Republic Bancorp (NASDAQ:RBCAA) Hits New 12-Month High Following Earnings Beat

Republic Bancorp, Inc. (NASDAQ:RBCAA)’s share price reached a new 52-week high during trading on Friday after the company announced better than expected quarterly earnings. The company traded as high as $93.88 and last traded at $93.87, with a volume of 33431 shares traded. The stock had previously closed at $90.76.

The bank reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.13. The business had revenue of $101.27 million for the quarter, compared to the consensus estimate of $97.60 million. Republic Bancorp had a return on equity of 11.32% and a net margin of 25.22%.

Republic Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, September 18th will be given a dividend of $0.495 per share. This represents a $1.98 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, September 18th. Republic Bancorp’s dividend payout ratio is presently 30.56%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on RBCAA shares. Wall Street Zen raised shares of Republic Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Zacks Research upgraded shares of Republic Bancorp to a “hold” rating in a report on Monday, July 13th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Republic Bancorp in a research report on Tuesday, June 9th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

Insider Buying and Selling at Republic Bancorp

In related news, EVP Anthony T. Powell sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $83.54, for a total transaction of $250,620.00. Following the transaction, the executive vice president directly owned 24,691 shares of the company’s stock, valued at $2,062,686.14. This trade represents a 10.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Christy Ames sold 340 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $87.90, for a total value of $29,886.00. Following the completion of the transaction, the executive vice president owned 6,145 shares in the company, valued at $540,145.50. The trade was a 5.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 55.90% of the company’s stock.

Institutional Investors Weigh In On Republic Bancorp

Large investors have recently made changes to their positions in the business. First Trust Advisors LP raised its stake in shares of Republic Bancorp by 651.0% during the 2nd quarter. First Trust Advisors LP now owns 78,077 shares of the bank’s stock worth $5,708,000 after purchasing an additional 67,681 shares during the period. Millennium Management LLC increased its holdings in Republic Bancorp by 172.3% during the third quarter. Millennium Management LLC now owns 63,702 shares of the bank’s stock worth $4,602,000 after buying an additional 40,308 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in Republic Bancorp in the third quarter worth about $1,600,000. Goldman Sachs Group Inc. boosted its stake in Republic Bancorp by 41.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 60,225 shares of the bank’s stock valued at $4,155,000 after acquiring an additional 17,709 shares during the last quarter. Finally, Lazard Asset Management LLC grew its position in shares of Republic Bancorp by 3,384.5% during the 2nd quarter. Lazard Asset Management LLC now owns 18,154 shares of the bank’s stock valued at $1,327,000 after acquiring an additional 17,633 shares during the period. 24.37% of the stock is owned by hedge funds and other institutional investors.

Republic Bancorp Stock Up 3.2%

The stock’s 50-day moving average price is $86.20 and its two-hundred day moving average price is $76.96. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $1.84 billion, a P/E ratio of 14.45 and a beta of 0.56.

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.