Hovde Group Cuts Republic Bancorp (NASDAQ:RBCAA) Price Target to $70.00

Republic Bancorp (NASDAQ:RBCAA) had its target price dropped by equities researchers at Hovde Group from $72.00 to $70.00 in a research report issued to clients and investors on Monday,Briefing.com Automated Import reports. The firm presently has a “market perform” rating on the bank’s stock. Hovde Group’s target price would suggest a potential upside of 4.49% from the stock’s current price.

Republic Bancorp Trading Down 2.4 %

Shares of Republic Bancorp stock opened at $66.99 on Monday. Republic Bancorp has a 52-week low of $46.55 and a 52-week high of $80.68. The firm has a market capitalization of $1.30 billion, a PE ratio of 12.74 and a beta of 0.56. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.12 and a quick ratio of 1.11. The company’s fifty day moving average price is $72.10 and its two-hundred day moving average price is $67.15.

Republic Bancorp (NASDAQ:RBCAA) last issued its 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%.

Insider Activity at Republic Bancorp

In related news, Director Heather V. Howell sold 1,496 shares of Republic Bancorp stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $75.63, for a total value of $113,142.48. Following the completion of the transaction, the director now directly owns 7,491 shares of the company’s stock, valued at $566,544.33. The trade was a 16.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 55.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Republic Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC boosted its holdings in Republic Bancorp by 50.1% in the third quarter. Los Angeles Capital Management LLC now owns 31,822 shares of the bank’s stock valued at $2,078,000 after acquiring an additional 10,617 shares during the last quarter. Barclays PLC boosted its stake in shares of Republic Bancorp by 338.3% in the 3rd quarter. Barclays PLC now owns 12,736 shares of the bank’s stock valued at $831,000 after purchasing an additional 9,830 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Republic Bancorp by 4.5% in the 3rd quarter. Geode Capital Management LLC now owns 219,628 shares of the bank’s stock valued at $14,345,000 after purchasing an additional 9,430 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Republic Bancorp by 0.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 952,102 shares of the bank’s stock worth $51,040,000 after buying an additional 8,382 shares during the period. Finally, Meridian Wealth Management LLC bought a new stake in shares of Republic Bancorp during the third quarter worth approximately $391,000. Institutional investors and hedge funds own 24.37% of the company’s stock.

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.