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

Republic Bancorp, Inc. (NASDAQ:RBCAA) announced a quarterly dividend on Thursday, November 21st,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 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 raised 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 Trading Up 1.6 %

RBCAA traded up $1.23 during trading on Thursday, hitting $76.07. 9,259 shares of the company’s stock were exchanged, compared to its average volume of 17,541. The company has a current ratio of 1.12, a quick ratio of 1.11 and a debt-to-equity ratio of 0.38. Republic Bancorp has a 1 year low of $46.55 and a 1 year high of $79.75. The stock has a 50 day moving average price of $68.00 and a 200 day moving average price of $60.57. The firm has a market cap of $1.48 billion, a P/E ratio of 14.23 and a beta of 0.51.

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

Insider Activity

In other Republic Bancorp news, EVP Christy Ames sold 1,715 shares of the firm’s stock in a transaction dated 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 directly owns 4,240 shares in the company, valued at $270,172.80. This trade represents a 28.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Juan Montano sold 2,750 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was 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 owns 8,558 shares of the company’s stock, valued at approximately $542,320.46. The trade was a 24.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,715 shares of company stock worth $299,172. Corporate insiders own 55.50% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Hovde Group lowered shares of 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.

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.