Community Trust Bancorp, Inc. (NASDAQ:CTBI) declared a quarterly dividend on Wednesday, July 29th, Zacks reports. Stockholders of record on Tuesday, September 15th will be paid a dividend of 0.385 per share by the financial services provider on Thursday, October 1st. This represents a $1.54 annualized dividend and a dividend yield of 5.01%. The ex-dividend date is Monday, September 14th. This is a boost from Community Trust Bancorp’s previous quarterly dividend of $0.38.
Community Trust Bancorp has raised its dividend by an average of 17.5% per year over the last three years and has raised its dividend annually for the last 39 consecutive years. Community Trust Bancorp has a dividend payout ratio of 74.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Community Trust Bancorp to earn $2.69 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 56.5%.
NASDAQ:CTBI traded down $0.71 during mid-day trading on Friday, hitting $30.76. The company had a trading volume of 40 shares, compared to its average volume of 42,062. Community Trust Bancorp has a fifty-two week low of $26.45 and a fifty-two week high of $47.54. The business’s fifty day moving average is $31.62 and its two-hundred day moving average is $35.28. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market cap of $554.38 million, a P/E ratio of 9.71 and a beta of 0.79.
Community Trust Bancorp (NASDAQ:CTBI) last released its earnings results on Wednesday, July 15th. The financial services provider reported $1.11 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.73. Community Trust Bancorp had a return on equity of 9.41% and a net margin of 24.73%. The firm had revenue of $51.34 million for the quarter, compared to analyst estimates of $48.55 million. Equities analysts forecast that Community Trust Bancorp will post 3.11 earnings per share for the current year.
Several brokerages have issued reports on CTBI. Zacks Investment Research downgraded Community Trust Bancorp from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 23rd. BidaskClub downgraded Community Trust Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, June 3rd. Finally, ValuEngine downgraded Community Trust Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, June 23rd.
About Community Trust Bancorp
Community Trust Bancorp, Inc operates as the bank holding company for Community Trust Bank, Inc that provides commercial and personal banking services to small and mid-sized communities. The company accepts time and demand deposits, Keogh plans, and savings certificates, as well as checking and savings, regular, individual retirement, NOW, and money market accounts.
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