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

Community Trust Bancorp, Inc. (NASDAQ:CTBI) declared a quarterly dividend on Thursday, January 30th,Wall Street Journal reports. Shareholders of record on Saturday, March 15th will be given a dividend of 0.47 per share by the financial services provider on Tuesday, April 1st. This represents a $1.88 annualized dividend and a yield of 3.50%. The ex-dividend date is Friday, March 14th.

Community Trust Bancorp has raised its dividend payment by an average of 5.8% per year over the last three years. Community Trust Bancorp has a dividend payout ratio of 35.1% indicating that 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 $1.88 annual dividend with an expected future payout ratio of 35.1%.

Community Trust Bancorp Stock Performance

Shares of NASDAQ CTBI opened at $53.72 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.09. The firm’s 50-day moving average price is $55.17 and its 200-day moving average price is $52.12. Community Trust Bancorp has a 52-week low of $38.44 and a 52-week high of $61.67. The company has a market cap of $970.18 million, a PE ratio of 11.65 and a beta of 0.67.

Community Trust Bancorp (NASDAQ:CTBI) last issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.05. Community Trust Bancorp had a net margin of 22.02% and a return on equity of 11.36%. During the same quarter in the prior year, the business earned $1.04 EPS. As a group, analysts anticipate that Community Trust Bancorp will post 5.06 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on CTBI shares. Raymond James upgraded Community Trust Bancorp from a “market perform” rating to an “outperform” rating and set a $60.00 price objective for the company in a research report on Friday, October 18th. Piper Sandler restated an “overweight” rating and set a $64.00 price target on shares of Community Trust Bancorp in a research note on Friday, November 8th.

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.