JPMorgan Chase & Co. Buys 8,037 Shares of Republic Bancorp, Inc. $RBCAA

JPMorgan Chase & Co. boosted its stake in shares of Republic Bancorp, Inc. (NASDAQ:RBCAA) by 52.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,236 shares of the bank’s stock after buying an additional 8,037 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.12% of Republic Bancorp worth $1,679,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Quarry LP purchased a new position in shares of Republic Bancorp during the 3rd quarter valued at $27,000. State of Alaska Department of Revenue purchased a new position in shares of Republic Bancorp during the 3rd quarter valued at $50,000. Russell Investments Group Ltd. lifted its position in shares of Republic Bancorp by 2,561.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 825 shares of the bank’s stock valued at $60,000 after buying an additional 794 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Republic Bancorp during the 3rd quarter valued at $60,000. Finally, Quent Capital LLC purchased a new position in shares of Republic Bancorp during the 3rd quarter valued at $73,000. Institutional investors own 24.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Republic Bancorp in a research report on Thursday, January 22nd. Wall Street Zen cut Republic Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, March 14th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Republic Bancorp has a consensus rating of “Hold” and an average target price of $69.00.

Republic Bancorp Stock Up 0.0%

Shares of NASDAQ RBCAA opened at $71.96 on Wednesday. The business’s fifty day moving average price is $70.65 and its 200-day moving average price is $70.16. The stock has a market capitalization of $1.41 billion, a PE ratio of 10.71 and a beta of 0.55. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.08 and a quick ratio of 1.05. Republic Bancorp, Inc. has a one year low of $57.33 and a one year high of $78.25.

Republic Bancorp (NASDAQ:RBCAA) last issued its quarterly earnings data on Friday, January 30th. The bank reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.13). The company had revenue of $94.27 million for the quarter, compared to analysts’ expectations of $92.50 million. Republic Bancorp had a return on equity of 12.27% and a net margin of 25.19%.

Republic Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 17th. Investors of record on Friday, March 20th will be issued a dividend of $0.495 per share. This is a positive change from Republic Bancorp’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, March 20th. This represents a $1.98 dividend on an annualized basis and a yield of 2.8%. Republic Bancorp’s payout ratio is currently 29.46%.

About Republic Bancorp

Republic Bancorp, Inc is a bank holding company headquartered in Louisville, Kentucky, that operates through its principal subsidiary, Republic Bank & Trust Company. The company provides a full suite of commercial and retail banking services tailored to individuals, small businesses and middle‐market clients. Core offerings include deposit accounts, consumer and commercial lending, treasury and cash-management services, mortgage financing, SBA lending and wealth management solutions. Republic Bancorp also supports specialized financing needs through equipment leasing and small business advisory services.

Republic Bancorp’s branch network spans key markets in the U.S.