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

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 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 payment by an average of 9.4% per year 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 Stock Up 1.8 %

NASDAQ RBCAA opened at $76.19 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.11 and a debt-to-equity ratio of 0.38. The company has a market cap of $1.48 billion, a price-to-earnings ratio of 14.48 and a beta of 0.51. The company has a 50 day moving average of $68.27 and a 200-day moving average of $60.68. Republic Bancorp has a 1-year low of $46.55 and a 1-year high of $79.75.

Republic Bancorp (NASDAQ:RBCAA) last released its earnings results on Friday, October 18th. The bank reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate 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%.

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, EVP Christy Ames sold 1,715 shares of the company’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 value of $109,279.80. Following the sale, the executive vice president now directly owns 4,240 shares in the company, valued at $270,172.80. This represents a 28.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Juan Montano sold 2,750 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $63.37, for a total transaction of $174,267.50. Following 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 4,715 shares of company stock valued at $299,172 over the last 90 days. 55.50% of the stock is owned by 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.