Community Trust Bancorp, Inc. (NASDAQ:CTBI) Increases Dividend to $0.47 Per Share

Community Trust Bancorp, Inc. (NASDAQ:CTBI) announced a quarterly dividend on Tuesday, July 23rd, Zacks reports. Investors of record on Sunday, September 15th will be given a dividend of 0.47 per share by the financial services provider on Tuesday, October 1st. This represents a $1.88 annualized dividend and a yield of 3.96%. The ex-dividend date is Friday, September 13th. This is an increase from Community Trust Bancorp’s previous quarterly dividend of $0.46.

Community Trust Bancorp has increased 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 44 years. Community Trust Bancorp has a payout ratio of 40.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Community Trust Bancorp to earn $4.60 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 40.9%.

Community Trust Bancorp Stock Down 1.1 %

Community Trust Bancorp stock opened at $47.52 on Thursday. The firm has a market cap of $856.60 million, a price-to-earnings ratio of 11.03 and a beta of 0.64. The business’s 50-day moving average price is $47.66 and its 200 day moving average price is $43.73. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.09. Community Trust Bancorp has a 52 week low of $33.48 and a 52 week high of $52.22.

Community Trust Bancorp (NASDAQ:CTBI) last issued its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.06. The company had revenue of $92.36 million for the quarter, compared to the consensus estimate of $58.65 million. Community Trust Bancorp had a return on equity of 11.14% and a net margin of 21.85%. As a group, sell-side analysts anticipate that Community Trust Bancorp will post 4.38 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP David Andrew Jones acquired 10,000 shares of Community Trust Bancorp stock in a transaction that occurred on Monday, July 22nd. The shares were purchased at an average price of $32.27 per share, for a total transaction of $322,700.00. Following the completion of the transaction, the executive vice president now owns 10,000 shares in the company, valued at approximately $322,700. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders have purchased 20,011 shares of company stock worth $645,881. 4.30% of the stock is owned by corporate insiders.

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.