Republic Bancorp, Inc. (RBCAA) to Issue Quarterly Dividend of $0.45 on April 18th

Republic Bancorp, Inc. (NASDAQ:RBCAA) declared a quarterly dividend on Wednesday, January 22nd,RTT News reports. Investors 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 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date is Friday, March 21st. This is a boost from Republic Bancorp’s previous quarterly dividend of $0.41.

Republic Bancorp has raised its dividend payment 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 payout ratio of 28.8% indicating that its dividend is sufficiently covered by earnings.

Republic Bancorp Stock Performance

Shares of RBCAA stock opened at $68.65 on Friday. Republic Bancorp has a 52 week low of $46.55 and a 52 week high of $80.68. The firm has a 50 day moving average of $72.44 and a two-hundred day moving average of $66.93. 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 $1.34 billion, a PE ratio of 13.05 and a beta of 0.56.

Insider Buying and Selling

In other Republic Bancorp news, Director Heather V. Howell sold 1,496 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $75.63, for a total transaction of $113,142.48. Following the sale, the director now owns 7,491 shares of the company’s stock, valued at approximately $566,544.33. This trade represents a 16.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 55.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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