Wall Street Zen Downgrades Republic Bancorp (NASDAQ:RBCAA) to Sell
by Mitch Edgeman · The Markets DailyRepublic Bancorp (NASDAQ:RBCAA – Get Free Report) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.
Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Republic Bancorp in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $69.00.
Get Our Latest Research Report on RBCAA
Republic Bancorp Stock Down 0.4%
RBCAA stock opened at $68.52 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.08 and a quick ratio of 1.05. The stock has a market capitalization of $1.34 billion, a P/E ratio of 10.20 and a beta of 0.59. Republic Bancorp has a fifty-two week low of $56.79 and a fifty-two week high of $78.25. The business has a 50-day moving average of $71.09 and a 200-day moving average of $70.95.
Republic Bancorp (NASDAQ:RBCAA – Get Free Report) last announced its earnings results 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 firm had revenue of $94.27 million during the quarter, compared to analyst estimates of $92.50 million. Republic Bancorp had a net margin of 25.19% and a return on equity of 12.27%.
Hedge Funds Weigh In On Republic Bancorp
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RBCAA. PNC Financial Services Group Inc. raised its position in shares of Republic Bancorp by 7,500.0% in the third quarter. PNC Financial Services Group Inc. now owns 15,200 shares of the bank’s stock valued at $1,098,000 after purchasing an additional 15,000 shares during the period. American Century Companies Inc. lifted its stake in shares of Republic Bancorp by 13.8% during the 2nd quarter. American Century Companies Inc. now owns 238,979 shares of the bank’s stock worth $17,472,000 after buying an additional 28,976 shares during the last quarter. Inspire Advisors LLC boosted its holdings in shares of Republic Bancorp by 12.6% during the 2nd quarter. Inspire Advisors LLC now owns 44,225 shares of the bank’s stock worth $3,233,000 after buying an additional 4,947 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Republic Bancorp by 9.0% during the 2nd quarter. Geode Capital Management LLC now owns 234,101 shares of the bank’s stock worth $17,118,000 after buying an additional 19,271 shares during the period. Finally, Empowered Funds LLC boosted its holdings in shares of Republic Bancorp by 2.0% during the 2nd quarter. Empowered Funds LLC now owns 63,513 shares of the bank’s stock worth $4,643,000 after buying an additional 1,219 shares during the period. 24.37% of the stock is owned by institutional investors.
Republic Bancorp Company Profile
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.