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

Republic Bancorp, Inc. (NASDAQ:RBCAA) declared a quarterly dividend on Wednesday, May 21st, RTT News reports. Investors of record on Friday, June 20th will be given a dividend of 0.451 per share by the bank on Friday, July 18th. This represents a $1.80 dividend on an annualized basis and a yield of 2.53%.

Republic Bancorp has increased its dividend by an average of 9.7% annually over the last three years and has increased its dividend annually for the last 27 consecutive years. 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 opened at $71.34 on Thursday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.12 and a quick ratio of 1.11. Republic Bancorp has a 12-month low of $48.67 and a 12-month high of $80.68. The business has a 50 day simple moving average of $66.45 and a 200 day simple moving average of $68.92. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of 13.71 and a beta of 0.51.

Republic Bancorp (NASDAQ:RBCAA) last released its 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 firm had revenue of $135.84 million for the quarter, compared to analysts’ expectations of $126.90 million. Republic Bancorp had a net margin of 20.05% and a return on equity of 10.60%.

Analyst Upgrades and Downgrades

Separately, Hovde Group upped their price target on shares of Republic Bancorp from $64.00 to $69.00 and gave the company a “market perform” rating in a research report on Friday, April 25th.

Institutional Investors Weigh In On Republic Bancorp

A number of institutional investors have recently added to or reduced their stakes in RBCAA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in 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 valued at $316,000 after purchasing an additional 234 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of Republic Bancorp during the 1st quarter worth approximately $716,000. Finally, AQR Capital Management LLC lifted its stake in Republic Bancorp by 199.8% in the first 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 last quarter. 24.37% of the stock is owned by institutional investors and hedge funds.

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.