Community Trust Bancorp, Inc. Announces Quarterly Dividend of $0.46 (NASDAQ:CTBI)

Community Trust Bancorp, Inc. (NASDAQ:CTBI - Get Free Report) announced a quarterly dividend on Tuesday, April 23rd, Zacks reports. Investors of record on Saturday, June 15th will be paid a dividend of 0.46 per share by the financial services provider on Monday, July 1st. This represents a $1.84 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date of this dividend is Friday, June 14th.

Community Trust Bancorp has increased its dividend by an average of 5.6% per year over the last three years and has raised 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 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

NASDAQ CTBI traded down $0.57 during trading hours on Thursday, reaching $42.77. The stock had a trading volume of 41,848 shares, compared to its average volume of 47,783. The stock has a fifty day moving average of $40.64 and a 200 day moving average of $40.50. The stock has a market cap of $770.72 million, a P/E ratio of 10.06 and a beta of 0.68. Community Trust Bancorp has a 52-week low of $32.68 and a 52-week high of $45.74. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.87 and a current ratio of 0.87.

Insider Buying and Selling at Community Trust Bancorp

In other Community Trust Bancorp news, Director Franky Minnifield bought 2,000 shares of Community Trust Bancorp stock in a transaction dated Friday, March 15th. The stock was acquired at an average cost of $39.28 per share, with a total value of $78,560.00. Following the purchase, the director now directly owns 14,401 shares in the company, valued at approximately $565,671.28. The acquisition was disclosed in a filing with the SEC, which is available at this link. Over the last ninety days, insiders purchased 3,368 shares of company stock valued at $134,424. 4.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of 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 issued 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 issued an "overweight" rating and a $47.00 price target for the company.

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.