Republic Bancorp, Inc. (NASDAQ:RBCAA) Raises Dividend to $0.45 Per Share

Republic Bancorp, Inc. (NASDAQ:RBCAA) declared a quarterly dividend on Wednesday, January 22nd,RTT News reports. Shareholders of record on Friday, March 21st will be paid a dividend of 0.451 per share by the bank on Friday, April 18th. This represents a $1.80 annualized dividend and a yield of 2.66%. This is a positive change from Republic Bancorp’s previous quarterly dividend of $0.41.

Republic Bancorp has raised its dividend by an average of 9.7% annually over the last three years and has raised its dividend every year for the last 26 years. Republic Bancorp has a dividend payout ratio of 28.8% meaning its dividend is sufficiently covered by earnings.

Republic Bancorp Stock Performance

Shares of Republic Bancorp stock opened at $67.91 on Thursday. The company has a current ratio of 1.12, a quick ratio of 1.11 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $1.32 billion, a P/E ratio of 12.91 and a beta of 0.56. The business has a fifty day simple moving average of $72.61 and a two-hundred day simple moving average of $66.92. Republic Bancorp has a 12 month low of $46.55 and a 12 month high of $80.68.

Analyst Ratings Changes

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

Insider Transactions at Republic Bancorp

In other news, Director Heather V. Howell sold 1,496 shares of Republic Bancorp stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $75.63, for a total value of $113,142.48. Following the completion of the transaction, the director now owns 7,491 shares of the company’s stock, valued at $566,544.33. The trade was a 16.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 55.50% of the stock is owned by insiders.

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.