Republic Bancorp (NASDAQ:RBCAA) Given New $78.00 Price Target at Hovde Group

Republic Bancorp (NASDAQ:RBCAA) had its target price boosted by Hovde Group from $68.00 to $78.00 in a research report report published on Friday morning, Marketbeat.com reports. Hovde Group currently has an outperform rating on the bank’s stock.

Republic Bancorp Trading Down 3.1 %

Shares of RBCAA stock opened at $66.94 on Friday. The company has a 50 day moving average of $63.34 and a 200-day moving average of $57.17. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.39. Republic Bancorp has a 12-month low of $42.51 and a 12-month high of $70.00. The firm has a market cap of $1.82 billion, a P/E ratio of 14.06 and a beta of 0.52.

Republic Bancorp (NASDAQ:RBCAA) last announced its quarterly earnings results on Friday, October 18th. The bank reported $1.37 EPS for the quarter, beating the consensus estimate of $1.21 by $0.16. Republic Bancorp had a net margin of 20.41% and a return on equity of 10.50%. The firm had revenue of $118.36 million during the quarter.

Insiders Place Their Bets

In other Republic Bancorp news, EVP Pedro A. Bryant sold 2,500 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $65.61, for a total value of $164,025.00. Following the transaction, the executive vice president now owns 1,425 shares in the company, valued at approximately $93,494.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Kevin D. Sipes sold 10,074 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $65.07, for a total value of $655,515.18. Following the transaction, the chief financial officer now owns 70,086 shares in the company, valued at approximately $4,560,496.02. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Pedro A. Bryant sold 2,500 shares of the stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $65.61, for a total transaction of $164,025.00. Following the transaction, the executive vice president now owns 1,425 shares in the company, valued at approximately $93,494.25. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,078 shares of company stock valued at $1,170,715 over the last three months. Insiders own 55.50% of the company’s stock.

Institutional Trading of Republic Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RBCAA. Inspire Advisors LLC purchased a new position in Republic Bancorp during the second quarter valued at $1,546,000. American Century Companies Inc. boosted its stake in shares of Republic Bancorp by 17.0% during the 2nd quarter. American Century Companies Inc. now owns 146,090 shares of the bank’s stock worth $7,832,000 after purchasing an additional 21,261 shares during the period. Los Angeles Capital Management LLC boosted its position in Republic Bancorp by 113.9% in the 2nd quarter. Los Angeles Capital Management LLC now owns 21,205 shares of the bank’s stock valued at $1,137,000 after buying an additional 11,290 shares during the period. Dimensional Fund Advisors LP boosted its position in Republic Bancorp by 0.9% in the 2nd 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 period. Finally, CM Management LLC raised its holdings in shares of Republic Bancorp by 16.7% in the 2nd quarter. CM Management LLC now owns 35,000 shares of the bank’s stock valued at $1,876,000 after purchasing an additional 5,000 shares in the last quarter. 24.37% of the stock is owned by hedge funds and other institutional investors.

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.