Community Trust Bancorp, Inc. (NASDAQ:CTBI) Declares $0.47 Quarterly Dividend

Community Trust Bancorp, Inc. (NASDAQ:CTBI) declared a quarterly dividend on Wednesday, October 23rd, RTT News reports. Shareholders of record on Sunday, December 15th will be given a dividend of 0.47 per share by the financial services provider on Thursday, January 2nd. This represents a $1.88 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date is Friday, December 13th.

Community Trust Bancorp has raised its dividend payment by an average of 5.6% per year 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 40.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Community Trust Bancorp to earn $4.83 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 38.9%.

Community Trust Bancorp Stock Performance

Shares of Community Trust Bancorp stock opened at $52.07 on Friday. Community Trust Bancorp has a 52 week low of $36.14 and a 52 week high of $53.50. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.09. The business has a 50 day moving average price of $49.28 and a 200-day moving average price of $45.69. The company has a market cap of $939.86 million, a PE ratio of 11.83 and a beta of 0.64.

Community Trust Bancorp (NASDAQ:CTBI) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.08. The business had revenue of $95.38 million during the quarter, compared to analyst estimates of $62.00 million. Community Trust Bancorp had a return on equity of 11.13% and a net margin of 21.64%. Equities analysts anticipate that Community Trust Bancorp will post 4.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Raymond James upgraded shares of Community Trust Bancorp from a “market perform” rating to an “outperform” rating and set a $60.00 price target on the stock in a report on Friday, October 18th.

Community Trust Bancorp Company Profile

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.