Republic Bancorp (NASDAQ:RBCAA) Rating Lowered to Market Perform at Hovde Group

Hovde Group lowered shares of Republic Bancorp (NASDAQ:RBCAA) from an outperform rating to a market perform rating in a research report report published on Wednesday morning, MarketBeat reports. The firm currently has $80.00 price objective on the bank’s stock, up from their previous price objective of $78.00.

Republic Bancorp Trading Down 0.6 %

Shares of Republic Bancorp stock opened at $76.21 on Wednesday. The company has a fifty day simple moving average of $67.23 and a 200-day simple moving average of $60.02. Republic Bancorp has a 12-month low of $46.55 and a 12-month high of $79.75. 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 stock has a market cap of $1.48 billion, a price-to-earnings ratio of 14.49 and a beta of 0.51.

Republic Bancorp (NASDAQ:RBCAA) last released its quarterly earnings results on Friday, October 18th. The bank reported $1.37 EPS for the quarter, beating 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 during the quarter.

Insider Activity at Republic Bancorp

In other Republic Bancorp news, EVP Christy Ames sold 1,715 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $63.72, for a total transaction of $109,279.80. Following the completion of the transaction, the executive vice president now owns 4,240 shares in the company, valued at approximately $270,172.80. This represents a 28.80 % 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 Juan Montano sold 2,750 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $63.37, for a total transaction of $174,267.50. Following the transaction, the executive vice president now owns 8,558 shares of the company’s stock, valued at approximately $542,320.46. The trade was a 24.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,715 shares of company stock worth $299,172 in the last 90 days. 55.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Republic Bancorp

Large investors have recently bought and sold shares of the company. Inspire Advisors LLC acquired a new position in shares of Republic Bancorp during the 2nd quarter worth $1,546,000. State Board of Administration of Florida Retirement System grew its stake in shares of Republic Bancorp by 26.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 13,172 shares of the bank’s stock worth $672,000 after purchasing an additional 2,742 shares during the period. Vanguard Group Inc. grew its stake in shares of Republic Bancorp by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 500,726 shares of the bank’s stock worth $25,537,000 after purchasing an additional 2,043 shares during the period. Los Angeles Capital Management LLC grew its stake in shares of Republic Bancorp by 50.1% during the 3rd quarter. Los Angeles Capital Management LLC now owns 31,822 shares of the bank’s stock worth $2,078,000 after purchasing an additional 10,617 shares during the period. Finally, American Century Companies Inc. grew its stake in shares of Republic Bancorp by 17.0% during the 2nd quarter. American Century Companies Inc. now owns 146,090 shares of the bank’s stock worth $7,832,000 after purchasing an additional 21,261 shares during the period. Hedge funds and other institutional investors own 24.37% of the company’s stock.

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.