Virginia Retirement Systems ET AL purchased a new stake in Republic Bancorp Inc. (NASDAQ:RBCAA) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 12,864 shares of the company’s stock, valued at approximately $355,000. Virginia Retirement Systems ET AL owned about 0.06% of Republic Bancorp at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp boosted its stake 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. AXA boosted its stake 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. KBC Group NV boosted its stake in shares of Republic Bancorp by 225.7% in the second quarter. KBC Group NV now owns 3,671 shares of the company’s stock valued at $101,000 after buying an additional 2,544 shares during the period. Stadium Capital Management LLC boosted its stake in shares of Republic Bancorp by 19.0% in the first quarter. Stadium Capital Management LLC now owns 442,776 shares of the company’s stock valued at $11,437,000 after buying an additional 70,745 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of Republic Bancorp by 26.5% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 13,227 shares of the company’s stock valued at $365,000 after buying an additional 2,775 shares during the period. 24.31% of the stock is currently owned by institutional investors and hedge funds.
Republic Bancorp Inc. (NASDAQ:RBCAA) opened at 31.13 on Friday. Republic Bancorp Inc. has a 52 week low of $23.00 and a 52 week 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 stock has a market capitalization of $649.43 million, a price-to-earnings ratio of 16.67 and a beta of 0.72.
Republic Bancorp (NASDAQ:RBCAA) last issued its earnings results on Friday, July 22nd. The company reported $0.40 earnings per share (EPS) for the quarter, topping the Zacks’ 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%. On average, analysts anticipate that Republic Bancorp Inc. will post $2.04 EPS for the current 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 issued a dividend of $0.209 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date is Wednesday, September 14th. Republic Bancorp’s payout ratio is currently 44.68%.
Separately, Zacks Investment Research upgraded shares of Republic Bancorp from a “hold” rating to a “strong-buy” rating and set a $36.00 price target on the stock in a research note on Tuesday, August 16th.
About Republic Bancorp
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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