In a recent transaction, Steven E. DeWeese, the EVP and Managing Director of Commercial and Private Banking at Republic Bancorp Inc /KY/ (NASDAQ:RBCAA), sold 1,115 shares of the company’s Class A Common Stock. The transaction took place on July 24, 2024, with the shares being sold at a price of $66.0 each, resulting in a total value of $73,590.
DeWeese, who is an officer of the bank but not a director or ten percent owner, completed the sale as part of a planned divestiture. Following the sale, it was reported that DeWeese still holds a significant number of shares in the company. Specifically, DeWeese has direct ownership of 31,663.657 shares of Republic Bancorp’s Class A Common Stock, which now includes additional dividend equivalent rights acquired since his last ownership report. Additionally, he has an indirect ownership through a 401(k) Plan of 9,461 shares.
The sale is part of the normal course of actions taken by corporate executives, who may sell shares for a variety of personal or financial reasons. It’s important for investors to note that transactions of this nature are routine and are required to be disclosed to the Securities and Exchange Commission. These disclosures provide transparency into the trading activities of senior executives and allow shareholders to stay informed about the financial dealings of the company’s insiders.
Republic Bancorp Inc /KY/, based in Louisville, Kentucky, operates within the state commercial banks sector and is known for providing a range of banking services. The company’s stock is publicly traded, and its performance is an area of interest for investors and market watchers alike.
As of the date of the transaction, the company has not issued any statements regarding the sale, and it remains a routine disclosure of stock transactions by a company executive. Investors who follow the company will continue to monitor such filings to stay updated on insider trading activity.
In other recent news, Republic Bancorp, Inc. and Republic Bank & Trust Company have announced the addition of two new members to their Boards, Yoania “Jo” Cannon and Alejandro “Alex” Sanchez. This move is part of the company’s ongoing efforts to enhance its governance and strategic planning. Cannon, currently serving as Vice President at Brown-Forman Corporation, is expected to bring a strong background in brand strategy and finance to Republic’s Boards.
On the other hand, Sanchez’s rich history in banking, business, and legal affairs, including his experience as the former President and CEO of Salva Financial Group of Florida and the Florida Bankers Association, is anticipated to contribute significantly to the Boards’ expertise. Both Cannon and Sanchez have expressed their commitment to leveraging their experience for the benefit of the company and the communities it serves.
These recent developments reflect Republic Bancorp’s commitment to strengthening its governance structure and strategic planning capabilities. As of the last report, the company held approximately $6.9 billion in assets. The information in this article is based on a press release statement from Republic Bancorp, Inc.
InvestingPro Insights
Amidst the routine disclosure of stock transactions by Republic Bancorp Inc /KY/ (NASDAQ:RBCAA) executive Steven E. DeWeese, the company’s financial health and market performance provide a broader context for investors. With a market capitalization of $1.32 billion and a solid price-to-earnings (P/E) ratio of 13.76, Republic Bancorp stands as a noteworthy player in the banking sector. The company’s commitment to shareholder returns is evident, as it boasts a high shareholder yield and has consistently raised its dividend for 10 consecutive years, underscoring a robust track record of financial stewardship.
InvestingPro Tips highlight the company’s significant return over the last week, with a 10.05% price total return, and a strong return over the last month, at 33.62%. These figures suggest a bullish trend in the stock’s recent performance, which may interest potential investors. Additionally, Republic Bancorp’s dividend yield stands at 2.41%, with a commendable dividend growth of 8.82% over the last twelve months as of Q2 2024, reflecting the company’s ability to increase shareholder value through dividends.
For investors seeking a deeper analysis of Republic Bancorp’s financials and future outlook, more InvestingPro Tips are available, including insights on profitability and analyst predictions. With the use of coupon code PRONEWS24, investors can get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription, providing access to valuable investment tools and data. Discover additional tips and metrics on Republic Bancorp Inc /KY/ by visiting https://www.investing.com/pro/RBCAA, where 12 more InvestingPro Tips await. These tips could offer further guidance for informed investment decisions.
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