Republic Bancorp (NASDAQ:RBCAA) Hits New 12-Month High Following Dividend Announcement

Republic Bancorp, Inc. (NASDAQ:RBCAA)’s stock price reached a new 52-week high during trading on Wednesday following a dividend announcement from the company. The stock traded as high as $78.44 and last traded at $78.4250, with a volume of 26204 shares. The stock had previously closed at $77.55.

The newly announced dividend which will be paid on Friday, July 17th. Shareholders of record on Thursday, June 18th will be given a $0.495 dividend. This represents a $1.98 annualized dividend and a yield of 2.5%. The ex-dividend date is Thursday, June 18th. Republic Bancorp’s dividend payout ratio is currently 30.56%.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Wall Street Zen upgraded Republic Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Weiss Ratings restated a “buy (b)” rating on shares of Republic Bancorp in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Republic Bancorp currently has a consensus rating of “Moderate Buy”.

Republic Bancorp Trading Up 0.0%

The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 0.32. The company has a 50-day simple moving average of $73.17 and a 200 day simple moving average of $71.23. The firm has a market cap of $1.56 billion, a PE ratio of 12.27 and a beta of 0.57.

Republic Bancorp (NASDAQ:RBCAA) last released its quarterly earnings data on Thursday, April 23rd. The bank reported $2.04 EPS for the quarter, topping the consensus estimate of $1.41 by $0.63. The business had revenue of $114.57 million for the quarter, compared to analyst estimates of $96.60 million. Republic Bancorp had a return on equity of 11.32% and a net margin of 25.22%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in RBCAA. First Trust Advisors LP raised its stake in shares of Republic Bancorp by 651.0% during the 2nd quarter. First Trust Advisors LP now owns 78,077 shares of the bank’s stock worth $5,708,000 after buying an additional 67,681 shares during the period. Millennium Management LLC raised its stake in shares of 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. American Century Companies Inc. raised its stake in shares of Republic Bancorp by 11.0% during the 3rd quarter. American Century Companies Inc. now owns 265,298 shares of the bank’s stock worth $19,168,000 after buying an additional 26,319 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in shares of Republic Bancorp during the 3rd quarter worth approximately $1,600,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of Republic Bancorp by 41.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 60,225 shares of the bank’s stock worth $4,155,000 after buying an additional 17,709 shares during the period. 24.37% of the stock is owned by institutional investors and hedge funds.

Republic Bancorp Company Profile

Republic Bancorp, Inc is a bank holding company headquartered in Louisville, Kentucky, that operates through its principal subsidiary, Republic Bank & Trust Company. The company provides a full suite of commercial and retail banking services tailored to individuals, small businesses and middle‐market clients. Core offerings include deposit accounts, consumer and commercial lending, treasury and cash-management services, mortgage financing, SBA lending and wealth management solutions. Republic Bancorp also supports specialized financing needs through equipment leasing and small business advisory services.

Republic Bancorp’s branch network spans key markets in the U.S.