Intel stock spikes after report of possible US government stake
Heather Howell, a director at Republic Bancorp Inc. (NASDAQ:RBCAA), recently sold 1,496 shares of Class A Common Stock. The shares were sold at a price of $75.63 each, totaling approximately $113,142. Following this transaction, Howell holds 7,490.535 shares directly. The sale comes amid a strong performance period for Republic Bancorp, with the stock up over 32% in the past six months. The $1.36 billion market cap company currently trades at a P/E ratio of 13.6. This adjustment in her holdings reflects additional dividend equivalent rights acquired since her last ownership report. The transaction was disclosed in a filing with the Securities and Exchange Commission. According to InvestingPro analysis, Republic Bancorp has maintained dividend payments for 27 consecutive years, with a current yield of 2.3%. The stock currently appears undervalued based on InvestingPro's Fair Value calculations, with additional insights available to subscribers.
In other recent news, Republic Bancorp, Inc. has announced a series of significant developments. The company has reported an increase in core earnings for the third quarter of 2024, reflecting its financial growth. Concurrently, a new stock repurchase program has been initiated, demonstrating the company's confidence in its financial health and future prospects. The specifics of this program, however, remain undisclosed.
Republic Bancorp has also declared a cash dividend for its shareholders, set to be paid in early 2025. The dividend will amount to $0.407 per share on Class A Common Stock and $0.37 per share on Class B Common Stock. In addition to these financial developments, the company's Compensation Committee has approved a substantial cash bonus for William Nelson, President of the Republic Processing Group, in recognition of his contributions to the company's gross operating profit.
These recent developments indicate a strong performance by Republic Bancorp and its commitment to shareholder value. However, the company has not provided any specifics regarding the timeline or details of the stock repurchase program.
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