Community Trust Bancorp, Inc. (CTBI) to Issue Quarterly Dividend of $0.39 on October 1st

Community Trust Bancorp, Inc. (NASDAQ:CTBI) announced a quarterly dividend on Wednesday, July 29th, Zacks reports. Stockholders of record on Tuesday, September 15th will be given a dividend of 0.385 per share by the financial services provider on Thursday, October 1st. This represents a $1.54 annualized dividend and a dividend yield of 5.02%. The ex-dividend date of this dividend is Monday, September 14th. This is a boost from Community Trust Bancorp’s previous quarterly dividend of $0.38.

Community Trust Bancorp has raised its dividend by an average of 17.5% annually over the last three years and has raised its dividend every year for the last 39 years. Community Trust Bancorp has a payout ratio of 74.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Community Trust Bancorp to earn $2.69 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 56.5%.

CTBI stock traded down $0.80 during trading on Friday, hitting $30.67. The company had a trading volume of 45 shares, compared to its average volume of 42,062. The stock has a market cap of $554.38 million, a price-to-earnings ratio of 9.49 and a beta of 0.79. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.10. The firm has a 50-day moving average price of $31.62 and a 200-day moving average price of $35.28. Community Trust Bancorp has a 12 month low of $26.45 and a 12 month high of $47.54.

Community Trust Bancorp (NASDAQ:CTBI) last released its earnings results on Wednesday, July 15th. The financial services provider reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.73. Community Trust Bancorp had a return on equity of 9.41% and a net margin of 24.73%. The company had revenue of $51.34 million during the quarter, compared to the consensus estimate of $48.55 million. Equities analysts expect that Community Trust Bancorp will post 3.11 EPS for the current year.

Several analysts have weighed in on CTBI shares. BidaskClub cut Community Trust Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, June 3rd. Zacks Investment Research downgraded shares of Community Trust Bancorp from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 23rd. Finally, ValuEngine cut shares of Community Trust Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, June 23rd.

About Community Trust Bancorp

Community Trust Bancorp, Inc operates as the bank holding company for Community Trust Bank, Inc that provides commercial and personal banking services to small and mid-sized communities. The company accepts time and demand deposits, Keogh plans, and savings certificates, as well as checking and savings, regular, individual retirement, NOW, and money market accounts.

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Dividend History for Community Trust Bancorp (NASDAQ:CTBI)

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