Community Trust Bancorp, Inc. (NASDAQ:CTBI) to Issue Quarterly Dividend of $0.65

Key Points

• Community Trust Bancorp declared a quarterly dividend of $0.65 per share, payable January 4 to shareholders of record December 15. The annualized dividend is $2.60 per share, yielding approximately 3.7%.
• The company has raised its dividend for 44 consecutive years, with a current earnings payout ratio of 48.2%; analysts expect the dividend to remain well covered by projected earnings.
• Community Trust Bancorp’s latest quarterly earnings missed expectations, reporting $1.43 in EPS versus a $1.65 estimate, while revenue came in at $79.7 million compared with the $80.2 million consensus forecast.

Community Trust Bancorp, Inc. (NASDAQ:CTBI - Get Free Report) declared a quarterly dividend on Tuesday, October 27th. Stockholders of record on Tuesday, December 15th will be given a dividend of $0.65 per share by the financial services provider on Monday, January 4th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Tuesday, December 15th.

Community Trust Bancorp has increased its dividend by an average of 0.1% per year over the last three years and has increased its dividend annually for the last 44 consecutive years. Community Trust Bancorp has a payout ratio of 48.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Community Trust Bancorp to earn $6.48 per share next year, which means the company should continue to be able to cover its $2.60 annual dividend with an expected future payout ratio of 40.1%.

Community Trust Bancorp Stock Down 0.9%

CTBI stock opened at $69.43 on Thursday. The stock has a market capitalization of $1.26 billion, a P/E ratio of 11.42 and a beta of 0.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.94 and a current ratio of 0.94. Community Trust Bancorp has a one year low of $50.25 and a one year high of $79.92. The company has a 50 day moving average price of $75.12 and a two-hundred day moving average price of $68.80.

Community Trust Bancorp (NASDAQ:CTBI - Get Free Report) last issued its quarterly earnings results on Wednesday, October 21st. The financial services provider reported $1.43 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.22). Community Trust Bancorp had a net margin of 25.48% and a return on equity of 12.60%. The business had revenue of $79.70 million during the quarter, compared to analyst estimates of $80.20 million. As a group, sell-side analysts expect that Community Trust Bancorp will post 6.19 EPS for the current year.

Insider Buying and Selling

In other news, Director Franky Minnifield sold 3,900 shares of Community Trust Bancorp stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $78.85, for a total value of $307,515.00. Following the completion of the transaction, the director directly owned 8,320 shares of the company's stock, valued at approximately $656,032. The trade was a 31.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Community Trust Bancorp

Large investors have recently modified their holdings of the company. Integrated Wealth Concepts LLC bought a new position in Community Trust Bancorp during the second quarter valued at about $37,000. Quantbot Technologies LP acquired a new stake in shares of Community Trust Bancorp in the second quarter worth about $40,000. USA Financial Formulas acquired a new position in shares of Community Trust Bancorp during the 3rd quarter valued at about $71,000. Nisa Investment Advisors LLC lifted its holdings in Community Trust Bancorp by 36.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,359 shares of the financial services provider's stock worth $102,000 after purchasing an additional 362 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its position in Community Trust Bancorp by 8.5% during the third quarter. Farther Finance Advisors LLC now owns 1,819 shares of the financial services provider's stock worth $135,000 after purchasing an additional 142 shares during the period. Institutional investors and hedge funds own 60.20% of the company's stock.

Community Trust Bancorp Company Profile

Community Trust Bancorp, Inc is a bank holding company headquartered in Pikeville, Kentucky. Through its principal subsidiary, Community Trust Bank, the company provides banking and financial services to individuals, businesses and organizations.

Its products and services include checking and savings accounts, certificates of deposit, consumer and mortgage loans, commercial lending, agricultural financing and other credit products. Community Trust also offers trust and wealth-management services, investment products, insurance and digital banking tools.

Community Trust Bank traces its history to 1903 and has developed a regional banking network serving communities primarily throughout eastern and central Kentucky, as well as portions of southern West Virginia.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.