Republic Bancorp (NASDAQ:RBCAA) Sees Unusually-High Trading Volume – Still a Buy?

Republic Bancorp, Inc. (NASDAQ:RBCAA) shares saw an uptick in trading volume on Wednesday . 19,065 shares traded hands during trading, a decline of 19% from the previous session’s volume of 23,431 shares.The stock last traded at $67.05 and had previously closed at $66.79.

Wall Street Analysts Forecast Growth

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.

Republic Bancorp Trading Down 0.3 %

The business has a 50-day simple moving average of $68.82 and a two-hundred day simple moving average of $67.68. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of 12.85 and a beta of 0.54. 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 posted its earnings results on Friday, January 24th. The bank reported $0.98 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.22). Republic Bancorp had a net margin of 20.05% and a return on equity of 10.60%.

Republic Bancorp Increases Dividend

The company 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 $0.451 dividend. This is an increase from Republic Bancorp’s previous quarterly dividend of $0.41. The ex-dividend date is Friday, March 21st. This represents a $1.80 annualized dividend and a dividend yield of 2.68%. Republic Bancorp’s dividend payout ratio is presently 31.17%.

Insider Activity at Republic Bancorp

In related news, Director David P. Feaster sold 1,406 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $66.42, for a total value of $93,386.52. Following the completion of the sale, the director now directly owns 4,303 shares in the company, valued at approximately $285,805.26. The trade was a 24.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Heather V. Howell sold 1,496 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $75.63, for a total value of $113,142.48. Following the completion of the sale, the director now owns 7,491 shares of the company’s stock, valued at approximately $566,544.33. This trade represents a 16.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,984 shares of company stock worth $409,910. Company insiders own 56.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. New York State Teachers Retirement System raised its position 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 worth $53,000 after purchasing an additional 659 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in Republic Bancorp during the 4th quarter worth $70,000. Tower Research Capital LLC TRC raised its position in Republic Bancorp by 206.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,101 shares of the bank’s stock worth $77,000 after purchasing an additional 742 shares during the last quarter. Sei Investments Co. bought a new position in Republic Bancorp during the 4th quarter worth $208,000. Finally, SG Americas Securities LLC bought a new position in shares of Republic Bancorp in the 3rd quarter worth about $205,000. 24.37% of the stock is currently owned by institutional investors and hedge funds.

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.