Republic Bancorp (NASDAQ:RBCAA) Price Target Raised to $78.00

Republic Bancorp (NASDAQ:RBCAA) had its target price hoisted by Hovde Group from $68.00 to $78.00 in a research report released on Friday morning, MarketBeat Ratings reports. They currently have an outperform rating on the bank’s stock.

Republic Bancorp Stock Up 2.0 %

RBCAA opened at $69.10 on Friday. The company has a market cap of $1.87 billion, a P/E ratio of 14.52 and a beta of 0.52. The business’s 50-day moving average price is $63.12 and its 200-day moving average price is $57.05. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.39. Republic Bancorp has a 12 month low of $42.51 and a 12 month high of $70.00.

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

Insider Activity

In related news, Director David P. Feaster sold 789 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $65.91, for a total value of $52,002.99. Following the completion of the transaction, the director now directly owns 5,487 shares in the company, valued at $361,648.17. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director David P. Feaster sold 789 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $65.91, for a total value of $52,002.99. Following the completion of the transaction, the director now directly owns 5,487 shares in the company, valued at $361,648.17. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Christy Ames sold 1,715 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $63.72, for a total transaction of $109,279.80. Following the completion of the transaction, the executive vice president now owns 4,240 shares of the company’s stock, valued at approximately $270,172.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,078 shares of company stock worth $1,170,715. Insiders own 55.50% of the company’s stock.

Institutional Investors Weigh In On Republic Bancorp

A number of large investors have recently added to or reduced their stakes in RBCAA. Innealta Capital LLC bought a new stake in shares of Republic Bancorp during the 2nd quarter valued at $67,000. Acadian Asset Management LLC bought a new stake in shares of Republic Bancorp during the 2nd quarter valued at $87,000. Independence Bank of Kentucky grew its position in shares of Republic Bancorp by 4,133.3% during 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 during the period. SG Americas Securities LLC bought a new stake in shares of Republic Bancorp during the 3rd quarter valued at $205,000. Finally, SeaCrest Wealth Management LLC bought a new stake in shares of Republic Bancorp during the 3rd quarter valued at $208,000. Institutional investors own 24.37% of the company’s stock.

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.