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

Republic Bancorp, Inc. (NASDAQ:RBCAA) announced a quarterly dividend on Wednesday, January 22nd,RTT News reports. Shareholders 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 a boost from Republic Bancorp’s previous quarterly dividend of $0.41.

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

Republic Bancorp Price Performance

NASDAQ RBCAA opened at $67.91 on Thursday. The company has a market cap of $1.32 billion, a PE ratio of 12.91 and a beta of 0.56. Republic Bancorp has a 52 week low of $46.55 and a 52 week high of $80.68. 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 firm’s 50-day simple moving average is $72.61 and its two-hundred day simple moving average is $66.92.

Wall Street Analysts Forecast Growth

Separately, Hovde Group downgraded shares of Republic Bancorp from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $78.00 to $80.00 in a report on Wednesday, November 13th.

Insider Transactions at Republic Bancorp

In other 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 value of $113,142.48. Following the transaction, the director now owns 7,491 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 55.50% of the company’s stock.

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.