Republic Bancorp, Inc. (NASDAQ:RBCAA) to Issue Dividend Increase – $0.45 Per Share

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 given a dividend of 0.451 per share by the bank on Friday, April 18th. This represents a $1.80 annualized dividend and a yield of 2.79%. The ex-dividend date is Friday, March 21st. This is a 10.8% increase from Republic Bancorp’s previous quarterly dividend of $0.41.

Republic Bancorp has increased its dividend by an average of 9.7% per year over the last three years and has raised its dividend annually for the last 27 consecutive years. Republic Bancorp has a payout ratio of 33.0% indicating that its dividend is sufficiently covered by earnings.

Republic Bancorp Trading Down 0.7 %

Shares of Republic Bancorp stock opened at $64.60 on Wednesday. Republic Bancorp has a 12-month low of $46.55 and a 12-month high of $80.68. 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 stock has a market cap of $1.26 billion, a PE ratio of 12.35 and a beta of 0.46. The company has a 50-day moving average of $66.47 and a two-hundred day moving average of $68.49.

Republic Bancorp (NASDAQ:RBCAA) last issued its earnings results on Friday, January 24th. The bank reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.22). Republic Bancorp had a net margin of 20.05% and a return on equity of 10.60%.

Wall Street Analysts Forecast Growth

Separately, Hovde Group decreased their target price on shares of Republic Bancorp from $72.00 to $70.00 and set a “market perform” rating on the stock in a research report on Monday, January 27th.

Insider Buying and Selling at Republic Bancorp

In other news, EVP John T. Rippy sold 3,082 shares of the firm’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $65.99, for a total value of $203,381.18. Following the transaction, the executive vice president now owns 23,105 shares of the company’s stock, valued at approximately $1,524,698.95. This trade represents a 11.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David P. Feaster sold 1,406 shares of Republic Bancorp stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $66.42, for a total transaction of $93,386.52. Following the sale, the director now directly owns 4,303 shares in the company, valued at $285,805.26. This trade represents a 24.63 % decrease in their position. The disclosure for this sale can be found here. 55.50% of the stock is owned by company insiders.

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.