Community Trust Bancorp, Inc. (NASDAQ:CTBI) declared a quarterly dividend on Wednesday, July 29th, Zacks reports. Investors of record on Tuesday, September 15th will be paid 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 yield of 5.02%. The ex-dividend date of this dividend is Monday, September 14th. This is an increase from Community Trust Bancorp’s previous quarterly dividend of $0.38.
Community Trust Bancorp has increased its dividend payment by an average of 17.5% per year over the last three years and has increased its dividend annually for the last 39 consecutive years. Community Trust Bancorp has a payout ratio of 74.5% indicating that its dividend is sufficiently covered by earnings. Equities 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%.
NASDAQ:CTBI traded down $0.80 during mid-day trading on Friday, hitting $30.67. 45 shares of the stock traded hands, compared to its average volume of 42,062. The stock has a market capitalization of $554.38 million, a price-to-earnings ratio of 9.49 and a beta of 0.79. Community Trust Bancorp has a 52 week low of $26.45 and a 52 week high of $47.54. The firm’s 50 day moving average is $31.62 and its two-hundred day moving average is $35.28. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.10.
Several equities analysts recently commented on the stock. Zacks Investment Research downgraded shares of Community Trust Bancorp from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 23rd. ValuEngine downgraded shares of Community Trust Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, June 23rd. Finally, BidaskClub cut shares of Community Trust Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, June 3rd.
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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