Republic Bancorp, Inc. (RBCAA) to Issue Quarterly Dividend of $0.41 on January 17th

Republic Bancorp, Inc. (NASDAQ:RBCAA) declared a quarterly dividend on Wednesday, November 20th,Wall Street Journal reports. Stockholders of record on Friday, December 20th will be given a dividend of 0.407 per share by the bank on Friday, January 17th. This represents a $1.63 annualized dividend and a dividend yield of 2.10%. The ex-dividend date is Friday, December 20th.

Republic Bancorp has increased its dividend by an average of 9.4% per year over the last three years and has raised its dividend annually for the last 26 consecutive years. Republic Bancorp has a payout ratio of 29.2% meaning its dividend is sufficiently covered by earnings.

Republic Bancorp Trading Up 2.1 %

Shares of RBCAA stock traded up $1.61 on Friday, hitting $77.62. The stock had a trading volume of 13,444 shares, compared to its average volume of 17,554. The company’s 50 day moving average price is $68.27 and its 200-day moving average price is $60.68. Republic Bancorp has a 1 year low of $46.55 and a 1 year high of $79.75. The firm has a market capitalization of $1.51 billion, a P/E ratio of 14.48 and a beta of 0.51. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.12 and a quick ratio of 1.11.

Republic Bancorp (NASDAQ:RBCAA) last announced its earnings results on Friday, October 18th. The bank reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.16. Republic Bancorp had a net margin of 20.65% and a return on equity of 10.79%. The firm had revenue of $118.36 million for the quarter.

Insider Activity at Republic Bancorp

In other news, EVP Juan Montano sold 2,750 shares of Republic Bancorp stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $63.37, for a total transaction of $174,267.50. Following the completion of the sale, the executive vice president now directly owns 8,558 shares in the company, valued at approximately $542,320.46. This trade represents a 24.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christy Ames sold 1,715 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $63.72, for a total value of $109,279.80. Following the sale, the executive vice president now directly owns 4,240 shares in the company, valued at $270,172.80. This trade represents a 28.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,715 shares of company stock worth $299,172 over the last 90 days. Company insiders own 55.50% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Hovde Group lowered Republic Bancorp from an “outperform” rating to a “market perform” rating and increased their target price for the company from $78.00 to $80.00 in a report on Wednesday, November 13th.

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.