JPMorgan Chase & Co. Grows Stake in Republic Bancorp, Inc. (NASDAQ:RBCAA)

JPMorgan Chase & Co. grew its holdings in shares of Republic Bancorp, Inc. (NASDAQ:RBCAA) by 10.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 16,635 shares of the bank’s stock after acquiring an additional 1,515 shares during the quarter. JPMorgan Chase & Co.’s holdings in Republic Bancorp were worth $1,086,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RBCAA. Los Angeles Capital Management LLC lifted its holdings in Republic Bancorp by 50.1% in the third quarter. Los Angeles Capital Management LLC now owns 31,822 shares of the bank’s stock worth $2,078,000 after buying an additional 10,617 shares during the period. Barclays PLC raised its position in shares of Republic Bancorp by 338.3% in the 3rd quarter. Barclays PLC now owns 12,736 shares of the bank’s stock worth $831,000 after acquiring an additional 9,830 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Republic Bancorp by 4.5% in the 3rd quarter. Geode Capital Management LLC now owns 219,628 shares of the bank’s stock valued at $14,345,000 after purchasing an additional 9,430 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Republic Bancorp by 0.9% during the second quarter. Dimensional Fund Advisors LP now owns 952,102 shares of the bank’s stock valued at $51,040,000 after purchasing an additional 8,382 shares in the last quarter. Finally, Meridian Wealth Management LLC purchased a new stake in Republic Bancorp in the third quarter worth $391,000. Institutional investors own 24.37% of the company’s stock.

Insider Transactions at Republic Bancorp

In other Republic Bancorp news, Director Heather V. Howell sold 1,496 shares of Republic Bancorp stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $75.63, for a total value of $113,142.48. Following the completion of the transaction, the director now directly owns 7,491 shares of the company’s stock, valued at approximately $566,544.33. The trade was a 16.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 55.50% of the company’s stock.

Analysts Set New Price Targets

Separately, Hovde Group downgraded Republic Bancorp from an “outperform” rating to a “market perform” rating and increased their price objective for the stock from $78.00 to $80.00 in a report on Wednesday, November 13th.

Republic Bancorp Trading Down 2.4 %

Shares of NASDAQ RBCAA opened at $66.99 on Friday. Republic Bancorp, Inc. has a 1 year low of $46.55 and a 1 year high of $80.68. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.12 and a quick ratio of 1.11. The firm has a 50-day moving average of $72.28 and a 200 day moving average of $66.94. The stock has a market cap of $1.30 billion, a P/E ratio of 12.74 and a beta of 0.56.

Republic Bancorp (NASDAQ:RBCAA) last released its earnings results on Friday, January 24th. The bank reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.22). Republic Bancorp had a net margin of 20.65% and a return on equity of 10.79%.

Republic Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Friday, March 21st will be issued a $0.451 dividend. This represents a $1.80 annualized dividend and a yield of 2.69%. This is an increase from Republic Bancorp’s previous quarterly dividend of $0.41. The ex-dividend date is Friday, March 21st. Republic Bancorp’s payout ratio is 30.99%.

About Republic Bancorp

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.