Republic Bancorp, Inc. (NASDAQ:RBCAA) Holdings Reduced by Martingale Asset Management L P

Martingale Asset Management L P lessened its holdings in shares of Republic Bancorp, Inc. (NASDAQ:RBCAA) by 1.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,473 shares of the bank’s stock after selling 200 shares during the period. Martingale Asset Management L P owned 0.06% of Republic Bancorp worth $871,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in RBCAA. New York State Teachers Retirement System increased its stake in Republic Bancorp by 659.0% during the 4th quarter. New York State Teachers Retirement System now owns 759 shares of the bank’s stock valued at $53,000 after buying an additional 659 shares during the period. Sei Investments Co. acquired a new position in shares of Republic Bancorp during the fourth quarter valued at approximately $208,000. The Manufacturers Life Insurance Company acquired a new position in shares of Republic Bancorp during the third quarter valued at approximately $224,000. SG Americas Securities LLC raised its holdings in Republic Bancorp by 22.8% during the fourth quarter. SG Americas Securities LLC now owns 3,851 shares of the bank’s stock worth $269,000 after purchasing an additional 714 shares in the last quarter. Finally, Baron Silver Stevens Financial Advisors LLC acquired a new stake in Republic Bancorp in the fourth quarter worth approximately $280,000. 24.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Hovde Group lowered their price target on Republic Bancorp from $72.00 to $70.00 and set a “market perform” rating on the stock in a research report on Monday, January 27th.

Insider Activity

In other news, EVP John T. Rippy sold 3,082 shares of Republic Bancorp stock in a transaction 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 owns 23,105 shares in the company, valued at approximately $1,524,698.95. The trade was a 11.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David P. Feaster sold 1,406 shares of the company’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $66.42, for a total value of $93,386.52. Following the transaction, the director now directly owns 4,303 shares in the company, valued at $285,805.26. The trade was a 24.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 56.40% of the stock is currently owned by company insiders.

Republic Bancorp Stock Performance

NASDAQ:RBCAA opened at $60.66 on Friday. The company has a 50-day moving average of $64.98 and a 200-day moving average of $68.33. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 11.60 and a beta of 0.46. The company has a current ratio of 1.12, a quick ratio of 1.11 and a debt-to-equity ratio of 0.38. Republic Bancorp, Inc. has a twelve month low of $46.83 and a twelve month high of $80.68.

Republic Bancorp (NASDAQ:RBCAA) last posted its quarterly earnings results on Friday, January 24th. The bank reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Friday, March 21st will be given a dividend of $0.451 per share. The ex-dividend date is Friday, March 21st. This is a positive change from Republic Bancorp’s previous quarterly dividend of $0.41. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.97%. Republic Bancorp’s payout ratio is 34.42%.

Republic Bancorp 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.