Republic Bancorp Inc. to Issue Quarterly Dividend of $0.21 (RBCAA)
Republic Bancorp Inc. (NASDAQ:RBCAA) declared a quarterly dividend on Thursday, November 17th. Stockholders of record on Friday, December 16th will be paid a dividend of 0.209 per share on Friday, January 20th. This represents a $0.84 annualized dividend and a dividend yield of 2.39%. The ex-dividend date is Wednesday, December 14th.
Republic Bancorp (NASDAQ:RBCAA) opened at 35.00 on Friday. The stock has a 50 day moving average of $31.72 and a 200 day moving average of $29.82. Republic Bancorp has a 52 week low of $23.00 and a 52 week high of $36.70. The stock has a market capitalization of $730.17 million, a P/E ratio of 16.93 and a beta of 0.58.
Republic Bancorp (NASDAQ:RBCAA) last posted its quarterly earnings results on Friday, October 21st. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.09. Republic Bancorp had a net margin of 19.72% and a return on equity of 7.33%. On average, equities research analysts predict that Republic Bancorp will post $2.20 earnings per share for the current fiscal year.
Separately, Zacks Investment Research raised shares of Republic Bancorp from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Wednesday.
A number of institutional investors have recently modified their holdings of the stock. BlackRock Fund Advisors raised its position in shares of Republic Bancorp by 8.7% in the third quarter. BlackRock Fund Advisors now owns 272,731 shares of the company’s stock valued at $8,476,000 after buying an additional 21,772 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Republic Bancorp by 5.5% in the second quarter. Vanguard Group Inc. now owns 407,383 shares of the company’s stock valued at $11,257,000 after buying an additional 21,198 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Republic Bancorp by 90.3% in the second quarter. Alliancebernstein L.P. now owns 35,460 shares of the company’s stock valued at $980,000 after buying an additional 16,830 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of Republic Bancorp by 3.9% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 402,436 shares of the company’s stock valued at $12,508,000 after buying an additional 15,267 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its position in shares of Republic Bancorp by 280.1% in the third quarter. Panagora Asset Management Inc. now owns 16,517 shares of the company’s stock valued at $513,000 after buying an additional 12,172 shares during the last quarter. 24.59% of the stock is currently owned by hedge funds and other institutional investors.
About Republic Bancorp
Republic Bancorp, Inc (Republic) is a financial holding company of Republic Bank & Trust Company (the Bank) and Republic Insurance Services, Inc (the Captive). The Bank is a Kentucky-based, state chartered non-member financial institution. The Captive is an insurance subsidiary of the Company. It operates in four segments: Traditional Banking, which provides traditional banking products primarily to customers; Warehouse Lending (Warehouse), which provides short-term, revolving credit facilities to mortgage bankers across the Nation; Mortgage Banking, which originates, sells and services long-term, single family, first lien residential real estate loans, and Republic Processing Group (RPG), which facilitates the receipt and payment of federal and state tax refund products.
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