Republic Bancorp (NASDAQ:RBCAA) Sets New 52-Week High Following Analyst Upgrade

Shares of Republic Bancorp, Inc. (NASDAQ:RBCAA) hit a new 52-week high during trading on Friday after Hovde Group raised their price target on the stock from $68.00 to $78.00. Hovde Group currently has an outperform rating on the stock. Republic Bancorp traded as high as $69.59 and last traded at $69.00, with a volume of 4580 shares. The stock had previously closed at $67.75.

Insider Transactions at Republic Bancorp

In other Republic Bancorp news, EVP Pedro A. Bryant sold 2,500 shares of Republic Bancorp stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $65.61, for a total transaction of $164,025.00. Following the sale, the executive vice president now directly owns 1,425 shares of the company’s stock, valued at approximately $93,494.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Christy Ames sold 1,715 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $63.72, for a total value of $109,279.80. Following the sale, the executive vice president now owns 4,240 shares of the company’s stock, valued at approximately $270,172.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Pedro A. Bryant sold 2,500 shares of Republic Bancorp stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $65.61, for a total transaction of $164,025.00. Following the transaction, the executive vice president now directly owns 1,425 shares of the company’s stock, valued at $93,494.25. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 18,078 shares of company stock valued at $1,170,715. Company insiders own 55.50% of the company’s stock.

Institutional Trading of Republic Bancorp

Large investors have recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new stake in shares of Republic Bancorp during the second quarter worth $67,000. Acadian Asset Management LLC bought a new stake in Republic Bancorp during the 2nd quarter worth about $87,000. SG Americas Securities LLC acquired a new stake in Republic Bancorp in the 3rd quarter valued at about $205,000. Independence Bank of Kentucky increased its position in Republic Bancorp by 4,133.3% in the 2nd quarter. Independence Bank of Kentucky now owns 3,175 shares of the bank’s stock valued at $170,000 after acquiring an additional 3,100 shares in the last quarter. Finally, SeaCrest Wealth Management LLC bought a new position in shares of Republic Bancorp in the third quarter worth about $208,000. 24.37% of the stock is owned by institutional investors.

Republic Bancorp Price Performance

The company has a debt-to-equity ratio of 0.39, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market capitalization of $1.87 billion, a P/E ratio of 14.52 and a beta of 0.52. The company’s 50 day moving average price is $63.12 and its 200 day moving average price is $56.99.

Republic Bancorp (NASDAQ:RBCAA) last announced its quarterly earnings data on Friday, July 19th. The bank reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.03). The firm had revenue of $116.05 million during the quarter. Republic Bancorp had a net margin of 20.41% and a return on equity of 10.50%.

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.