Republic Bancorp, Inc. (NASDAQ:RBCAA) Plans $0.45 Quarterly Dividend

Republic Bancorp, Inc. (NASDAQ:RBCAA - Get Free Report) declared a quarterly dividend on Wednesday, July 16th, RTT News reports. Investors of record on Friday, September 19th will be given a dividend of 0.451 per share by the bank on Friday, October 17th. This represents a $1.80 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend is Friday, September 19th.

Republic Bancorp has a payout ratio of 30.2% indicating that its dividend is sufficiently covered by earnings.

Republic Bancorp Stock Performance

Shares of RBCAA stock traded down $0.30 on Friday, hitting $75.34. The company's stock had a trading volume of 13,836 shares, compared to its average volume of 39,192. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.09 and a current ratio of 1.10. The stock's 50 day moving average is $71.91 and its 200-day moving average is $68.04. Republic Bancorp has a fifty-two week low of $54.88 and a fifty-two week high of $80.68. The company has a market capitalization of $1.47 billion, a PE ratio of 12.41 and a beta of 0.52.

Republic Bancorp (NASDAQ:RBCAA - Get Free Report) last announced its quarterly earnings data on Friday, July 18th. The bank reported $1.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.42 by $0.19. The firm had revenue of $93.00 million for the quarter, compared to the consensus estimate of $93.50 million. Republic Bancorp had a net margin of 22.94% and a return on equity of 11.92%.

Wall Street Analysts Forecast Growth

RBCAA has been the subject of a number of research reports. Raymond James Financial initiated coverage on shares of Republic Bancorp in a report on Friday, June 27th. They issued a "market perform" rating for the company. Hovde Group increased their target price on shares of Republic Bancorp from $64.00 to $69.00 and gave the stock a "market perform" rating in a report on Friday, April 25th.

Insider Transactions at Republic Bancorp

In related news, EVP Christy Ames sold 700 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $70.50, for a total value of $49,350.00. Following the completion of the transaction, the executive vice president owned 5,044 shares in the company, valued at $355,602. This trade represents a 12.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 56.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RBCAA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Republic Bancorp by 5.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,945 shares of the bank's stock worth $316,000 after purchasing an additional 234 shares during the last quarter. Jane Street Group LLC acquired a new stake in Republic Bancorp in the 1st quarter valued at $716,000. Finally, AQR Capital Management LLC grew its position in Republic Bancorp by 199.8% in the 1st quarter. AQR Capital Management LLC now owns 11,649 shares of the bank's stock valued at $743,000 after purchasing an additional 7,764 shares during the period. Institutional investors own 24.37% 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.