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. Investors 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 annualized dividend and a yield of 4.33%. The ex-dividend date of this dividend is Friday, June 14th.

Community Trust Bancorp has raised its dividend payment by an average of 5.6% per year over the last three years and has raised 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. Equities research 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 Down 1.9 %

Community Trust Bancorp stock traded down $0.83 during mid-day trading on Thursday, hitting $42.51. The company had a trading volume of 1,986 shares, compared to its average volume of 47,276. The stock has a market cap of $766.03 million, a price-to-earnings ratio of 10.06 and a beta of 0.68. Community Trust Bancorp has a 1 year low of $32.68 and a 1 year high of $45.74. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.10. The business has a fifty day moving average of $40.64 and a 200 day moving average of $40.50.

Insider Transactions at Community Trust Bancorp

In other Community Trust Bancorp news, Director Franky Minnifield bought 2,000 shares of Community Trust Bancorp stock in a transaction dated Friday, March 15th. The stock was bought at an average cost of $39.28 per share, for a total transaction of $78,560.00. Following the purchase, the director now owns 14,401 shares in the company, valued at approximately $565,671.28. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last quarter, insiders bought 3,368 shares of company stock worth $134,424. 4.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

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.