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

Community Trust Bancorp, Inc. (NASDAQ:CTBI) announced a quarterly dividend on Tuesday, April 23rd, Zacks reports. Shareholders 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 yield of 4.25%. 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 every year for the last 43 years. Community Trust Bancorp has a 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 Up 0.9 %

Shares of Community Trust Bancorp stock opened at $43.34 on Thursday. Community Trust Bancorp has a 12-month low of $32.68 and a 12-month high of $45.74. The stock has a market capitalization of $780.99 million, a P/E ratio of 10.06 and a beta of 0.68. The stock has a 50 day moving average price of $40.64 and a two-hundred day moving average price of $40.50. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.10.

Insider Activity at Community Trust Bancorp

In other news, Director Franky Minnifield bought 2,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was acquired at an average cost of $39.28 per share, for a total transaction of $78,560.00. Following the completion of the purchase, the director now owns 14,401 shares of the company’s stock, valued at approximately $565,671.28. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders bought 3,368 shares of company stock worth $134,424. 4.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Janney Montgomery Scott assumed coverage on Community Trust Bancorp in a report on Wednesday, March 27th. They set a “buy” rating and a $49.00 price target for the company. Piper Sandler assumed coverage on Community Trust Bancorp in a report on Friday, February 16th. They set an “overweight” rating and a $47.00 price target for the company.

About Community Trust Bancorp

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.