Community Trust Bancorp, Inc. (CTBI) To Go Ex-Dividend on June 14th

Community Trust Bancorp, Inc. (NASDAQ:CTBI) announced a quarterly dividend on Tuesday, April 23rd, Zacks reports. Stockholders of record on Saturday, June 15th will be given a dividend of 0.46 per share by the financial services provider on Monday, July 1st. This represents a $1.84 annualized dividend and a dividend yield of 4.31%. The ex-dividend date of this dividend is Friday, June 14th.

Community Trust Bancorp has increased its dividend by an average of 5.6% annually over the last three years and has increased its dividend annually for the last 43 consecutive years. Community Trust Bancorp has a dividend payout ratio of 42.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Community Trust Bancorp to earn $4.34 per share next year, which means the company should continue to be able to cover its $1.84 annual dividend with an expected future payout ratio of 42.4%.

Community Trust Bancorp Stock Performance

Community Trust Bancorp stock traded down $0.64 during mid-day trading on Thursday, hitting $42.70. 3,237 shares of the company’s stock traded hands, compared to its average volume of 47,289. The firm has a 50 day simple moving average of $40.64 and a two-hundred day simple moving average of $40.50. Community Trust Bancorp has a fifty-two week low of $32.68 and a fifty-two week high of $45.74. The stock has a market cap of $769.45 million, a price-to-earnings ratio of 10.06 and a beta of 0.68. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.87 and a quick ratio of 0.87.

Insiders Place Their Bets

In other news, Director Franky Minnifield acquired 2,000 shares of the stock in a transaction on Friday, March 15th. The shares were purchased at an average price of $39.28 per share, for a total transaction of $78,560.00. Following the transaction, the director now directly owns 14,401 shares of the company’s stock, valued at $565,671.28. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have bought 3,368 shares of company stock worth $134,424 in the last 90 days. Company insiders own 4.30% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Janney Montgomery Scott assumed coverage on Community Trust Bancorp in a report on Wednesday, March 27th. They set a “buy” rating and a $49.00 price target for the company. Piper Sandler assumed coverage on Community Trust Bancorp in a report on Friday, February 16th. They set an “overweight” rating and a $47.00 price target for the company.

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.