California State Teachers Retirement System lowered its stake in shares of Republic Bancorp Inc. (NASDAQ:RBCAA) by 3.9% during the second quarter, Holdings Channel reports. The institutional investor owned 20,260 shares of the company’s stock after selling 826 shares during the period. California State Teachers Retirement System owned approximately 0.10% of Republic Bancorp worth $560,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its position in shares of Republic Bancorp by 5.9% in the second quarter. Bank of New York Mellon Corp now owns 82,929 shares of the company’s stock valued at $2,291,000 after buying an additional 4,604 shares during the period. Stock Yards Bank & Trust Co. acquired a new position in shares of Republic Bancorp during the second quarter valued at approximately $221,000. Renaissance Technologies LLC increased its position in shares of Republic Bancorp by 40.9% in the first quarter. Renaissance Technologies LLC now owns 47,500 shares of the company’s stock valued at $1,227,000 after buying an additional 13,787 shares during the period. AXA increased its position in shares of Republic Bancorp by 312.7% in the first quarter. AXA now owns 26,000 shares of the company’s stock valued at $672,000 after buying an additional 19,700 shares during the period. Finally, State Street Corp increased its position in shares of Republic Bancorp by 0.4% in the first quarter. State Street Corp now owns 164,142 shares of the company’s stock valued at $4,241,000 after buying an additional 673 shares during the period. 24.31% of the stock is currently owned by hedge funds and other institutional investors.
Republic Bancorp Inc. (NASDAQ:RBCAA) traded down 1.74% during trading on Friday, hitting $31.13. The stock had a trading volume of 8,453 shares. Republic Bancorp Inc. has a one year low of $23.00 and a one year high of $33.26. The firm has a 50 day moving average of $31.20 and a 200-day moving average of $28.62. The company has a market cap of $649.43 million, a P/E ratio of 16.67 and a beta of 0.72.
Republic Bancorp (NASDAQ:RBCAA) last released its earnings results on Friday, July 22nd. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.04. Republic Bancorp had a return on equity of 6.70% and a net margin of 18.78%. Equities analysts anticipate that Republic Bancorp Inc. will post $2.04 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 21st. Stockholders of record on Friday, September 16th will be given a $0.209 dividend. The ex-dividend date is Wednesday, September 14th. This represents a $0.84 annualized dividend and a dividend yield of 2.69%. Republic Bancorp’s dividend payout ratio (DPR) is presently 44.68%.
Separately, Zacks Investment Research raised Republic Bancorp from a “hold” rating to a “strong-buy” rating and set a $36.00 price target on the stock in a research report on Tuesday, August 16th.
Republic Bancorp Company Profile
Republic Bancorp, Inc (Republic) 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. It operates in four segments: Traditional Banking, which provides traditional banking products primarily to customers; Warehouse Lending (Warehouse), which provides short-term, revolving credit facilities to mortgage bankers across the Nation; 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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