Michael T. Rust Sells 1,400 Shares of Republic Bancorp, Inc. (NASDAQ:RBCAA) Stock

Republic Bancorp, Inc. (NASDAQ:RBCAAGet Free Report) Director Michael T. Rust sold 1,400 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $47.43, for a total transaction of $66,402.00. Following the completion of the transaction, the director now owns 20,772 shares in the company, valued at $985,215.96. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Republic Bancorp Price Performance

Shares of Republic Bancorp stock opened at $47.53 on Wednesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.06 and a current ratio of 1.07. The firm’s 50-day simple moving average is $50.15 and its 200-day simple moving average is $48.29. Republic Bancorp, Inc. has a twelve month low of $37.23 and a twelve month high of $57.54. The firm has a market cap of $921.13 million, a P/E ratio of 10.33 and a beta of 0.56.

Republic Bancorp (NASDAQ:RBCAAGet Free Report) last issued its earnings results on Friday, January 26th. The bank reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.28. Republic Bancorp had a net margin of 21.16% and a return on equity of 10.39%. The business had revenue of $105.57 million for the quarter.

Republic Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 19th. Shareholders of record on Friday, March 15th will be paid a $0.407 dividend. The ex-dividend date is Thursday, March 14th. This is an increase from Republic Bancorp’s previous quarterly dividend of $0.37. This represents a $1.63 dividend on an annualized basis and a dividend yield of 3.43%. Republic Bancorp’s payout ratio is currently 35.43%.

Analyst Ratings Changes

Separately, Hovde Group assumed coverage on shares of Republic Bancorp in a research report on Monday, March 4th. They issued an “outperform” rating on the stock.

Read Our Latest Stock Report on RBCAA

Institutional Investors Weigh In On Republic Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of RBCAA. Ensign Peak Advisors Inc bought a new stake in Republic Bancorp in the third quarter valued at approximately $29,000. Citigroup Inc. increased its position in shares of Republic Bancorp by 59.3% during the first quarter. Citigroup Inc. now owns 688 shares of the bank’s stock worth $29,000 after acquiring an additional 256 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Republic Bancorp by 150.5% in the third quarter. Tower Research Capital LLC TRC now owns 922 shares of the bank’s stock valued at $36,000 after purchasing an additional 554 shares in the last quarter. Qube Research & Technologies Ltd bought a new position in Republic Bancorp in the third quarter valued at $49,000. Finally, Barclays PLC grew its position in Republic Bancorp by 389.9% in the fourth quarter. Barclays PLC now owns 2,337 shares of the bank’s stock valued at $95,000 after purchasing an additional 1,860 shares in the last quarter. 23.69% of the stock is owned by institutional investors.

About Republic Bancorp

(Get Free Report)

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.

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