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

Republic Bancorp, Inc. (NASDAQ:RBCAA - Get Free Report) declared a quarterly dividend on Wednesday, May 21st, RTT News reports. Shareholders of record on Friday, June 20th will be paid a dividend of 0.451 per share by the bank on Friday, July 18th. This represents a $1.80 annualized dividend and a dividend yield of 2.57%. The ex-dividend date is Friday, June 20th.

Republic Bancorp has increased its dividend by an average of 9.7% per year over the last three years and has increased its dividend every year for the last 27 years. Republic Bancorp has a dividend payout ratio of 30.2% indicating that its dividend is sufficiently covered by earnings.

Republic Bancorp Trading Up 0.5%

Republic Bancorp stock traded up $0.32 during mid-day trading on Tuesday, hitting $70.19. The company's stock had a trading volume of 4,127 shares, compared to its average volume of 21,530. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.11 and a current ratio of 1.12. The company has a 50 day moving average of $66.74 and a 200-day moving average of $68.82. Republic Bancorp has a one year low of $48.67 and a one year high of $80.68. The stock has a market cap of $1.37 billion, a PE ratio of 13.42 and a beta of 0.51.

Republic Bancorp (NASDAQ:RBCAA - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The bank reported $2.42 EPS for the quarter, beating the consensus estimate of $1.86 by $0.56. The company had revenue of $135.84 million for the quarter, compared to analyst estimates of $126.90 million. Republic Bancorp had a net margin of 20.05% and a return on equity of 10.60%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of RBCAA. AQR Capital Management LLC boosted its holdings in Republic Bancorp by 199.8% during the 1st quarter. AQR Capital Management LLC now owns 11,649 shares of the bank's stock valued at $743,000 after acquiring an additional 7,764 shares during the period. Jane Street Group LLC purchased a new position in Republic Bancorp in the 1st quarter valued at approximately $716,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Republic Bancorp by 5.0% during 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 period. Hedge funds and other institutional investors own 24.37% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Hovde Group increased their price objective on shares of Republic Bancorp from $64.00 to $69.00 and gave the company a "market perform" rating in a report on Friday, April 25th.

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.