Community Trust Bancorp, Inc. (NASDAQ:CTBI – Get Free Report) announced a quarterly dividend on Wednesday, October 23rd, RTT News reports. Investors 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 annualized dividend and a dividend yield of 3.63%.
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 44 years. Community Trust Bancorp has a payout ratio of 40.6% meaning its dividend is sufficiently covered by earnings. 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 Up 1.2 %
NASDAQ CTBI opened at $51.85 on Wednesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a 50-day simple moving average of $49.05 and a 200 day simple moving average of $45.60. Community Trust Bancorp has a twelve month low of $36.00 and a twelve month high of $53.50. The stock has a market cap of $935.89 million, a PE ratio of 11.78 and a beta of 0.64.
Analysts Set New Price Targets
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 for the company in a research note on Friday, October 18th.
Get Our Latest Research Report on Community Trust Bancorp
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.
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