Community Trust Bancorp, Inc. (NASDAQ:CTBI) Announces $0.47 Quarterly Dividend

Community Trust Bancorp, Inc. (NASDAQ:CTBI) declared a quarterly dividend on Thursday, January 30th,Wall Street Journal reports. Stockholders of record on Saturday, March 15th will be paid a dividend of 0.47 per share by the financial services provider on Tuesday, April 1st. This represents a $1.88 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend is Friday, March 14th.

Community Trust Bancorp has increased its dividend payment by an average of 5.8% per year over the last three years. Community Trust Bancorp has a dividend payout ratio of 35.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Community Trust Bancorp to earn $5.35 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 35.1%.

Community Trust Bancorp Trading Down 0.8 %

Community Trust Bancorp stock traded down $0.44 during trading on Thursday, reaching $53.68. 56,907 shares of the company were exchanged, compared to its average volume of 73,475. The stock’s 50 day simple moving average is $55.26 and its two-hundred day simple moving average is $52.11. The company has a market capitalization of $969.46 million, a P/E ratio of 11.64 and a beta of 0.67. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.90 and a quick ratio of 0.90. Community Trust Bancorp has a 52-week low of $38.44 and a 52-week high of $61.67.

Community Trust Bancorp (NASDAQ:CTBI) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.25 EPS for the quarter, topping the consensus estimate of $1.20 by $0.05. Community Trust Bancorp had a return on equity of 11.36% and a net margin of 22.02%. During the same quarter last year, the firm posted $1.04 EPS. On average, equities research analysts expect that Community Trust Bancorp will post 5.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CTBI. Piper Sandler reissued an “overweight” rating and issued a $64.00 price target on shares of Community Trust Bancorp in a research note on Friday, November 8th. Raymond James raised Community Trust Bancorp from a “market perform” rating to an “outperform” rating and set a $60.00 price target on the stock in a research note on Friday, October 18th.

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.