Republic Bancorp, Inc. Announces 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 yield of 2.14%. The ex-dividend date of this dividend 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 increased its dividend every year for the last 26 years. Republic Bancorp has a payout ratio of 29.2% indicating that its dividend is sufficiently covered by earnings.

Republic Bancorp Trading Up 1.8 %

Shares of Republic Bancorp stock opened at $76.19 on Friday. The stock has a market capitalization of $1.48 billion, a PE ratio of 14.48 and a beta of 0.51. Republic Bancorp has a 52 week low of $46.55 and a 52 week high of $79.75. The stock has a 50 day moving average price of $68.27 and a two-hundred day moving average price of $60.68. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.11 and a current ratio of 1.12.

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

Insiders Place Their Bets

In related news, EVP Juan Montano sold 2,750 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $63.37, for a total transaction of $174,267.50. Following the transaction, the executive vice president now directly owns 8,558 shares of the company’s stock, valued at $542,320.46. This trade represents a 24.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Christy Ames sold 1,715 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $63.72, for a total transaction of $109,279.80. Following the transaction, the executive vice president now owns 4,240 shares in the company, valued at approximately $270,172.80. This trade represents a 28.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,715 shares of company stock valued at $299,172. Corporate insiders own 55.50% of the company’s stock.

Analyst Upgrades and Downgrades

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

Republic Bancorp Company Profile

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.