Allspring Global Investments Holdings LLC Raises Stake in Republic Bancorp, Inc. (NASDAQ:RBCAA)

Allspring Global Investments Holdings LLC increased its stake in Republic Bancorp, Inc. (NASDAQ:RBCAAFree Report) by 27.4% during the third quarter, according to its most recent filing with the SEC. The fund owned 3,274 shares of the bank’s stock after buying an additional 705 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Republic Bancorp were worth $144,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ensign Peak Advisors Inc purchased a new position in shares of Republic Bancorp during the 3rd quarter valued at $29,000. Citigroup Inc. boosted its position in Republic Bancorp by 59.3% during the first quarter. Citigroup Inc. now owns 688 shares of the bank’s stock worth $29,000 after purchasing an additional 256 shares during the period. Tower Research Capital LLC TRC boosted its position in Republic Bancorp by 150.5% during the third quarter. Tower Research Capital LLC TRC now owns 922 shares of the bank’s stock worth $36,000 after purchasing an additional 554 shares during the period. Barclays PLC raised its position in shares of Republic Bancorp by 389.9% in the fourth quarter. Barclays PLC now owns 2,337 shares of the bank’s stock valued at $95,000 after purchasing an additional 1,860 shares during the period. Finally, Royal Bank of Canada lifted its stake in shares of Republic Bancorp by 13.6% during the 2nd quarter. Royal Bank of Canada now owns 3,442 shares of the bank’s stock valued at $146,000 after buying an additional 413 shares in the last quarter. 23.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Republic Bancorp

In other news, EVP Juan Montano sold 5,500 shares of the business’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $46.38, for a total transaction of $255,090.00. Following the completion of the transaction, the executive vice president now directly owns 10,821 shares in the company, valued at approximately $501,877.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 55.50% of the stock is owned by corporate insiders.

Republic Bancorp Price Performance

Shares of NASDAQ RBCAA opened at $51.19 on Thursday. The stock has a market cap of $992.06 million, a PE ratio of 11.13 and a beta of 0.60. Republic Bancorp, Inc. has a fifty-two week low of $37.23 and a fifty-two week high of $57.54. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.07 and a current ratio of 1.08. The stock has a fifty day moving average of $51.74 and a 200-day moving average of $47.32.

Republic Bancorp (NASDAQ:RBCAAGet Free Report) last posted its earnings results on Friday, January 26th. The bank reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.28. The business had revenue of $105.57 million during the quarter. Republic Bancorp had a return on equity of 10.46% and a net margin of 21.16%.

Republic Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 19th. Investors of record on Friday, March 15th will be paid a dividend of $0.407 per share. The ex-dividend date is Thursday, March 14th. This represents a $1.63 annualized dividend and a yield of 3.18%. This is a boost from Republic Bancorp’s previous quarterly dividend of $0.37. Republic Bancorp’s payout ratio is currently 32.61%.

Analyst Upgrades and Downgrades

Separately, began coverage on shares of Republic Bancorp in a research note on Thursday, October 5th. They issued a “hold” rating for the company.

Check Out Our Latest Stock Analysis on RBCAA

About Republic Bancorp

(Free Report)

Republic Bancorp, Inc, a financial holding company, provides various banking products and services in the United States. It operates in five segments: Traditional Banking, Warehouse, Mortgage Banking, Tax Refund Solutions, and Republic Credit Solutions. The company accepts demand, money market accounts, savings, individual retirement accounts, time, brokered, and other certificates of deposit.

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Institutional Ownership by Quarter for Republic Bancorp (NASDAQ:RBCAA)

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