Republic Bancorp (NASDAQ:RBCAA) Reaches New 52-Week High – Should You Buy?

Shares of Republic Bancorp, Inc. (NASDAQ:RBCAA) reached a new 52-week high during trading on Wednesday . The company traded as high as $76.29 and last traded at $75.23, with a volume of 4306 shares traded. The stock had previously closed at $68.12.

Wall Street Analyst Weigh In

Separately, Hovde Group upped their price target on shares of Republic Bancorp from $68.00 to $78.00 and gave the company an “outperform” rating in a research note on Friday, October 18th.

Republic Bancorp Price Performance

The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of 14.30 and a beta of 0.51. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.39. The stock has a 50-day moving average price of $65.04 and a 200 day moving average price of $58.67.

Republic Bancorp (NASDAQ:RBCAA) last posted its quarterly earnings data on Friday, October 18th. The bank reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.16. The business had revenue of $118.36 million during the quarter. Republic Bancorp had a return on equity of 10.92% and a net margin of 20.65%.

Insider Buying and Selling

In other news, 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 transaction, the executive vice president now directly owns 4,240 shares in the company, valued at $270,172.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Republic Bancorp news, EVP Juan Montano sold 2,750 shares of Republic Bancorp stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $63.37, for a total transaction of $174,267.50. Following the transaction, the executive vice president now directly owns 8,558 shares of the company’s stock, valued at $542,320.46. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christy Ames sold 1,715 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were 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 in the company, valued at $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 4,715 shares of company stock worth $299,172. 56.60% of the stock is owned by corporate insiders.

Institutional Trading of Republic Bancorp

Several institutional investors have recently made changes to their positions in RBCAA. Dimensional Fund Advisors LP lifted its position in Republic Bancorp by 0.9% in the second quarter. Dimensional Fund Advisors LP now owns 952,102 shares of the bank’s stock valued at $51,040,000 after buying an additional 8,382 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Republic Bancorp by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 500,726 shares of the bank’s stock worth $25,537,000 after purchasing an additional 2,043 shares during the period. American Century Companies Inc. increased its holdings in Republic Bancorp by 17.0% in the 2nd quarter. American Century Companies Inc. now owns 146,090 shares of the bank’s stock valued at $7,832,000 after purchasing an additional 21,261 shares during the last quarter. Bank of New York Mellon Corp raised its position in Republic Bancorp by 1.6% in the second quarter. Bank of New York Mellon Corp now owns 76,927 shares of the bank’s stock valued at $4,124,000 after purchasing an additional 1,226 shares during the period. Finally, Empowered Funds LLC lifted its stake in Republic Bancorp by 2.0% during the third quarter. Empowered Funds LLC now owns 61,825 shares of the bank’s stock worth $4,037,000 after purchasing an additional 1,204 shares in 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.