BidaskClub Downgrades Republic Bancorp (NASDAQ:RBCAA) to Sell

Republic Bancorp (NASDAQ:RBCAA) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Thursday, BidAskClub reports.

Separately, TheStreet upgraded Republic Bancorp from a “c+” rating to a “b” rating in a research note on Friday, October 30th.

Shares of NASDAQ:RBCAA opened at $36.07 on Thursday. The firm has a market capitalization of $754.44 million, a PE ratio of 8.49 and a beta of 0.65. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.08 and a quick ratio of 1.07. The business has a 50-day moving average of $36.77 and a two-hundred day moving average of $32.75. Republic Bancorp has a 12 month low of $27.05 and a 12 month high of $47.17.

Republic Bancorp (NASDAQ:RBCAA) last announced its quarterly earnings results on Friday, October 16th. The bank reported $0.98 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.57. The company had revenue of $72.85 million during the quarter. Republic Bancorp had a return on equity of 10.45% and a net margin of 25.45%.

In other Republic Bancorp news, Director David P. Feaster purchased 1,000 shares of Republic Bancorp stock in a transaction that occurred on Friday, November 27th. The stock was purchased at an average price of $37.74 per share, with a total value of $37,740.00. Following the completion of the acquisition, the director now owns 1,302 shares of the company’s stock, valued at approximately $49,137.48. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 1,700 shares of company stock valued at $62,160. Insiders own 51.80% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Federated Hermes Inc. boosted its holdings in Republic Bancorp by 2.0% in the second quarter. Federated Hermes Inc. now owns 25,172 shares of the bank’s stock valued at $823,000 after purchasing an additional 488 shares during the last quarter. California Public Employees Retirement System lifted its holdings in Republic Bancorp by 2.8% during the 3rd quarter. California Public Employees Retirement System now owns 22,092 shares of the bank’s stock worth $622,000 after buying an additional 600 shares during the last quarter. Bank of Montreal Can bought a new position in Republic Bancorp during the 2nd quarter worth approximately $33,000. Nuveen Asset Management LLC lifted its holdings in Republic Bancorp by 3.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 36,674 shares of the bank’s stock worth $1,200,000 after buying an additional 1,379 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in Republic Bancorp by 26.4% during the 2nd quarter. Sei Investments Co. now owns 7,666 shares of the bank’s stock worth $251,000 after buying an additional 1,600 shares during the last quarter. 26.66% of the stock is owned by hedge funds and other institutional investors.

About Republic Bancorp

Republic Bancorp, Inc, a financial holding company, provides banking products and services in the United States. It operates through five segments: Traditional Banking, Warehouse Lending, Mortgage Banking, Tax Refund Solutions, and Republic Credit Solutions. The company accepts demand, savings, time, and brokered and other certificates of deposits; and money market and individual retirement accounts.

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