Michael Rust, a director of Republic Bancorp Inc /KY/ (NASDAQ:RBCAA), has sold a portion of his company shares, according to a recent filing with the Securities and Exchange Commission. The transaction involved the sale of 1,400 shares of Class A Common Stock for a total value of approximately $66,398.
The shares were sold on March 14, 2024, at a weighted average price of $47.4276. The sale was executed in multiple lots, with prices ranging from $47.3388 to $47.6248. Following the transaction, Rust's remaining ownership in the company stands at 20,771.5 shares. This updated share count includes additional dividend equivalent rights acquired since his last reported ownership stake.
The sale represents a routine transaction by a company insider and is disclosed publicly through SEC filings. Republic Bancorp Inc, headquartered in Louisville, Kentucky, operates in the state commercial banks sector. Investors and market watchers often monitor such insider transactions for insights into the perspectives of company executives and directors regarding their holdings in the firm.
Republic Bancorp Inc's stock is traded on the NASDAQ under the ticker symbol RBCAA. The company has not made any further comments regarding the transaction.
InvestingPro Insights
Following the recent insider sale at Republic Bancorp Inc /KY/ (NASDAQ:RBCAA), a deeper dive into the company's financials using InvestingPro tools reveals some noteworthy points. Republic Bancorp has demonstrated a commitment to its shareholders through a consistent dividend policy, having raised its dividend for 10 consecutive years and maintained payments for 27 consecutive years. This is a strong indicator of the company's dedication to returning value to its investors and a positive sign for those looking for steady income streams.
InvestingPro Data shows that Republic Bancorp currently has a market capitalization of $926.68 million and is trading at a P/E ratio of 10.45, which has been adjusted to 10.21 based on the last twelve months as of Q4 2023. The company's revenue growth over this period was 8.64%, indicating a healthy increase in its top-line performance. However, it is important to note that the company's PEG ratio stands at 24.06, which suggests that the stock may be trading at a high price relative to near-term earnings growth expectations.
For those seeking further insights and additional InvestingPro Tips, there are more detailed analyses available. For example, analysts predict that Republic Bancorp will be profitable this year, and the company has been profitable over the last twelve months. This information, along with more tips, can be accessed through InvestingPro's comprehensive suite of tools at https://www.investing.com/pro/RBCAA. Subscribers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. With an array of 5 additional InvestingPro Tips to explore, investors can gain a better understanding of Republic Bancorp's financial health and future prospects.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.