UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 6,063 Shares of Republic Bancorp, Inc. (NASDAQ:RBCAA)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in shares of Republic Bancorp, Inc. (NASDAQ:RBCAA) by 35.2% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 11,175 shares of the bank’s stock after selling 6,063 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Republic Bancorp were worth $730,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. The Manufacturers Life Insurance Company acquired a new stake in Republic Bancorp during the third quarter worth $224,000. Cerity Partners LLC lifted its holdings in shares of Republic Bancorp by 1.4% during the 3rd quarter. Cerity Partners LLC now owns 12,501 shares of the bank’s stock worth $816,000 after acquiring an additional 167 shares during the period. Meridian Wealth Management LLC acquired a new stake in shares of Republic Bancorp during the 3rd quarter valued at about $391,000. Charles Schwab Investment Management Inc. increased its stake in Republic Bancorp by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 100,794 shares of the bank’s stock valued at $6,582,000 after acquiring an additional 2,098 shares during the period. Finally, Empowered Funds LLC raised its position in Republic Bancorp by 2.0% in the third quarter. Empowered Funds LLC now owns 61,825 shares of the bank’s stock worth $4,037,000 after purchasing an additional 1,204 shares in the last quarter. Institutional investors own 24.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Hovde Group downgraded Republic Bancorp from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $78.00 to $80.00 in a report on Wednesday, November 13th.

Republic Bancorp Stock Performance

Republic Bancorp stock opened at $70.83 on Friday. The firm has a market capitalization of $1.38 billion, a P/E ratio of 13.47 and a beta of 0.54. The stock has a fifty day moving average price of $72.95 and a two-hundred day moving average price of $63.85. Republic Bancorp, Inc. has a 52-week low of $46.55 and a 52-week high of $80.68. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.12 and a quick ratio of 1.11.

Republic Bancorp (NASDAQ:RBCAA) last posted its earnings results on Friday, October 18th. The bank reported $1.37 earnings per share 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 business had revenue of $118.36 million for the quarter.

Republic Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Friday, December 20th will be issued a dividend of $0.407 per share. This represents a $1.63 annualized dividend and a dividend yield of 2.30%. The ex-dividend date is Friday, December 20th. Republic Bancorp’s payout ratio is 30.80%.

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.