Community Trust Bancorp, Inc. (NASDAQ:CTBI) to Issue Quarterly Dividend of $0.65

Community Trust Bancorp, Inc. (NASDAQ:CTBI) announced a quarterly dividend on Sunday, July 19th. Investors of record on Tuesday, September 15th will be paid a dividend of 0.65 per share by the financial services provider on Thursday, October 1st. This represents a c) annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Tuesday, September 15th. This is a 22.6% increase from Community Trust Bancorp’s previous quarterly dividend of $0.53.

Community Trust Bancorp has increased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 44 years. Community Trust Bancorp has a payout ratio of 48.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Community Trust Bancorp to earn $6.50 per share next year, which means the company should continue to be able to cover its $2.60 annual dividend with an expected future payout ratio of 40.0%.

Community Trust Bancorp Price Performance

NASDAQ CTBI traded up $0.30 during trading hours on Friday, reaching $77.67. The company’s stock had a trading volume of 84,981 shares, compared to its average volume of 90,048. Community Trust Bancorp has a 1 year low of $50.25 and a 1 year high of $79.92. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 13.01 and a beta of 0.52. The firm’s 50-day moving average price is $76.38 and its 200-day moving average price is $68.93.

Community Trust Bancorp (NASDAQ:CTBI) last announced its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.12. Community Trust Bancorp had a net margin of 25.55% and a return on equity of 12.52%. The business had revenue of $78.49 million during the quarter, compared to analyst estimates of $76.85 million. On average, equities research analysts predict that Community Trust Bancorp will post 6.41 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on CTBI shares. Weiss Ratings raised shares of Community Trust Bancorp from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Thursday, August 13th. Piper Sandler increased their price objective on shares of Community Trust Bancorp from $76.00 to $81.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Raymond James Financial began coverage on Community Trust Bancorp in a research report on Tuesday, September 1st. They set an “outperform” rating and a $82.00 price objective for the company. Finally, Zacks Research cut Community Trust Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.50.

Community Trust Bancorp Company Profile

Community Trust Bancorp, Inc is a bank holding company headquartered in Pikeville, Kentucky. Through its principal subsidiary, Community Trust Bank, the company provides banking and financial services to individuals, businesses, governmental entities and nonprofit organizations.

Its offerings include checking and savings accounts, certificates of deposit, consumer and commercial loans, residential mortgages, credit cards, online and mobile banking, treasury management and other deposit services.