Insider Selling: Republic Bancorp, Inc. (NASDAQ:RBCAA) EVP Sells 3,082 Shares of Stock

Republic Bancorp, Inc. (NASDAQ:RBCAA) EVP John T. Rippy sold 3,082 shares of Republic Bancorp stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $65.99, for a total transaction of $203,381.18. Following the transaction, the executive vice president now directly owns 23,105 shares in the company, valued at approximately $1,524,698.95. This represents a 11.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Republic Bancorp Stock Performance

Shares of NASDAQ:RBCAA traded down $0.02 during mid-day trading on Friday, reaching $65.45. The company had a trading volume of 30,372 shares, compared to its average volume of 23,578. 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 firm has a market cap of $1.27 billion, a price-to-earnings ratio of 12.51 and a beta of 0.56. The company’s 50-day moving average price is $71.39 and its 200-day moving average price is $67.37. Republic Bancorp, Inc. has a one year low of $46.55 and a one year high of $80.68.

Republic Bancorp (NASDAQ:RBCAA) last posted its quarterly earnings results on Friday, January 24th. The bank reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.22). Republic Bancorp had a return on equity of 10.60% and a net margin of 20.05%.

Republic Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Friday, March 21st will be issued a dividend of $0.451 per share. This is a boost from Republic Bancorp’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Friday, March 21st. This represents a $1.80 dividend on an annualized basis and a yield of 2.76%. Republic Bancorp’s payout ratio is presently 31.17%.

Institutional Investors Weigh In On Republic Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC raised its holdings in Republic Bancorp by 4.5% during the 3rd quarter. Geode Capital Management LLC now owns 219,628 shares of the bank’s stock valued at $14,345,000 after acquiring an additional 9,430 shares during the period. State Street Corp raised its holdings in Republic Bancorp by 2.2% during the 3rd quarter. State Street Corp now owns 210,298 shares of the bank’s stock valued at $13,816,000 after acquiring an additional 4,429 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Republic Bancorp by 2.1% during the 3rd 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. Empowered Funds LLC raised its holdings in Republic Bancorp by 5.0% during the 4th quarter. Empowered Funds LLC now owns 64,930 shares of the bank’s stock valued at $4,537,000 after acquiring an additional 3,105 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in Republic Bancorp by 5.5% during the 2nd quarter. Renaissance Technologies LLC now owns 40,200 shares of the bank’s stock valued at $2,155,000 after acquiring an additional 2,100 shares during the period. Institutional investors own 24.37% of the company’s stock.

Analysts Set New Price Targets

Separately, Hovde Group dropped their target price on shares of Republic Bancorp from $72.00 to $70.00 and set a “market perform” rating on the stock in a research report on Monday.

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.