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. 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 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date 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. 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

Shares of NASDAQ:CTBI traded down $0.83 during trading on Thursday, hitting $42.51. The stock had a trading volume of 1,986 shares, compared to its average volume of 47,276. 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 $766.03 million, a price-to-earnings ratio of 10.06 and a beta of 0.68. 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 stock has a 50-day simple moving average of $40.64 and a two-hundred day simple moving average of $40.50.

Analyst Ratings Changes

CTBI has been the topic of several research analyst reports. Janney Montgomery Scott began coverage on Community Trust Bancorp in a report on Wednesday, March 27th. They issued a “buy” rating and a $49.00 price objective on the stock. Piper Sandler began coverage on Community Trust Bancorp in a research note on Friday, February 16th. They issued an “overweight” rating and a $47.00 price target on the stock.

Insider Activity at Community Trust Bancorp

In related news, Director Franky Minnifield bought 2,000 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was purchased at an average cost of $39.28 per share, with a total value of $78,560.00. Following the purchase, the director now directly owns 14,401 shares of the company’s stock, valued at approximately $565,671.28. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have bought 3,368 shares of company stock worth $134,424. 4.30% of the stock is currently owned by company insiders.

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.