Republic Bancorp, Inc. Plans Quarterly Dividend of $0.37 (NASDAQ:RBCAA)

Republic Bancorp, Inc. (NASDAQ:RBCAA) announced a quarterly dividend on Wednesday, November 15th, Zacks reports. Stockholders of record on Friday, December 15th will be paid a dividend of 0.374 per share by the bank on Friday, January 19th. This represents a $1.50 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend is Thursday, December 14th.

Republic Bancorp has raised its dividend by an average of 8.9% annually over the last three years and has increased its dividend every year for the last 22 years. Republic Bancorp has a payout ratio of 38.6% meaning its dividend is sufficiently covered by earnings.

Republic Bancorp Stock Performance

NASDAQ:RBCAA opened at $47.03 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.08 and a debt-to-equity ratio of 0.52. The firm has a 50-day moving average price of $44.46 and a 200 day moving average price of $43.96. The firm has a market capitalization of $911.44 million, a PE ratio of 10.38 and a beta of 0.59. Republic Bancorp has a 12-month low of $37.23 and a 12-month high of $48.54.

Republic Bancorp (NASDAQ:RBCAA) last issued its earnings results on Friday, October 20th. The bank reported $1.10 earnings per share (EPS) for the quarter. The business had revenue of $78.84 million during the quarter. Republic Bancorp had a return on equity of 10.42% and a net margin of 22.23%.

Insider Activity

In related news, EVP Juan Montano sold 5,500 shares of the firm’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $46.38, for a total transaction of $255,090.00. Following the completion of the sale, the executive vice president now directly owns 10,821 shares of the company’s stock, valued at approximately $501,877.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 55.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Republic Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Citigroup Inc. grew its stake in shares of Republic Bancorp by 59.3% during the first quarter. Citigroup Inc. now owns 688 shares of the bank’s stock valued at $29,000 after purchasing an additional 256 shares during the last quarter. Ensign Peak Advisors Inc acquired a new position in Republic Bancorp during the 3rd quarter worth $29,000. Tower Research Capital LLC TRC boosted its position in Republic Bancorp by 150.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 922 shares of the bank’s stock valued at $36,000 after buying an additional 554 shares during the last quarter. Qube Research & Technologies Ltd acquired a new stake in shares of Republic Bancorp in the 3rd quarter valued at $49,000. Finally, Barclays PLC raised its position in shares of Republic Bancorp by 389.9% during the fourth quarter. Barclays PLC now owns 2,337 shares of the bank’s stock worth $95,000 after acquiring an additional 1,860 shares during the last quarter. Institutional investors and hedge funds own 23.69% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com began coverage on shares of Republic Bancorp in a report on Thursday, October 5th. They issued a “hold” rating on the stock.

About Republic Bancorp

Republic Bancorp, Inc, a financial holding company, provides various banking products and services in the United States. It operates in five segments: Traditional Banking, Warehouse, Mortgage Banking, Tax Refund Solutions, and Republic Credit Solutions. The company accepts demand, money market accounts, savings, individual retirement accounts, time, brokered, and other certificates of deposit.