Republic Bancorp (NASDAQ:RBCAA) Price Target Raised to $78.00

Republic Bancorp (NASDAQ:RBCAA) had its price target raised by Hovde Group from $68.00 to $78.00 in a research note issued to investors on Friday, MarketBeat Ratings reports. The brokerage currently has an outperform rating on the bank’s stock.

Republic Bancorp Trading Up 2.0 %

Shares of Republic Bancorp stock opened at $69.10 on Friday. The company has a market capitalization of $1.87 billion, a P/E ratio of 14.52 and a beta of 0.52. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.09 and a current ratio of 1.09. The company has a fifty day moving average of $63.12 and a 200 day moving average of $57.05. Republic Bancorp has a fifty-two week low of $42.51 and a fifty-two week high of $70.00.

Republic Bancorp (NASDAQ:RBCAA) last announced its quarterly earnings results on Friday, July 19th. The bank reported $1.30 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.03). The company had revenue of $116.05 million during the quarter. Republic Bancorp had a return on equity of 10.50% and a net margin of 20.41%.

Insiders Place Their Bets

In other Republic Bancorp news, EVP Christy Ames sold 1,715 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $63.72, for a total value of $109,279.80. Following the sale, the executive vice president now owns 4,240 shares in the company, valued at $270,172.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Juan Montano sold 2,750 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $63.37, for a total transaction of $174,267.50. Following the sale, the executive vice president now directly owns 8,558 shares in the company, valued at approximately $542,320.46. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christy Ames sold 1,715 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $63.72, for a total transaction of $109,279.80. Following the sale, the executive vice president now owns 4,240 shares in the company, valued at $270,172.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,078 shares of company stock worth $1,170,715 in the last 90 days. 55.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Republic Bancorp

Several hedge funds have recently made changes to their positions in RBCAA. Inspire Investing LLC grew its holdings in Republic Bancorp by 3.6% during the 1st quarter. Inspire Investing LLC now owns 7,076 shares of the bank’s stock valued at $361,000 after purchasing an additional 245 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Republic Bancorp by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 7,405 shares of the bank’s stock valued at $378,000 after purchasing an additional 624 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Republic Bancorp by 1.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 76,927 shares of the bank’s stock valued at $4,124,000 after purchasing an additional 1,226 shares during the last quarter. Innealta Capital LLC bought a new position in Republic Bancorp during the 2nd quarter valued at about $67,000. Finally, Acadian Asset Management LLC bought a new position in Republic Bancorp during the 2nd quarter valued at about $87,000. 24.37% of the stock is currently owned by hedge funds and other institutional investors.

Republic Bancorp Company Profile

Republic Bancorp, Inc operates as a bank holding company for Republic Bank & Trust Company that provides various banking products and services in the United States. It operates in six segments: Traditional Banking, Warehouse, Mortgage Banking, Tax Refund Solutions, Republic Payment Solutions, and Republic Credit Solutions.