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

Community Trust Bancorp, Inc. (NASDAQ:CTBI) announced a quarterly dividend on Thursday, January 30th,Wall Street Journal reports. Stockholders of record on Saturday, March 15th will be given a dividend of 0.47 per share by the financial services provider on Tuesday, April 1st. This represents a $1.88 annualized dividend and a dividend yield of 3.50%. The ex-dividend date is Friday, March 14th.

Community Trust Bancorp has raised its dividend by an average of 5.8% per year over the last three years. Community Trust Bancorp has a payout ratio of 35.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Community Trust Bancorp to earn $5.35 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 35.1%.

Community Trust Bancorp Stock Down 0.8 %

NASDAQ:CTBI traded down $0.44 during trading hours on Thursday, hitting $53.68. The company’s stock had a trading volume of 56,907 shares, compared to its average volume of 73,475. The stock has a market capitalization of $969.46 million, a P/E ratio of 11.64 and a beta of 0.67. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.09. The stock has a fifty day moving average of $55.26 and a 200-day moving average of $52.11. Community Trust Bancorp has a 52-week low of $38.44 and a 52-week high of $61.67.

Community Trust Bancorp (NASDAQ:CTBI) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.05. Community Trust Bancorp had a return on equity of 11.36% and a net margin of 22.02%. During the same quarter last year, the firm posted $1.04 EPS. On average, equities analysts forecast that Community Trust Bancorp will post 5.06 earnings per share for the current year.

Analyst Ratings Changes

CTBI has been the topic of a number of recent analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $64.00 target price on shares of Community Trust Bancorp in a research report on Friday, November 8th. Raymond James raised Community Trust Bancorp from a “market perform” rating to an “outperform” rating and set a $60.00 target price for the company in a report on Friday, October 18th.

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.