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

Republic Bancorp, Inc. (NASDAQ:RBCAA) announced a quarterly dividend on Wednesday, November 20th,Wall Street Journal reports. Shareholders 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% annually over the last three years and has raised its dividend annually for the last 26 consecutive years. Republic Bancorp has a dividend payout ratio of 29.2% meaning its dividend is sufficiently covered by earnings.

Republic Bancorp Trading Up 2.1 %

Shares of NASDAQ:RBCAA traded up $1.61 during trading on Friday, reaching $77.62. The stock had a trading volume of 13,444 shares, compared to its average volume of 17,554. 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 cap of $1.51 billion, a P/E ratio of 14.48 and a beta of 0.51. The business has a fifty day moving average price of $68.27 and a 200-day moving average price of $60.68. Republic Bancorp has a fifty-two week low of $46.55 and a fifty-two week high of $79.75.

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

Insider Activity at Republic Bancorp

In related news, EVP Juan Montano sold 2,750 shares of the firm’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 value of $174,267.50. Following the transaction, the executive vice president now owns 8,558 shares in the company, valued at approximately $542,320.46. This trade represents a 24.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, 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 transaction of $109,279.80. Following the sale, the executive vice president now owns 4,240 shares of the company’s stock, valued at approximately $270,172.80. This represents a 28.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,715 shares of company stock worth $299,172. 55.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, Hovde Group downgraded Republic Bancorp from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $78.00 to $80.00 in a research 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.