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

Republic Bancorp, Inc. (NASDAQ:RBCAA) announced a quarterly dividend on Wednesday, November 19th. Shareholders of record on Friday, December 19th will be paid a dividend of 0.451 per share by the bank on Friday, January 16th. This represents a c) dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Friday, December 19th.

Republic Bancorp has raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 27 years. Republic Bancorp has a dividend payout ratio of 30.2% meaning its dividend is sufficiently covered by earnings.

Republic Bancorp Price Performance

Shares of NASDAQ RBCAA traded up $0.61 during midday trading on Thursday, reaching $66.39. 206 shares of the company traded hands, compared to its average volume of 33,285. The stock’s 50-day simple moving average is $70.06 and its 200-day simple moving average is $71.59. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.07 and a current ratio of 1.08. Republic Bancorp has a 12 month low of $56.79 and a 12 month high of $80.68. The firm has a market cap of $1.30 billion, a PE ratio of 10.17 and a beta of 0.59.

Republic Bancorp (NASDAQ:RBCAA) last posted its quarterly earnings data on Friday, October 17th. The bank reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.14. The company had revenue of $93.54 million during the quarter, compared to analyst estimates of $92.50 million. Republic Bancorp had a net margin of 24.53% and a return on equity of 12.40%.

Insider Activity

In related news, EVP Juan Montano sold 1,223 shares of the stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $75.53, for a total transaction of $92,373.19. Following the completion of the transaction, the executive vice president owned 4,434 shares in the company, valued at approximately $334,900.02. This represents a 21.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Christy Ames sold 400 shares of the stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $75.79, for a total transaction of $30,316.00. Following the transaction, the executive vice president owned 4,738 shares of the company’s stock, valued at approximately $359,093.02. This represents a 7.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 56.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Quarry LP bought a new position in Republic Bancorp in the 3rd quarter valued at about $27,000. Qube Research & Technologies Ltd boosted its stake in Republic Bancorp by 20.7% in the 3rd quarter. Qube Research & Technologies Ltd now owns 24,718 shares of the bank’s stock valued at $1,786,000 after purchasing an additional 4,240 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in Republic Bancorp in the 3rd quarter valued at $1,600,000. Millennium Management LLC increased its position in Republic Bancorp by 172.3% during the 3rd quarter. Millennium Management LLC now owns 63,702 shares of the bank’s stock worth $4,602,000 after buying an additional 40,308 shares during the period. Finally, Citadel Advisors LLC acquired a new stake in shares of Republic Bancorp during the third quarter worth $232,000. 24.37% of the stock is owned by institutional investors and hedge funds.

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.