Insider Selling: Republic Bancorp, Inc. (NASDAQ:RBCAA) Director Sells 1,406 Shares of Stock

Republic Bancorp, Inc. (NASDAQ:RBCAA) Director David P. Feaster sold 1,406 shares of Republic Bancorp stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $66.42, for a total value of $93,386.52. Following the completion of the transaction, the director now owns 4,303 shares of the company’s stock, valued at approximately $285,805.26. This trade represents a 24.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Republic Bancorp Price Performance

Shares of RBCAA traded down $1.33 during mid-day trading on Thursday, reaching $65.47. 30,138 shares of the stock traded hands, compared to its average volume of 23,175. The company has a current ratio of 1.12, a quick ratio of 1.11 and a debt-to-equity ratio of 0.38. Republic Bancorp, Inc. has a 1 year low of $46.55 and a 1 year high of $80.68. The company has a market cap of $1.27 billion, a price-to-earnings ratio of 12.45 and a beta of 0.56. The firm has a fifty day moving average price of $71.61 and a 200 day moving average price of $67.39.

Republic Bancorp (NASDAQ:RBCAA) last released its quarterly earnings results on Friday, January 24th. The bank reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.22). Republic Bancorp had a net margin of 20.65% and a return on equity of 10.79%.

Republic Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Friday, March 21st will be issued a $0.451 dividend. This is a positive change from Republic Bancorp’s previous quarterly dividend of $0.41. The ex-dividend date is Friday, March 21st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.76%. Republic Bancorp’s dividend payout ratio is presently 30.99%.

Analyst Upgrades and Downgrades

Separately, Hovde Group lowered their price target on shares of Republic Bancorp from $72.00 to $70.00 and set a “market perform” rating on the stock in a report on Monday.

Institutional Trading of Republic Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the stock. Los Angeles Capital Management LLC boosted its stake in shares of Republic Bancorp by 50.1% in the 3rd quarter. Los Angeles Capital Management LLC now owns 31,822 shares of the bank’s stock valued at $2,078,000 after purchasing an additional 10,617 shares in the last quarter. Barclays PLC lifted its stake in Republic Bancorp by 338.3% in the third quarter. Barclays PLC now owns 12,736 shares of the bank’s stock worth $831,000 after purchasing an additional 9,830 shares during the last quarter. Geode Capital Management LLC boosted its position in Republic Bancorp by 4.5% during the third quarter. Geode Capital Management LLC now owns 219,628 shares of the bank’s stock valued at $14,345,000 after buying an additional 9,430 shares during the period. Meridian Wealth Management LLC purchased a new stake in Republic Bancorp during the third quarter valued at about $391,000. Finally, State Street Corp grew its stake in shares of Republic Bancorp by 2.2% during the third quarter. State Street Corp now owns 210,298 shares of the bank’s stock valued at $13,816,000 after buying an additional 4,429 shares during the last quarter. Hedge funds and other 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.