Zacks Investment Research downgraded shares of Republic Bancorp Inc. (NASDAQ:RBCAA) from a strong-buy rating to a hold rating in a research report report published on Tuesday morning.
According to Zacks, “Republic Bancorp, Inc. is a financial holding company. “
Republic Bancorp (NASDAQ:RBCAA) opened at 29.96 on Tuesday. The company has a market cap of $625.03 million, a price-to-earnings ratio of 16.05 and a beta of 0.72. Republic Bancorp has a 12 month low of $23.00 and a 12 month high of $33.26. The stock has a 50 day moving average price of $31.14 and a 200 day moving average price of $28.75.
Republic Bancorp (NASDAQ:RBCAA) last issued its earnings results on Friday, July 22nd. The company reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.04. Republic Bancorp had a return on equity of 6.70% and a net margin of 18.78%. Analysts anticipate that Republic Bancorp will post $2.04 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 21st. Investors of record on Friday, September 16th will be given a $0.209 dividend. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $0.84 annualized dividend and a yield of 2.79%. Republic Bancorp’s dividend payout ratio is currently 44.68%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RBCAA. KBC Group NV raised its position in shares of Republic Bancorp by 225.7% in the second quarter. KBC Group NV now owns 3,671 shares of the company’s stock valued at $101,000 after buying an additional 2,544 shares during the period. Panagora Asset Management Inc. raised its position in shares of Republic Bancorp by 80.6% in the second quarter. Panagora Asset Management Inc. now owns 4,345 shares of the company’s stock valued at $120,000 after buying an additional 1,939 shares during the period. Huntington Asset Advisors Inc. acquired a new position in shares of Republic Bancorp during the first quarter valued at about $161,000. BlackRock Inc. raised its position in shares of Republic Bancorp by 620.7% in the second quarter. BlackRock Inc. now owns 6,962 shares of the company’s stock valued at $192,000 after buying an additional 5,996 shares during the period. Finally, BlackRock Advisors LLC raised its position in shares of Republic Bancorp by 20.5% in the second quarter. BlackRock Advisors LLC now owns 7,970 shares of the company’s stock valued at $220,000 after buying an additional 1,354 shares during the period. Institutional investors own 24.31% of the company’s stock.
About Republic Bancorp
Republic Bancorp, Inc (Republic) is a financial holding company of Republic Bank & Trust Company (the Bank) and Republic Insurance Services, Inc (the Captive). The Bank is a Kentucky-based, state chartered non-member financial institution. The Captive is an insurance subsidiary of the Company. It operates in four segments: Traditional Banking, which provides traditional banking products primarily to customers; Warehouse Lending (Warehouse), which provides short-term, revolving credit facilities to mortgage bankers across the Nation; Mortgage Banking, which originates, sells and services long-term, single family, first lien residential real estate loans, and Republic Processing Group (RPG), which facilitates the receipt and payment of federal and state tax refund products.