Republic Bancorp (NASDAQ:RBCAA) Sets New 12-Month High – Time to Buy?

Republic Bancorp, Inc. (NASDAQ:RBCAA) reached a new 52-week high during trading on Monday . The stock traded as high as $80.17 and last traded at $80.17, with a volume of 2608 shares traded. The stock had previously closed at $77.62.

Wall Street Analysts Forecast Growth

Separately, Hovde Group cut 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 research report on Wednesday, November 13th.

Republic Bancorp Trading Up 0.4 %

The stock has a market capitalization of $1.50 billion, a PE ratio of 14.71 and a beta of 0.51. The stock’s 50 day moving average price is $69.22 and its 200-day moving average price is $61.38. The company has a quick ratio of 1.11, a current ratio of 1.12 and a debt-to-equity ratio of 0.38.

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

Republic Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Friday, December 20th will be paid a dividend of $0.407 per share. This represents a $1.63 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend is Friday, December 20th. Republic Bancorp’s dividend payout ratio (DPR) is presently 30.99%.

Insider Buying and Selling

In other news, EVP Christy Ames sold 1,715 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was 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 $270,172.80. This trade represents a 28.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 56.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Republic Bancorp

A number of hedge funds have recently made changes to their positions in the company. Innealta Capital LLC bought a new stake in Republic Bancorp in the second quarter worth $67,000. Acadian Asset Management LLC purchased a new stake in shares of Republic Bancorp during the 2nd quarter valued at about $87,000. Independence Bank of Kentucky lifted its holdings in shares of Republic Bancorp by 4,133.3% in the 2nd quarter. Independence Bank of Kentucky now owns 3,175 shares of the bank’s stock valued at $170,000 after acquiring an additional 3,100 shares during the last quarter. SG Americas Securities LLC purchased a new position in Republic Bancorp in the third quarter worth about $205,000. Finally, SeaCrest Wealth Management LLC bought a new stake in Republic Bancorp during the third quarter worth approximately $208,000. 24.37% of the stock is currently owned by hedge funds and other institutional investors.

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.