Teacher Retirement System of Texas Decreases Stake in Republic Bancorp, Inc. (NASDAQ:RBCAA)

Teacher Retirement System of Texas cut its holdings in shares of Republic Bancorp, Inc. (NASDAQ:RBCAA) by 14.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,271 shares of the bank’s stock after selling 1,353 shares during the period. Teacher Retirement System of Texas’ holdings in Republic Bancorp were worth $578,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Geode Capital Management LLC grew its stake in shares of Republic Bancorp by 4.5% in the third quarter. Geode Capital Management LLC now owns 219,628 shares of the bank’s stock worth $14,345,000 after acquiring an additional 9,430 shares during the period. Barclays PLC boosted its holdings 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. Baron Silver Stevens Financial Advisors LLC purchased a new stake in Republic Bancorp during the 4th quarter valued at $280,000. JPMorgan Chase & Co. raised its stake in Republic Bancorp by 10.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 16,635 shares of the bank’s stock valued at $1,086,000 after buying an additional 1,515 shares during the last quarter. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Republic Bancorp during the 3rd quarter valued at $224,000. 24.37% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Republic Bancorp news, EVP John T. Rippy sold 3,082 shares of Republic Bancorp stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $65.99, for a total value of $203,381.18. Following the sale, the executive vice president now owns 23,105 shares of the company’s stock, valued at $1,524,698.95. The trade was a 11.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director David P. Feaster sold 1,406 shares of the stock in a transaction that occurred 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 transaction, the director now owns 4,303 shares of the company’s stock, valued at $285,805.26. This represents a 24.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 56.40% of the stock is owned by company insiders.

Analyst Ratings Changes

Separately, Hovde Group reduced their price objective on Republic Bancorp from $72.00 to $70.00 and set a “market perform” rating for the company in a research report on Monday, January 27th.

Republic Bancorp Stock Down 2.6 %

NASDAQ RBCAA opened at $64.45 on Monday. Republic Bancorp, Inc. has a 52 week low of $46.81 and a 52 week high of $80.68. The company has a quick ratio of 1.11, a current ratio of 1.12 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $1.26 billion, a P/E ratio of 12.32 and a beta of 0.46. The stock’s 50-day moving average price is $66.19 and its 200-day moving average price is $68.65.

Republic Bancorp (NASDAQ:RBCAA) last issued its quarterly earnings results on Friday, January 24th. The bank reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.22). Republic Bancorp had a return on equity of 10.60% and a net margin of 20.05%.

Republic Bancorp Increases Dividend

The business also recently announced 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 represents a $1.80 annualized dividend and a dividend yield of 2.80%. The ex-dividend date of this dividend is Friday, March 21st. This is an increase from Republic Bancorp’s previous quarterly dividend of $0.41. Republic Bancorp’s payout ratio is 34.42%.

Republic Bancorp 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.