KLP Kapitalforvaltning AS Takes Position in Republic Bancorp, Inc. (NASDAQ:RBCAA)

KLP Kapitalforvaltning AS purchased a new position in Republic Bancorp, Inc. (NASDAQ:RBCAA) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 9,400 shares of the bank’s stock, valued at approximately $660,000.

Several other institutional investors and hedge funds also recently bought and sold shares of RBCAA. New York State Teachers Retirement System raised its stake in shares of Republic Bancorp by 659.0% in the fourth quarter. New York State Teachers Retirement System now owns 759 shares of the bank’s stock valued at $53,000 after acquiring an additional 659 shares during the period. Sei Investments Co. bought a new position in Republic Bancorp during the 4th quarter valued at about $208,000. The Manufacturers Life Insurance Company purchased a new stake in Republic Bancorp in the 3rd quarter worth about $224,000. Hohimer Wealth Management LLC bought a new stake in Republic Bancorp in the third quarter worth about $227,000. Finally, SG Americas Securities LLC boosted its position in shares of Republic Bancorp by 22.8% during the fourth quarter. SG Americas Securities LLC now owns 3,851 shares of the bank’s stock valued at $269,000 after buying an additional 714 shares during the period. 24.37% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director David P. Feaster sold 1,406 shares of the stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $66.42, for a total transaction of $93,386.52. Following the transaction, the director now directly owns 4,303 shares in the company, valued at approximately $285,805.26. This trade represents a 24.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John T. Rippy sold 3,082 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $65.99, for a total transaction of $203,381.18. Following the completion of the transaction, the executive vice president now directly owns 23,105 shares of the company’s stock, valued at $1,524,698.95. This trade represents a 11.77 % decrease in their position. The disclosure for this sale can be found here. 56.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

Republic Bancorp Stock Down 0.1 %

NASDAQ:RBCAA opened at $63.75 on Wednesday. The stock has a fifty day simple moving average of $65.99 and a 200-day simple moving average of $68.65. The company has a current ratio of 1.12, a quick ratio of 1.11 and a debt-to-equity ratio of 0.38. The company has a market cap of $1.24 billion, a price-to-earnings ratio of 12.19 and a beta of 0.46. Republic Bancorp, Inc. has a twelve month low of $46.81 and a twelve month high of $80.68.

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

Republic Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Friday, March 21st will be paid a $0.451 dividend. The ex-dividend date is Friday, March 21st. This represents a $1.80 annualized dividend and a yield of 2.83%. This is a boost from Republic Bancorp’s previous quarterly dividend of $0.41. Republic Bancorp’s dividend payout ratio is 34.42%.

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.