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

Community Trust Bancorp, Inc. (NASDAQ:CTBI) announced a quarterly dividend on Wednesday, October 23rd, RTT News reports. Stockholders 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 increased 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 dividend 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 Performance

NASDAQ CTBI opened at $51.85 on Wednesday. The firm has a market cap of $935.89 million, a price-to-earnings ratio of 11.78 and a beta of 0.64. The company has a 50 day moving average of $49.05 and a 200-day moving average of $45.60. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09. Community Trust Bancorp has a 1-year low of $36.00 and a 1-year high of $53.50.

Community Trust Bancorp (NASDAQ:CTBI) last posted its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.08. The company had revenue of $95.38 million during the quarter, compared to analyst estimates of $62.00 million. Community Trust Bancorp had a net margin of 21.64% and a return on equity of 11.13%. On average, equities analysts forecast that Community Trust Bancorp will post 4.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Raymond James raised 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 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.