The Manufacturers Life Insurance Company Purchases New Shares in Republic Bancorp, Inc. (NASDAQ:RBCAA)

The Manufacturers Life Insurance Company purchased a new position in shares of Republic Bancorp, Inc. (NASDAQ:RBCAA) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,435 shares of the bank’s stock, valued at approximately $224,000.

A number of other institutional investors have also recently added to or reduced their stakes in RBCAA. Inspire Advisors LLC acquired a new position in shares of Republic Bancorp in the 2nd quarter valued at about $1,546,000. American Century Companies Inc. grew its position in shares of Republic Bancorp by 17.0% during the second quarter. American Century Companies Inc. now owns 146,090 shares of the bank’s stock worth $7,832,000 after acquiring an additional 21,261 shares during the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of Republic Bancorp by 113.9% in the 2nd quarter. Los Angeles Capital Management LLC now owns 21,205 shares of the bank’s stock worth $1,137,000 after acquiring an additional 11,290 shares during the period. Dimensional Fund Advisors LP lifted its position in Republic Bancorp by 0.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 952,102 shares of the bank’s stock valued at $51,040,000 after purchasing an additional 8,382 shares during the last quarter. Finally, Meridian Wealth Management LLC acquired a new position in Republic Bancorp during the 3rd quarter valued at about $391,000. Institutional investors and hedge funds own 24.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Hovde Group cut Republic Bancorp from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $78.00 to $80.00 in a research note on Wednesday, November 13th.

Republic Bancorp Stock Down 0.2 %

RBCAA opened at $76.69 on Tuesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.11 and a current ratio of 1.12. The company has a market capitalization of $1.49 billion, a PE ratio of 14.58 and a beta of 0.54. The stock’s fifty day moving average is $72.40 and its 200-day moving average is $63.59. Republic Bancorp, Inc. has a one year low of $46.55 and a one year high of $80.68.

Republic Bancorp (NASDAQ:RBCAA) last posted its quarterly earnings results on Friday, October 18th. The bank reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.16. Republic Bancorp had a net margin of 20.65% and a return on equity of 10.79%. The firm had revenue of $118.36 million for the quarter.

Republic Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Friday, December 20th will be paid a $0.407 dividend. This represents a $1.63 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend is Friday, December 20th. Republic Bancorp’s dividend payout ratio is 30.99%.

About Republic Bancorp

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.