Republic Bancorp, Inc. KY (RBCAA) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Republic Bancorp, Inc. KY (NASDAQ:RBCAA) from a hold rating to a sell rating in a report published on Tuesday morning.

According to Zacks, “Republic Bancorp, Inc. is a financial holding company. “

Separately, Hovde Group raised Republic Bancorp, Inc. KY from a market perform rating to an outperform rating and set a $39.00 target price on the stock in a report on Wednesday, March 29th.

Republic Bancorp, Inc. KY (NASDAQ:RBCAA) traded down 0.23% during trading on Tuesday, hitting $34.37. 21,415 shares of the stock were exchanged. Republic Bancorp, Inc. KY has a one year low of $26.31 and a one year high of $40.74. The company has a market cap of $716.72 million, a price-to-earnings ratio of 15.69 and a beta of 0.60. The stock’s 50 day moving average is $34.86 and its 200-day moving average is $35.78.

Republic Bancorp, Inc. KY (NASDAQ:RBCAA) last issued its quarterly earnings results on Thursday, April 20th. The bank reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by $0.02. The business had revenue of $81.36 million for the quarter. Republic Bancorp, Inc. KY had a net margin of 19.83% and a return on equity of 7.71%. On average, equities research analysts expect that Republic Bancorp, Inc. KY will post $2.31 earnings per share for the current fiscal year.

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The business also recently declared a quarterly dividend, which will be paid on Friday, July 21st. Investors of record on Friday, June 16th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $0.88 dividend on an annualized basis and a yield of 2.55%. This is a boost from Republic Bancorp, Inc. KY’s previous quarterly dividend of $0.21. Republic Bancorp, Inc. KY’s dividend payout ratio (DPR) is currently 38.18%.

A number of institutional investors have recently modified their holdings of the company. Formidable Asset Management LLC boosted its position in shares of Republic Bancorp, Inc. KY by 0.7% in the fourth quarter. Formidable Asset Management LLC now owns 24,307 shares of the bank’s stock worth $961,000 after buying an additional 173 shares in the last quarter. Glenview Trust Co raised its stake in shares of Republic Bancorp, Inc. KY by 1.8% in the first quarter. Glenview Trust Co now owns 17,248 shares of the bank’s stock worth $593,000 after buying an additional 300 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Republic Bancorp, Inc. KY by 0.8% in the first quarter. First Trust Advisors LP now owns 41,570 shares of the bank’s stock worth $1,430,000 after buying an additional 346 shares during the last quarter. American International Group Inc. raised its stake in shares of Republic Bancorp, Inc. KY by 7.1% in the first quarter. American International Group Inc. now owns 5,947 shares of the bank’s stock worth $205,000 after buying an additional 392 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Republic Bancorp, Inc. KY by 0.4% in the first quarter. Bank of America Corp DE now owns 93,652 shares of the bank’s stock worth $3,221,000 after buying an additional 414 shares during the last quarter. 24.80% of the stock is currently owned by hedge funds and other institutional investors.

Republic Bancorp, Inc. KY Company 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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