Insider Selling: Republic Bancorp (NASDAQ:RBCAA) EVP Sells 3,000 Shares of Stock

by · The Markets Daily

Republic Bancorp, Inc. (NASDAQ:RBCAAGet Free Report) EVP Anthony Powell sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $83.54, for a total value of $250,620.00. Following the completion of the sale, the executive vice president owned 24,691 shares in the company, valued at $2,062,686.14. The trade was a 10.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Republic Bancorp Trading Up 1.1%

RBCAA stock traded up $0.96 during trading on Friday, hitting $87.84. The company had a trading volume of 45,245 shares, compared to its average volume of 64,363. 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 cap of $1.72 billion, a PE ratio of 13.55 and a beta of 0.58. The business has a 50-day moving average of $77.27 and a 200-day moving average of $72.97. Republic Bancorp, Inc. has a one year low of $63.97 and a one year high of $88.78.

Republic Bancorp (NASDAQ:RBCAAGet Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.63. The business had revenue of $114.57 million for the quarter, compared to analysts’ expectations of $96.60 million. Republic Bancorp had a net margin of 25.22% and a return on equity of 11.32%.

Republic Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Thursday, June 18th will be issued a $0.495 dividend. This represents a $1.98 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Thursday, June 18th. Republic Bancorp’s dividend payout ratio (DPR) is currently 30.56%.

Institutional Investors Weigh In On Republic Bancorp

A number of hedge funds have recently made changes to their positions in RBCAA. Dimensional Fund Advisors LP raised its holdings in shares of Republic Bancorp by 0.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 928,367 shares of the bank’s stock worth $65,496,000 after purchasing an additional 5,656 shares during the period. American Century Companies Inc. raised its holdings in Republic Bancorp by 11.0% during the 3rd quarter. American Century Companies Inc. now owns 265,298 shares of the bank’s stock valued at $19,168,000 after acquiring an additional 26,319 shares during the period. State Street Corp raised its holdings in Republic Bancorp by 1.0% during the 4th quarter. State Street Corp now owns 218,872 shares of the bank’s stock valued at $15,195,000 after acquiring an additional 2,208 shares during the period. Bridgeway Capital Management LLC raised its holdings in Republic Bancorp by 5.3% during the 4th quarter. Bridgeway Capital Management LLC now owns 123,097 shares of the bank’s stock valued at $8,492,000 after acquiring an additional 6,189 shares during the period. Finally, Empowered Funds LLC raised its holdings in Republic Bancorp by 6.1% during the 1st quarter. Empowered Funds LLC now owns 78,246 shares of the bank’s stock valued at $5,520,000 after acquiring an additional 4,511 shares during the period. 24.37% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on RBCAA shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Republic Bancorp in a research report on Tuesday. Wall Street Zen upgraded Republic Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Republic Bancorp has an average rating of “Moderate Buy”.

View Our Latest Stock Analysis on RBCAA

About Republic Bancorp

(Get Free Report)

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.

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