Advisory Services Network LLC Trims Stock Holdings in Republic Bancorp, Inc. (NASDAQ:RBCAA)

Advisory Services Network LLC cut its holdings in shares of Republic Bancorp, Inc. (NASDAQ:RBCAA) by 24.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,816 shares of the bank’s stock after selling 2,497 shares during the quarter. Advisory Services Network LLC’s holdings in Republic Bancorp were worth $546,000 at the end of the most recent quarter.

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

Insider Activity

In related 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 completion of the sale, the executive vice president now directly owns 23,105 shares of the company’s stock, valued at $1,524,698.95. The trade was a 11.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David P. Feaster sold 1,406 shares of the stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $66.42, for a total value of $93,386.52. Following the completion of 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 position. The disclosure for this sale can be found here. 56.40% of the stock is owned by insiders.

Republic Bancorp Trading Up 4.0 %

NASDAQ:RBCAA opened at $62.97 on Wednesday. The stock’s 50-day moving average is $64.76 and its two-hundred day moving average is $68.29. Republic Bancorp, Inc. has a fifty-two week low of $46.83 and a fifty-two week high of $80.68. The stock has a market cap of $1.23 billion, a PE ratio of 12.04 and a beta of 0.46. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.12 and a quick ratio of 1.11.

Republic Bancorp (NASDAQ:RBCAA) last announced its quarterly earnings results on Friday, January 24th. The bank reported $0.98 earnings per share 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 business also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Friday, March 21st will be given a dividend of $0.451 per share. This is an increase 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 annualized dividend and a yield of 2.86%. Republic Bancorp’s dividend payout ratio is 34.42%.

Analyst Ratings Changes

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

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.