Republic Bancorp (NASDAQ:RBCAA) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Republic Bancorp (NASDAQ:RBCAAGet Rating) from a hold rating to a buy rating in a research note published on Tuesday, Zacks.com reports. Zacks Investment Research currently has $48.00 price objective on the bank’s stock.

According to Zacks, “Republic Bancorp, Inc. is a financial holding company. “

RBCAA has been the subject of several other research reports. Piper Sandler started coverage on shares of Republic Bancorp in a research note on Monday, March 14th. They issued an overweight rating and a $51.00 target price for the company. StockNews.com started coverage on shares of Republic Bancorp in a research note on Thursday, March 31st. They set a buy rating for the company.

Republic Bancorp stock opened at $43.66 on Tuesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.01 and a quick ratio of 1.00. The company has a market capitalization of $873.16 million, a price-to-earnings ratio of 9.95 and a beta of 0.64. Republic Bancorp has a one year low of $41.41 and a one year high of $57.62. The company’s fifty day moving average price is $44.29 and its two-hundred day moving average price is $48.74.

Republic Bancorp (NASDAQ:RBCAAGet Rating) last posted its earnings results on Thursday, April 21st. The bank reported $1.40 EPS for the quarter, topping the consensus estimate of $1.22 by $0.18. Republic Bancorp had a net margin of 29.43% and a return on equity of 9.49%. As a group, sell-side analysts anticipate that Republic Bancorp will post 3.79 earnings per share for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RBCAA. Citigroup Inc. grew its holdings in shares of Republic Bancorp by 95.8% in the 3rd quarter. Citigroup Inc. now owns 1,263 shares of the bank’s stock valued at $64,000 after buying an additional 618 shares during the period. Acadian Asset Management LLC bought a new stake in Republic Bancorp in the 4th quarter valued at $69,000. BNP Paribas Arbitrage SA lifted its position in Republic Bancorp by 81.4% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 2,611 shares of the bank’s stock valued at $132,000 after acquiring an additional 1,172 shares in the last quarter. Royal Bank of Canada lifted its position in Republic Bancorp by 7.6% in the 3rd quarter. Royal Bank of Canada now owns 3,444 shares of the bank’s stock valued at $175,000 after acquiring an additional 244 shares in the last quarter. Finally, PDT Partners LLC bought a new stake in Republic Bancorp in the 4th quarter valued at $203,000.

About Republic Bancorp (Get Rating)

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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