Republic Bancorp (NASDAQ:RBCAA) Trading 2% Higher – Time to Buy?

Republic Bancorp, Inc. (NASDAQ:RBCAA) shares shot up 2% on Friday . The stock traded as high as $73.39 and last traded at $73.39. 1,789 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 17,638 shares. The stock had previously closed at $71.93.

Analyst Upgrades and Downgrades

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

Republic Bancorp Price Performance

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 company has a market capitalization of $1.34 billion, a price-to-earnings ratio of 13.15 and a beta of 0.54. The company has a 50 day moving average price of $73.48 and a 200 day moving average price of $64.58.

Republic Bancorp (NASDAQ:RBCAA) last announced its quarterly earnings data on Friday, October 18th. The bank reported $1.37 EPS for the quarter, topping analysts’ consensus estimates 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 10.79% and a net margin of 20.65%.

Republic Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Friday, December 20th will be issued a dividend of $0.407 per share. This represents a $1.63 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date is Friday, December 20th. Republic Bancorp’s dividend payout ratio is presently 30.80%.

Hedge Funds Weigh In On Republic Bancorp

Several institutional investors have recently modified their holdings of RBCAA. Cerity Partners LLC lifted its holdings in shares of Republic Bancorp by 1.4% during the 3rd quarter. Cerity Partners LLC now owns 12,501 shares of the bank’s stock valued at $816,000 after purchasing an additional 167 shares in the last quarter. Empowered Funds LLC raised its holdings in Republic Bancorp by 2.0% during the 3rd quarter. Empowered Funds LLC now owns 61,825 shares of the bank’s stock worth $4,037,000 after buying an additional 1,204 shares during the period. Bank of New York Mellon Corp lifted its stake in Republic Bancorp by 1.6% in the second 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. Innealta Capital LLC acquired a new position in shares of Republic Bancorp in the second quarter valued at approximately $67,000. Finally, JPMorgan Chase & Co. increased its position in shares of Republic Bancorp by 10.0% during the third quarter. JPMorgan Chase & Co. now owns 16,635 shares of the bank’s stock worth $1,086,000 after acquiring an additional 1,515 shares in the last quarter. 24.37% of the stock is currently owned by institutional investors and hedge funds.

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.