Community Trust Bancorp, Inc. (NASDAQ:CTBI) to Issue $0.53 Quarterly Dividend

Community Trust Bancorp, Inc. (NASDAQ:CTBI) announced a quarterly dividend on Tuesday, January 27th. Investors of record on Sunday, March 15th will be given a dividend of 0.53 per share by the financial services provider on Wednesday, April 1st. This represents a c) dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Friday, March 13th.

Community Trust Bancorp has raised its dividend payment by an average of 0.0%per year 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 39.3% meaning its dividend is sufficiently covered by earnings. Equities 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 $2.12 annual dividend with an expected future payout ratio of 39.6%.

Community Trust Bancorp Stock Down 2.0%

NASDAQ:CTBI traded down $1.22 during trading hours on Wednesday, hitting $60.14. The company’s stock had a trading volume of 62,661 shares, compared to its average volume of 77,053. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. Community Trust Bancorp has a 52-week low of $44.60 and a 52-week high of $65.48. The stock has a fifty day moving average of $58.15 and a 200-day moving average of $56.22. The stock has a market capitalization of $1.09 billion, a P/E ratio of 11.08 and a beta of 0.58.

Community Trust Bancorp (NASDAQ:CTBI) last posted its earnings results on Wednesday, January 21st. The financial services provider reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.08. The firm had revenue of $74.72 million for the quarter, compared to the consensus estimate of $73.15 million. Community Trust Bancorp had a net margin of 23.95% and a return on equity of 12.14%. On average, equities analysts forecast that Community Trust Bancorp will post 5.06 earnings per share for the current year.

Analysts Set New Price Targets

CTBI has been the topic of several analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Community Trust Bancorp in a report on Monday, December 29th. Raymond James Financial set a $61.00 target price on shares of Community Trust Bancorp in a report on Wednesday, October 15th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $63.50.

Community Trust Bancorp Company Profile

Community Trust Bancorp, Inc is a bank holding company headquartered in Pikeville, Kentucky. As the parent of Community Trust Bank, the company provides a comprehensive range of banking services to individuals, families and businesses throughout eastern Kentucky, southern West Virginia and northeast Tennessee. With origins dating back to the early 20th century, the organization has built a reputation for supporting community development and regional economic growth across the Appalachian region.

The company’s personal banking offerings include checking and savings accounts, consumer installment loans, home equity and mortgage lending, as well as online and mobile banking platforms.