Republic Bancorp, Inc. (RBCAA) Position Raised by The Manufacturers Life Insurance Company
The Manufacturers Life Insurance Company raised its stake in Republic Bancorp, Inc. (NASDAQ:RBCAA) by 6.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,936 shares of the bank’s stock after acquiring an additional 449 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Republic Bancorp were worth $283,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of RBCAA. Dimensional Fund Advisors LP lifted its holdings in shares of Republic Bancorp by 3.0% in the second quarter. Dimensional Fund Advisors LP now owns 769,928 shares of the bank’s stock worth $27,487,000 after acquiring an additional 22,745 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Republic Bancorp by 5.4% in the first quarter. Vanguard Group Inc. now owns 390,308 shares of the bank’s stock worth $13,423,000 after acquiring an additional 19,998 shares during the last quarter. Menta Capital LLC lifted its holdings in shares of Republic Bancorp by 106.5% in the second quarter. Menta Capital LLC now owns 38,238 shares of the bank’s stock worth $1,365,000 after acquiring an additional 19,722 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of Republic Bancorp by 23.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 72,979 shares of the bank’s stock worth $2,510,000 after acquiring an additional 13,805 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Republic Bancorp by 10.7% in the 2nd quarter. Northern Trust Corp now owns 136,694 shares of the bank’s stock valued at $4,880,000 after buying an additional 13,224 shares during the last quarter. 24.42% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts recently issued reports on RBCAA shares. BidaskClub lowered shares of Republic Bancorp from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 8th. Zacks Investment Research upgraded shares of Republic Bancorp from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a report on Saturday, September 9th. Hovde Group lowered shares of Republic Bancorp from an “outperform” rating to a “market perform” rating and raised their price objective for the company from $39.00 to $41.00 in a report on Wednesday, October 4th. Finally, ValuEngine lowered shares of Republic Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, November 25th.
Republic Bancorp, Inc. (RBCAA) opened at $41.61 on Tuesday. The stock has a market cap of $867.94, a P/E ratio of 17.12 and a beta of 0.53. Republic Bancorp, Inc. has a fifty-two week low of $31.97 and a fifty-two week high of $44.04. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.26.
Republic Bancorp (NASDAQ:RBCAA) last released its earnings results on Friday, October 20th. The bank reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.05. The business had revenue of $58.68 million during the quarter. Republic Bancorp had a net margin of 19.02% and a return on equity of 8.18%. equities analysts expect that Republic Bancorp, Inc. will post 2.44 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 19th. Shareholders of record on Friday, December 15th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Thursday, December 14th. Republic Bancorp’s dividend payout ratio is presently 36.21%.
In other Republic Bancorp news, EVP Steven E. Deweese sold 7,000 shares of the stock in a transaction that occurred on Wednesday, October 25th. The shares were sold at an average price of $41.00, for a total transaction of $287,000.00. Following the completion of the sale, the executive vice president now owns 34,115 shares of the company’s stock, valued at approximately $1,398,715. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 52.30% of the company’s stock.
Republic Bancorp Profile
Republic Bancorp, Inc is a financial holding company of Republic Bank & Trust Company (the Bank) and Republic Insurance Services, Inc (the Captive). The Bank is a Kentucky-based, state chartered non-member financial institution. The Captive is an insurance subsidiary of the Company. The Company operates through four segments: Traditional Banking, which provides traditional banking products to customers; Warehouse Lending (Warehouse), which provides short-term, revolving credit facilities to mortgage bankers across the United States through mortgage warehouse lines of credit; Mortgage Banking, which originates, sells and services long-term, single family, first lien residential real estate loans, and Republic Processing Group (RPG), which facilitates the receipt and payment of federal and state tax refund products.
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