Republic Bancorp (NASDAQ:RBCAA) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

by · The Markets Daily

Shares of Republic Bancorp, Inc. (NASDAQ:RBCAAGet Free Report) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $71.93 and traded as high as $82.37. Republic Bancorp shares last traded at $82.36, with a volume of 97,727 shares traded.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Republic Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Republic Bancorp currently has an average rating of “Moderate Buy”.

Get Our Latest Report on RBCAA

Republic Bancorp Stock Down 1.7%

The firm has a market capitalization of $1.59 billion, a PE ratio of 12.49 and a beta of 0.58. The firm’s 50 day moving average price is $75.33 and its two-hundred day moving average price is $72.14. The company has a quick ratio of 1.05, a current ratio of 1.06 and a debt-to-equity ratio of 0.32.

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

Republic Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Thursday, June 18th will be paid a $0.495 dividend. The ex-dividend date is Thursday, June 18th. This represents a $1.98 annualized dividend and a dividend yield of 2.4%. Republic Bancorp’s dividend payout ratio is 30.56%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Quarry LP bought a new position in Republic Bancorp during the 3rd quarter valued at $27,000. Russell Investments Group Ltd. boosted its stake in 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 acquiring an additional 794 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in Republic Bancorp during the 3rd quarter valued at $60,000. Raymond James Financial Inc. bought a new position in Republic Bancorp during the 2nd quarter valued at $121,000. Finally, CANADA LIFE ASSURANCE Co boosted its stake in Republic Bancorp by 541.2% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,757 shares of the bank’s stock valued at $121,000 after acquiring an additional 1,483 shares during the last quarter. 24.37% of the stock is currently owned by hedge funds and other institutional investors.

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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