Republic Bancorp initiated with a Market Perform at Raymond James

Raymond James initiated coverage of Republic Bancorp (RBCAA) with a Market Perform rating and no price target The bank has been strategic in establishing itself as a commercially focused community bank headquartered in Louisville, Kentucky, serving business and retail customers, the analyst tells investors in a research note. The firm believes Republic is well positioned for incremental growth in the coming years, but sees near-term earnings growth headwinds coming from reduced income from its Tax Refund Solutions segment and modest net interest margin pressure. As such, Raymond James believes the risk/reward profile for the stock is balanced.