Republic Bancorp (NASDAQ:RBCAA) Stock Price Crosses Above Two Hundred Day Moving Average of $49.68

Republic Bancorp, Inc. (NASDAQ:RBCAA)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $49.68 and traded as high as $53.88. Republic Bancorp shares last traded at $53.82, with a volume of 30,609 shares traded.

Wall Street Analysts Forecast Growth

Separately, Hovde Group began coverage on Republic Bancorp in a research report on Monday, March 4th. They set an “outperform” rating on the stock.

Republic Bancorp Stock Up 2.3 %

The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.06 and a current ratio of 1.07. The firm’s 50 day moving average price is $49.49 and its two-hundred day moving average price is $49.68. The company has a market cap of $1.04 billion, a P/E ratio of 11.31 and a beta of 0.56.

Insiders Place Their Bets

In related news, Director Michael T. Rust sold 1,400 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $47.43, for a total value of $66,402.00. Following the completion of the sale, the director now directly owns 20,772 shares of the company’s stock, valued at approximately $985,215.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 55.50% of the company’s stock.

Hedge Funds Weigh In On Republic Bancorp

A number of hedge funds have recently added to or reduced their stakes in RBCAA. Allspring Global Investments Holdings LLC boosted its stake in Republic Bancorp by 27.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,274 shares of the bank’s stock valued at $144,000 after acquiring an additional 705 shares during the last quarter. SG Americas Securities LLC purchased a new position in Republic Bancorp in the 3rd quarter valued at approximately $171,000. Money Concepts Capital Corp bought a new stake in Republic Bancorp during the 3rd quarter valued at $201,000. BNP Paribas Financial Markets grew its position in shares of Republic Bancorp by 82.7% in the first quarter. BNP Paribas Financial Markets now owns 4,258 shares of the bank’s stock valued at $217,000 after purchasing an additional 1,927 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new stake in Republic Bancorp during the 3rd quarter worth about $274,000. Institutional investors and hedge funds own 24.37% of the company’s stock.

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.