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

Community Trust Bancorp, Inc. (NASDAQ:CTBI - Get Free Report) announced a quarterly dividend on Thursday, January 30th,Wall Street Journal reports. Shareholders 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 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date is Friday, March 14th.

Community Trust Bancorp has increased its dividend by an average of 5.8% per year over the last three years. Community Trust Bancorp has a dividend payout ratio of 35.1% indicating that its dividend is sufficiently covered by earnings. 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 Trading Down 1.1 %

Shares of CTBI stock traded down $0.58 during mid-day trading on Monday, reaching $52.93. The company's stock had a trading volume of 87,834 shares, compared to its average volume of 76,030. The firm has a market capitalization of $955.92 million, a PE ratio of 11.48 and a beta of 0.67. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.09. Community Trust Bancorp has a 12-month low of $38.44 and a 12-month high of $61.67. The company's 50 day simple moving average is $54.90 and its 200-day simple moving average is $52.24.

Community Trust Bancorp (NASDAQ:CTBI - Get Free Report) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.25 EPS for the quarter, beating analysts' consensus estimates of $1.20 by $0.05. Community Trust Bancorp had a net margin of 22.02% and a return on equity of 11.36%. During the same quarter in the prior year, the business posted $1.04 EPS. On average, research analysts predict that Community Trust Bancorp will post 5.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CTBI has been the subject of several recent analyst reports. Raymond James raised 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. Piper Sandler reiterated an "overweight" rating and issued a $64.00 target price on shares of Community Trust Bancorp in a research report on Friday, November 8th.

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.