Republic Bancorp, Inc. (NASDAQ:RBCAA) Position Raised by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its position in shares of Republic Bancorp, Inc. (NASDAQ:RBCAA) by 2.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 72,883 shares of the bank’s stock after acquiring an additional 1,932 shares during the period. Bank of New York Mellon Corp’s holdings in Republic Bancorp were worth $5,092,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Geode Capital Management LLC raised its stake in Republic Bancorp by 4.5% during the 3rd quarter. Geode Capital Management LLC now owns 219,628 shares of the bank’s stock valued at $14,345,000 after acquiring an additional 9,430 shares in the last quarter. State Street Corp raised its stake in shares of Republic Bancorp by 2.2% during the third quarter. State Street Corp now owns 210,298 shares of the bank’s stock valued at $13,816,000 after purchasing an additional 4,429 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Republic Bancorp by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 100,794 shares of the bank’s stock valued at $6,582,000 after purchasing an additional 2,098 shares in the last quarter. Empowered Funds LLC grew its position in Republic Bancorp by 5.0% in the 4th quarter. Empowered Funds LLC now owns 64,930 shares of the bank’s stock valued at $4,537,000 after buying an additional 3,105 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Republic Bancorp by 10.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,635 shares of the bank’s stock valued at $1,086,000 after buying an additional 1,515 shares in the last quarter. Institutional investors own 24.37% of the company’s stock.

Analyst Ratings Changes

Separately, Hovde Group dropped their price target on shares of Republic Bancorp from $72.00 to $70.00 and set a “market perform” rating on the stock in a research report on Monday, January 27th.

Republic Bancorp Stock Performance

RBCAA opened at $65.08 on Tuesday. The business has a 50 day moving average price of $66.51 and a two-hundred day moving average price of $68.49. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.12 and a quick ratio of 1.11. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 12.44 and a beta of 0.46. Republic Bancorp, Inc. has a 1-year low of $46.55 and a 1-year high of $80.68.

Republic Bancorp (NASDAQ:RBCAA) last posted its quarterly earnings data on Friday, January 24th. The bank reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.22). Republic Bancorp had a return on equity of 10.60% and a net margin of 20.05%.

Republic Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Friday, March 21st will be given a dividend of $0.451 per share. This is a positive change from Republic Bancorp’s previous quarterly dividend of $0.41. The ex-dividend date is Friday, March 21st. This represents a $1.80 annualized dividend and a dividend yield of 2.77%. Republic Bancorp’s dividend payout ratio (DPR) is 34.42%.

Insider Transactions at Republic Bancorp

In related news, Director David P. Feaster sold 1,406 shares of the stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $66.42, for a total value of $93,386.52. Following the completion of the transaction, the director now owns 4,303 shares in the company, valued at $285,805.26. This trade represents a 24.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP John T. Rippy sold 3,082 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $65.99, for a total transaction of $203,381.18. Following the sale, the executive vice president now directly owns 23,105 shares of the company’s stock, valued at $1,524,698.95. This represents a 11.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 55.50% of the company’s stock.

Republic Bancorp 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.