Republic Bancorp (NASDAQ:RBCAA) Sees Strong Trading Volume – Here’s Why

Shares of Republic Bancorp, Inc. (NASDAQ:RBCAA) saw an uptick in trading volume on Friday . 10,385 shares traded hands during mid-day trading, a decline of 41% from the previous session’s volume of 17,599 shares.The stock last traded at $69.31 and had previously closed at $70.42.

Wall Street Analysts Forecast Growth

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

Republic Bancorp Stock Up 1.2 %

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’s 50-day moving average price is $73.07 and its two-hundred day moving average price is $64.10. The stock has a market capitalization of $1.39 billion, a P/E ratio of 13.63 and a beta of 0.54.

Republic Bancorp (NASDAQ:RBCAA) last released its quarterly earnings data on Friday, October 18th. The bank reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.16. The company had revenue of $118.36 million for the quarter. Republic Bancorp had a return on equity of 10.79% and a net margin of 20.65%.

Republic Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Friday, December 20th will be given a dividend of $0.407 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $1.63 annualized dividend and a yield of 2.27%. Republic Bancorp’s payout ratio is presently 30.80%.

Institutional Trading of Republic Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of RBCAA. Innealta Capital LLC purchased a new stake in shares of Republic Bancorp in the second quarter worth $67,000. Acadian Asset Management LLC purchased a new position in Republic Bancorp in the second quarter worth about $87,000. Independence Bank of Kentucky lifted its stake in shares of Republic Bancorp by 4,133.3% in the second quarter. Independence Bank of Kentucky now owns 3,175 shares of the bank’s stock worth $170,000 after buying an additional 3,100 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Republic Bancorp during the third quarter valued at approximately $205,000. Finally, SeaCrest Wealth Management LLC bought a new stake in shares of Republic Bancorp during the third quarter valued at approximately $208,000. 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.