Connor Clark & Lunn Investment Management Ltd. Invests $375,000 in Republic Bancorp, Inc. (NASDAQ:RBCAA)

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Republic Bancorp, Inc. (NASDAQ:RBCAA) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,373 shares of the bank’s stock, valued at approximately $375,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its position 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 worth $14,345,000 after acquiring an additional 9,430 shares in the last quarter. Barclays PLC boosted its holdings in Republic Bancorp by 338.3% in the third quarter. Barclays PLC now owns 12,736 shares of the bank’s stock worth $831,000 after purchasing an additional 9,830 shares during the period. Baron Silver Stevens Financial Advisors LLC bought a new stake in Republic Bancorp during the fourth quarter valued at $280,000. JPMorgan Chase & Co. raised its holdings in shares of Republic Bancorp by 10.0% during the third quarter. JPMorgan Chase & Co. now owns 16,635 shares of the bank’s stock worth $1,086,000 after purchasing an additional 1,515 shares during the period. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Republic Bancorp in the 3rd quarter worth about $224,000. 24.37% of the stock is owned by institutional investors and hedge funds.

Republic Bancorp Trading Down 1.6 %

Shares of NASDAQ RBCAA opened at $63.87 on Monday. Republic Bancorp, Inc. has a 12-month low of $46.81 and a 12-month high of $80.68. The company has a market cap of $1.24 billion, a price-to-earnings ratio of 12.21 and a beta of 0.46. The company has a current ratio of 1.12, a quick ratio of 1.11 and a debt-to-equity ratio of 0.38. The stock’s 50 day simple moving average is $66.40 and its 200 day simple moving average is $68.53.

Republic Bancorp (NASDAQ:RBCAA) last posted its earnings results on Friday, January 24th. The bank reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.22). Republic Bancorp had a net margin of 20.05% and a return on equity of 10.60%.

Republic Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Friday, March 21st will be given a $0.451 dividend. This is a boost from Republic Bancorp’s previous quarterly dividend of $0.41. The ex-dividend date is Friday, March 21st. This represents a $1.80 annualized dividend and a yield of 2.82%. Republic Bancorp’s dividend payout ratio is 34.42%.

Analysts Set New Price Targets

Separately, Hovde Group dropped their price objective on shares of Republic Bancorp from $72.00 to $70.00 and set a “market perform” rating on the stock in a research note on Monday, January 27th.

Insider Activity

In other news, EVP John T. Rippy sold 3,082 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $65.99, for a total transaction of $203,381.18. Following the transaction, the executive vice president now directly owns 23,105 shares of the company’s stock, valued at approximately $1,524,698.95. This trade represents a 11.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David P. Feaster sold 1,406 shares of the company’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $66.42, for a total transaction of $93,386.52. Following the completion of the sale, the director now directly owns 4,303 shares of the company’s stock, valued at $285,805.26. The trade was a 24.63 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 55.50% of the company’s stock.

Republic Bancorp Profile

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.