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

Republic Bancorp, Inc. (NASDAQ:RBCAA) declared 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 2.63%. The ex-dividend date of this dividend 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% 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 28.8% meaning its dividend is sufficiently covered by earnings.

Republic Bancorp Stock Performance

Shares of RBCAA opened at $68.65 on Friday. The firm has a market cap of $1.34 billion, a PE ratio of 13.05 and a beta of 0.56. The company’s 50 day simple moving average is $72.44 and its 200-day simple moving average is $66.93. The company has a current ratio of 1.12, a quick ratio of 1.11 and a debt-to-equity ratio of 0.38. Republic Bancorp has a 12-month low of $46.55 and a 12-month high of $80.68.

Insider Buying and Selling

In related news, Director Heather V. Howell sold 1,496 shares of the stock in a transaction dated Thursday, November 21st. The shares were 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 directly owns 7,491 shares of the company’s stock, valued at $566,544.33. This represents a 16.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 55.50% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Hovde Group lowered Republic Bancorp from an “outperform” rating to a “market perform” rating and raised 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.