Republic Bancorp, Inc. (NASDAQ:RBCAA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday. The brokerage currently has a $43.00 target price on the bank’s stock. Zacks Investment Research‘s price target indicates a potential upside of 9.22% from the stock’s previous close.
According to Zacks, “Republic Bancorp, Inc. is a financial holding company. “
Other equities research analysts have also issued reports about the stock. Hovde Group lowered shares of Republic Bancorp from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from $39.00 to $41.00 in a report on Wednesday, October 4th. BidaskClub lowered shares of Republic Bancorp from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 8th.
Shares of Republic Bancorp (NASDAQ:RBCAA) opened at $39.37 on Friday. The firm has a market cap of $808.82, a P/E ratio of 15.87 and a beta of 0.50. The company has a quick ratio of 1.30, a current ratio of 1.21 and a debt-to-equity ratio of 1.26. Republic Bancorp has a 1-year low of $31.97 and a 1-year high of $44.04.
Republic Bancorp (NASDAQ:RBCAA) last announced its quarterly earnings data on Friday, October 20th. The bank reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.05. The firm had revenue of $58.68 million during the quarter. Republic Bancorp had a net margin of 18.24% and a return on equity of 6.82%. research analysts predict that Republic Bancorp will post 2.33 earnings per share for the current year.
In other Republic Bancorp news, EVP Steven E. Deweese sold 7,000 shares of the business’s stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $41.00, for a total transaction of $287,000.00. Following the transaction, the executive vice president now directly owns 34,115 shares of the company’s stock, valued at approximately $1,398,715. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Steven E. Deweese sold 1,000 shares of the business’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $34.50, for a total transaction of $34,500.00. Following the transaction, the executive vice president now directly owns 42,230 shares in the company, valued at $1,456,935. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,115 shares of company stock valued at $361,071. Company insiders own 52.30% of the company’s stock.
A number of institutional investors have recently modified their holdings of RBCAA. SG Americas Securities LLC purchased a new position in Republic Bancorp during the 2nd quarter valued at $165,000. American International Group Inc. increased its position in Republic Bancorp by 7.1% during the 1st quarter. American International Group Inc. now owns 5,947 shares of the bank’s stock valued at $205,000 after purchasing an additional 392 shares during the period. The Manufacturers Life Insurance Company increased its position in Republic Bancorp by 6.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,936 shares of the bank’s stock valued at $283,000 after purchasing an additional 449 shares during the period. Wells Fargo & Company MN increased its position in Republic Bancorp by 24.3% during the 2nd quarter. Wells Fargo & Company MN now owns 9,785 shares of the bank’s stock valued at $350,000 after purchasing an additional 1,911 shares during the period. Finally, New York State Common Retirement Fund increased its position in Republic Bancorp by 24.2% during the 2nd quarter. New York State Common Retirement Fund now owns 11,300 shares of the bank’s stock valued at $403,000 after purchasing an additional 2,199 shares during the period. 24.22% of the stock is currently owned by institutional investors and hedge funds.
Republic Bancorp Company Profile
Republic Bancorp, Inc 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. The Company operates through four segments: Traditional Banking, which provides traditional banking products to customers; Warehouse Lending (Warehouse), which provides short-term, revolving credit facilities to mortgage bankers across the United States through mortgage warehouse lines of credit; 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.
Receive News & Ratings for Republic Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Republic Bancorp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.