RBCAAREPUBLIC BANCORP INC /KY/
State Commercial Banks
- Revenue
- $417M
- 8.5% YoY
- Operating margin
- —
- EBITDA
- —
- Market cap
- $1.8B
- Employees
- —
- Net debt / EBITDA
- —
- AI in 10-K
- 1.7
- mentions per 10K words
Takeover score 1 of 13
Fixable underperformance 0 of 7
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo128% of net incomeCash flow under 80% of net income
- Dilutive SBCNo1% of revenueOver 10% of revenue
- Payouts exceed cash flowNo20% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo1% of assetsOver 40% of assets
- Shareholder dissentNo93% lowest supportAny vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeNo—Bottom quartile of its SIC industry
- Quiet on AINo1.7 per 10K words · 49th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedYes$1.8B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo−$430K netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $309M | $327M | $360M | $385M | $417M | 8.5% |
| Net income | $88M | $91M | $90M | $101M | $131M | 30% |
| Operating cash flow | $100M | $155M | $109M | $149M | $168M | 13% |
| Capex | $6M | $4M | $7M | $6M | $7M | 22% |
| Stock-based comp | $2M | $2M | $1M | $1M | $2M | 61% |
| Buybacks | $48M | $13M | $20M | — | $72K | |
| Dividends | $25M | $26M | $28M | $31M | $34M | 11% |
Deal filings
None.
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|---|---|---|---|
| Feb 14, 2024 | TRAGER SCOTT | SC 13D/A | 53.1% | Passive |
| Feb 14, 2024 | TEEBANK FAMILY LTD PARTNERSHIP | SC 13D/A | 47.0% | Passive |
| Feb 14, 2024 | GILMAN SHELDON G | SC 13D/A | 51.7% | Passive |
| Feb 14, 2024 | TRAGER STEVE | SC 13D/A | 54.0% | Passive |
| Feb 14, 2024 | Trager Trust of 2012 | SC 13D/A | 51.4% | Passive |
| Feb 15, 2022 | TRAGER STEVE | SC 13D/A | 52.4% | Passive |
| Feb 15, 2022 | Trager Trust of 2012 | SC 13D | 49.8% | Passive |
| Feb 15, 2022 | Trager Jean S | SC 13D/A | 2.2% | Passive |
| Feb 14, 2022 | TRAGER SCOTT | SC 13D/A | 51.4% | Passive |
| Feb 16, 2021 | GILMAN SHELDON G | SC 13D | 48.0% | Passive |
Insider trading
- Open-market buys, 12 mo
- $10K · 1
- Open-market sells, 12 mo
- $440K · 6
- Net
- −$430K
Pay vs performance
No pay-versus-performance disclosure yet.