Republic Bancorp, Inc. to Issue Quarterly Dividend of $0.41 (NASDAQ:RBCAA)

Republic Bancorp, Inc. (NASDAQ:RBCAA) declared a quarterly dividend on Thursday, November 21st,Wall Street Journal reports. Investors 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 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date is Friday, December 20th.

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

Republic Bancorp Price Performance

NASDAQ RBCAA traded up $1.23 on Thursday, reaching $76.07. The company had a trading volume of 9,259 shares, compared to its average volume of 17,541. The company has a quick ratio of 1.11, a current ratio of 1.12 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $1.48 billion, a PE ratio of 14.23 and a beta of 0.51. The firm’s 50 day moving average price is $68.00 and its 200 day moving average price is $60.57. Republic Bancorp has a 12 month low of $46.55 and a 12 month high of $79.75.

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

Analyst Ratings Changes

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

Insider Buying and Selling

In other news, EVP Christy Ames sold 1,715 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $63.72, for a total value of $109,279.80. Following the completion of the transaction, the executive vice president now owns 4,240 shares of the company’s stock, valued at $270,172.80. The trade was a 28.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Juan Montano sold 2,750 shares of the business’s 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 transaction, the executive vice president now directly owns 8,558 shares of the company’s stock, valued at approximately $542,320.46. This represents a 24.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,715 shares of company stock worth $299,172 in the last ninety days. 55.50% of the stock is owned by corporate 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.