Republic Bancorp (NASDAQ:RBCAA) Sees Large Volume Increase

Shares of Republic Bancorp, Inc. (NASDAQ:RBCAA – Get Rating) saw an uptick in trading volume on Friday . 11,478 shares traded hands during mid-day trading, a decline of 13% from the previous session’s volume of 13,206 shares.The stock last traded at $40.95 and had previously closed at $41.46.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RBCAA. StockNews.com lowered shares of Republic Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, March 10th. Piper Sandler raised shares of Republic Bancorp from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $47.00 to $51.00 in a research report on Thursday, January 12th.

Republic Bancorp Price Performance

The stock has a market cap of $802.26 million, a P/E ratio of 8.96 and a beta of 0.60. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. The company’s fifty day simple moving average is $43.78 and its 200-day simple moving average is $42.71.

Republic Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 21st. Stockholders of record on Friday, March 17th will be paid a $0.374 dividend. This represents a $1.50 annualized dividend and a dividend yield of 3.68%. The ex-dividend date of this dividend is Thursday, March 16th. This is an increase from Republic Bancorp’s previous quarterly dividend of $0.34. Republic Bancorp’s payout ratio is currently 30.02%.

Institutional Investors Weigh In On Republic Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the company. Financial Management Professionals Inc. acquired a new stake in shares of Republic Bancorp in the 4th quarter valued at $27,000. Ensign Peak Advisors Inc acquired a new position in Republic Bancorp during the 3rd quarter worth about $29,000. Lazard Asset Management LLC acquired a new position in Republic Bancorp during the 2nd quarter worth about $31,000. Tower Research Capital LLC TRC lifted its position in Republic Bancorp by 150.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 922 shares of the bank’s stock worth $36,000 after buying an additional 554 shares in the last quarter. Finally, Quent Capital LLC acquired a new position in Republic Bancorp during the 4th quarter worth about $60,000. Institutional investors and hedge funds own 23.83% of the company’s stock.

About Republic Bancorp

(Get Rating)

Republic Bancorp, Incis a financial holding company. Its services include personal, business, mortgages, lending, treasury management, and private banking. It operates through the following business segments: Traditional Banking, Warehouse Lending, Mortgage Banking, Tax Refund Solutions, and Republic Credit Solutions.