Republic Bancorp, Inc. (NASDAQ:RBCAA) Sees Large Increase in Short Interest

Republic Bancorp, Inc. (NASDAQ:RBCAA) was the target of a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 48,800 shares, an increase of 23.2% from the August 15th total of 39,600 shares. Currently, 0.6% of the shares of the stock are sold short. Based on an average trading volume of 17,400 shares, the days-to-cover ratio is currently 2.8 days.

Republic Bancorp Trading Up 1.0 %

Republic Bancorp stock traded up $0.62 during trading hours on Monday, reaching $65.30. The stock had a trading volume of 24,153 shares, compared to its average volume of 17,309. Republic Bancorp has a 52 week low of $42.42 and a 52 week high of $69.00. The stock has a market cap of $1.27 billion, a PE ratio of 13.71 and a beta of 0.52. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.09 and a quick ratio of 1.09. The company has a fifty day simple moving average of $61.08 and a 200-day simple moving average of $54.31.

Republic Bancorp (NASDAQ:RBCAA) last released its quarterly earnings results on Friday, July 19th. The bank reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.03). Republic Bancorp had a net margin of 20.41% and a return on equity of 10.50%. The company had revenue of $116.05 million during the quarter.

Republic Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Friday, September 20th will be paid a $0.407 dividend. This represents a $1.63 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend is Friday, September 20th. Republic Bancorp’s payout ratio is presently 34.24%.

Insider Activity at Republic Bancorp

In related news, Director David P. Feaster sold 789 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $65.91, for a total value of $52,002.99. Following the completion of the sale, the director now owns 5,487 shares in the company, valued at approximately $361,648.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Pedro A. Bryant sold 2,500 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $65.61, for a total value of $164,025.00. Following the completion of the sale, the executive vice president now owns 1,425 shares of the company’s stock, valued at approximately $93,494.25. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director David P. Feaster sold 789 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $65.91, for a total value of $52,002.99. Following the sale, the director now owns 5,487 shares of the company’s stock, valued at $361,648.17. The disclosure for this sale can be found here. Insiders have sold a total of 18,078 shares of company stock valued at $1,170,715 over the last 90 days. 55.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Republic Bancorp

Several hedge funds have recently made changes to their positions in the company. Inspire Investing LLC grew its holdings in Republic Bancorp by 3.6% in the first quarter. Inspire Investing LLC now owns 7,076 shares of the bank’s stock worth $361,000 after purchasing an additional 245 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Republic Bancorp by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 7,405 shares of the bank’s stock worth $378,000 after buying an additional 624 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Republic Bancorp by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 97,399 shares of the bank’s stock worth $5,373,000 after buying an additional 704 shares during the last quarter. Bank of New York Mellon Corp increased its position in Republic Bancorp by 1.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 76,927 shares of the bank’s stock valued at $4,124,000 after buying an additional 1,226 shares in the last quarter. Finally, Innealta Capital LLC purchased a new position in Republic Bancorp during the second quarter valued at $67,000. 24.37% of the stock is currently owned by 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.