Republic Bancorp, Inc. KY (NASDAQ:RBCAA) Sees Large Increase in Short Interest

Republic Bancorp, Inc. KY (NASDAQ:RBCAA) was the recipient of a large growth in short interest in the month of June. As of June 30th, there was short interest totalling 64,500 shares, a growth of 80.7% from the May 30th total of 35,700 shares. Approximately 0.7% of the company’s stock are short sold. Based on an average daily volume of 21,100 shares, the days-to-cover ratio is currently 3.1 days.

In related news, EVP Anthony T. Powell sold 3,775 shares of Republic Bancorp, Inc. KY stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $49.00, for a total value of $184,975.00. Following the sale, the executive vice president now owns 14,617 shares of the company’s stock, valued at $716,233. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mark A. Vogt bought 3,500 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was bought at an average cost of $48.93 per share, for a total transaction of $171,255.00. Following the transaction, the director now owns 9,816 shares of the company’s stock, valued at approximately $480,296.88. The disclosure for this purchase can be found here. Company insiders own 52.00% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Arbitrage SA increased its position in Republic Bancorp, Inc. KY by 361.0% during the first quarter. BNP Paribas Arbitrage SA now owns 2,010 shares of the bank’s stock worth $90,000 after buying an additional 1,574 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its position in Republic Bancorp, Inc. KY by 345.7% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 3,026 shares of the bank’s stock worth $117,000 after buying an additional 2,347 shares during the last quarter. Citigroup Inc. increased its position in Republic Bancorp, Inc. KY by 17.3% during the fourth quarter. Citigroup Inc. now owns 3,105 shares of the bank’s stock worth $120,000 after buying an additional 458 shares during the last quarter. Legal & General Group Plc increased its position in Republic Bancorp, Inc. KY by 12.1% during the fourth quarter. Legal & General Group Plc now owns 3,779 shares of the bank’s stock worth $146,000 after buying an additional 408 shares during the last quarter. Finally, BB&T Corp acquired a new position in Republic Bancorp, Inc. KY during the first quarter worth approximately $224,000. 25.63% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:RBCAA traded up $1.38 during midday trading on Thursday, reaching $51.18. The company had a trading volume of 23,411 shares, compared to its average volume of 19,721. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.16 and a current ratio of 1.17. The company’s 50 day moving average is $47.88. The firm has a market capitalization of $1.08 billion, a PE ratio of 13.84 and a beta of 0.61. Republic Bancorp, Inc. KY has a 1-year low of $35.17 and a 1-year high of $52.68.

Republic Bancorp, Inc. KY (NASDAQ:RBCAA) last released its earnings results on Wednesday, April 24th. The bank reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.05. The business had revenue of $99.72 million for the quarter. Republic Bancorp, Inc. KY had a return on equity of 11.35% and a net margin of 24.34%.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 19th. Shareholders of record on Friday, June 21st will be given a dividend of $0.264 per share. This represents a $1.06 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date is Thursday, June 20th.

Separately, BidaskClub raised Zillow Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 2nd.

About Republic Bancorp, Inc. KY

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

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