Republic Bancorp (NASDAQ:RBCAA) Sets New 52-Week High After Dividend Announcement

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

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Wall Street Zen raised Republic Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Weiss Ratings reissued a “buy (b)” rating on shares of Republic Bancorp in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

Republic Bancorp Price Performance

The stock has a 50 day moving average price of $73.17 and a two-hundred day moving average price of $71.23. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.05 and a current ratio of 1.06. The company has a market capitalization of $1.56 billion, a PE ratio of 12.31 and a beta of 0.57.

Republic Bancorp (NASDAQ:RBCAA) last posted its quarterly earnings results on Thursday, April 23rd. The bank reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.63. Republic Bancorp had a return on equity of 11.32% and a net margin of 25.22%.The company had revenue of $114.57 million during the quarter, compared to the consensus estimate of $96.60 million.

Institutional Investors Weigh In On Republic Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its stake in shares of Republic Bancorp by 7,500.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 15,200 shares of the bank’s stock worth $1,098,000 after purchasing an additional 15,000 shares in the last quarter. 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 purchasing an additional 26,319 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Republic Bancorp by 52.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 23,236 shares of the bank’s stock worth $1,679,000 after purchasing an additional 8,037 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in shares of Republic Bancorp during the 3rd quarter worth about $235,000. Finally, Denali Advisors LLC raised its stake in shares of Republic Bancorp by 6.6% during the 4th quarter. Denali Advisors LLC now owns 27,400 shares of the bank’s stock worth $1,890,000 after purchasing an additional 1,700 shares in the last quarter. 24.37% of the stock is owned by hedge funds and other institutional investors.

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.