Community Trust Bancorp, Inc. (NASDAQ:CTBI) Announces $0.46 Quarterly Dividend

Community Trust Bancorp, Inc. (NASDAQ:CTBI) announced a quarterly dividend on Tuesday, April 23rd, Zacks reports. Stockholders of record on Saturday, June 15th will be paid a dividend of 0.46 per share by the financial services provider on Monday, July 1st. This represents a $1.84 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date of this dividend is Friday, June 14th.

Community Trust Bancorp has increased its dividend by an average of 5.6% per year over the last three years and has increased its dividend annually for the last 43 consecutive years. Community Trust Bancorp has a dividend payout ratio of 42.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Community Trust Bancorp to earn $4.34 per share next year, which means the company should continue to be able to cover its $1.84 annual dividend with an expected future payout ratio of 42.4%.

Community Trust Bancorp Stock Performance

Community Trust Bancorp stock traded down $0.64 during midday trading on Thursday, reaching $42.70. 3,237 shares of the company traded hands, compared to its average volume of 47,289. Community Trust Bancorp has a 12 month low of $32.68 and a 12 month high of $45.74. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.87 and a quick ratio of 0.87. The business has a 50 day moving average of $40.64 and a two-hundred day moving average of $40.50. The firm has a market capitalization of $769.45 million, a price-to-earnings ratio of 10.06 and a beta of 0.68.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CTBI. Janney Montgomery Scott initiated coverage on shares of Community Trust Bancorp in a research note on Wednesday, March 27th. They set a “buy” rating and a $49.00 target price for the company. Piper Sandler started coverage on Community Trust Bancorp in a report on Friday, February 16th. They issued an “overweight” rating and a $47.00 price objective for the company.

Insider Transactions at Community Trust Bancorp

In other Community Trust Bancorp news, Director Franky Minnifield purchased 2,000 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were acquired at an average cost of $39.28 per share, with a total value of $78,560.00. Following the completion of the acquisition, the director now directly owns 14,401 shares in the company, valued at $565,671.28. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have acquired 3,368 shares of company stock worth $134,424 in the last quarter. Company insiders own 4.30% of the company’s stock.

Community Trust Bancorp Company Profile

Community Trust Bancorp, Inc operates as the bank holding company for Community Trust Bank, Inc that engages in the provision of commercial and personal banking, and trust and wealth management services to small and mid-sized communities in eastern, northeastern, central, and south-central Kentucky, as well as southern West Virginia, and northeastern Tennessee.