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

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 dividend on an annualized basis and a yield of 2.38%. 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

NASDAQ:RBCAA traded up $0.05 during midday trading on Friday, reaching $75.68. The stock had a trading volume of 55,973 shares, compared to its average volume of 29,486. Republic Bancorp has a 1-year low of $54.88 and a 1-year high of $80.68. The firm's fifty day simple moving average is $72.00 and its 200-day simple moving average is $68.08. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.10 and a quick ratio of 1.09. The stock has a market capitalization of $1.48 billion, a P/E ratio of 11.86 and a beta of 0.52.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Hovde Group raised their price objective 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. Raymond James Financial assumed coverage on shares of Republic Bancorp in a report on Friday, June 27th. They set a "market perform" rating for the company.

Insider Transactions at Republic Bancorp

In related news, EVP Christy Ames sold 700 shares of Republic Bancorp stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $70.50, for a total transaction of $49,350.00. Following the completion of the transaction, the executive vice president directly owned 5,044 shares of the company's stock, valued at $355,602. This trade represents a 12.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 56.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Republic Bancorp

A number of institutional investors have recently modified their holdings of the stock. Jane Street Group LLC bought a new position in shares of Republic Bancorp in the first quarter worth about $716,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Republic Bancorp by 5.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,945 shares of the bank's stock worth $316,000 after acquiring an additional 234 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Republic Bancorp by 199.8% in the first quarter. AQR Capital Management LLC now owns 11,649 shares of the bank's stock worth $743,000 after acquiring an additional 7,764 shares during the last quarter. 24.37% of the stock is owned by institutional investors.

Republic Bancorp Company Profile

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.