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

Community Trust Bancorp, Inc. (NASDAQ:CTBI) declared 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 annualized dividend and a yield of 4.25%. The ex-dividend date is Friday, June 14th.

Community Trust Bancorp has raised its dividend payment by an average of 5.6% annually over the last three years and has raised its dividend every year for the last 43 years. Community Trust Bancorp has a dividend payout ratio of 42.5% meaning 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 Price Performance

Shares of NASDAQ CTBI opened at $43.34 on Thursday. The stock has a market capitalization of $780.99 million, a PE ratio of 10.06 and a beta of 0.68. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.87 and a quick ratio of 0.87. The business has a fifty day moving average price of $40.64 and a two-hundred day moving average price of $40.50. Community Trust Bancorp has a fifty-two week low of $32.68 and a fifty-two week high of $45.74.

Insider Transactions at Community Trust Bancorp

In other Community Trust Bancorp news, Director Franky Minnifield purchased 2,000 shares of the stock in a transaction dated Friday, March 15th. The stock was bought at an average price of $39.28 per share, with a total value of $78,560.00. Following the acquisition, the director now owns 14,401 shares of the company’s stock, valued at $565,671.28. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders acquired 3,368 shares of company stock valued at $134,424. Corporate insiders own 4.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CTBI shares. Piper Sandler started coverage on Community Trust Bancorp in a report on Friday, February 16th. They issued an “overweight” rating and a $47.00 price objective for the company. Janney Montgomery Scott initiated coverage on Community Trust Bancorp in a report on Wednesday, March 27th. They issued a “buy” rating and a $49.00 price objective 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.