Republic Bancorp, Inc. (NASDAQ:RBCAA) to Issue Quarterly Dividend of $0.45

Republic Bancorp, Inc. (NASDAQ:RBCAA) announced 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 2.66%. This is an increase from Republic Bancorp’s previous quarterly dividend of $0.41.

Republic Bancorp has raised its dividend by an average of 9.7% per year 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% meaning its dividend is sufficiently covered by earnings.

Republic Bancorp Price Performance

Shares of Republic Bancorp stock traded down $1.23 during trading on Wednesday, reaching $67.91. 24,925 shares of the company’s stock were exchanged, compared to its average volume of 21,233. The firm’s 50-day moving average price is $72.61 and its 200 day moving average price is $66.92. The company has a market cap of $1.32 billion, a P/E ratio of 12.91 and a beta of 0.56. Republic Bancorp has a 1-year low of $46.55 and a 1-year high of $80.68. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.11 and a current ratio of 1.12.

Insider Transactions at Republic Bancorp

In other news, Director Heather V. Howell sold 1,496 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $75.63, for a total transaction of $113,142.48. Following the completion of the transaction, the director now owns 7,491 shares in the company, valued at $566,544.33. This trade represents a 16.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 56.60% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Hovde Group cut shares of Republic Bancorp from an “outperform” rating to a “market perform” rating and boosted 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.