Republic Bancorp (NASDAQ:RBCAA) Sets New 1-Year High – Here’s What Happened

Republic Bancorp, Inc. (NASDAQ:RBCAA) reached a new 52-week high on Wednesday . The stock traded as high as $76.29 and last traded at $75.23, with a volume of 4306 shares changing hands. The stock had previously closed at $68.12.

Wall Street Analysts Forecast Growth

Separately, Hovde Group increased their price target on shares of Republic Bancorp from $68.00 to $78.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th.

Republic Bancorp Price Performance

The company’s 50-day simple moving average is $65.04 and its 200 day simple moving average is $58.67. The company has a market cap of $1.51 billion, a PE ratio of 14.30 and a beta of 0.51. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.09 and a current ratio of 1.09.

Republic Bancorp (NASDAQ:RBCAA) last released its earnings results on Friday, October 18th. The bank reported $1.37 EPS for the quarter, topping the consensus estimate of $1.21 by $0.16. The firm had revenue of $118.36 million during the quarter. Republic Bancorp had a return on equity of 10.92% and a net margin of 20.65%.

Insider Transactions at Republic Bancorp

In related news, EVP Christy Ames sold 1,715 shares of Republic Bancorp stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $63.72, for a total value 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Republic Bancorp news, EVP Christy Ames sold 1,715 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $63.72, for a total value of $109,279.80. Following the sale, the executive vice president now directly owns 4,240 shares in the company, valued at $270,172.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Juan Montano sold 2,750 shares of Republic Bancorp stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $63.37, for a total value of $174,267.50. Following the sale, the executive vice president now directly owns 8,558 shares of the company’s stock, valued at $542,320.46. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,715 shares of company stock valued at $299,172. 56.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Republic Bancorp

Hedge funds have recently added to or reduced their stakes in the stock. Empowered Funds LLC increased its position in shares of Republic Bancorp by 2.0% during 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. Los Angeles Capital Management LLC grew its stake in 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 buying an additional 10,617 shares during the last quarter. SeaCrest Wealth Management LLC acquired a new position in Republic Bancorp during the third quarter worth approximately $208,000. Creative Planning purchased a new stake in Republic Bancorp in the third quarter valued at approximately $261,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Republic Bancorp in the third quarter valued at approximately $205,000. 24.37% of the stock is currently owned by hedge funds and other institutional investors.

About Republic Bancorp

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.