Community Trust Bancorp, Inc. (NASDAQ:CTBI) declared a quarterly dividend on Monday, January 29th, Wall Street Journal reports. Shareholders of record on Thursday, March 15th will be paid a dividend of 0.33 per share by the financial services provider on Sunday, April 1st. This represents a $1.32 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date is Wednesday, March 14th.
Community Trust Bancorp has increased its dividend by an average of 1.6% per year over the last three years and has raised its dividend every year for the last 37 years. Community Trust Bancorp has a dividend payout ratio of 47.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Community Trust Bancorp to earn $3.35 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 39.4%.
Shares of Community Trust Bancorp (NASDAQ:CTBI) traded down $0.35 during trading hours on Monday, reaching $47.75. The company’s stock had a trading volume of 25,027 shares, compared to its average volume of 30,196. The company has a market cap of $851.03, a P/E ratio of 16.44 and a beta of 0.68. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.94 and a quick ratio of 0.94. Community Trust Bancorp has a 52-week low of $40.33 and a 52-week high of $51.90.
In other news, Director Chad C. Street purchased 4,000 shares of the business’s stock in a transaction dated Friday, December 22nd. The stock was bought at an average price of $48.79 per share, for a total transaction of $195,160.00. Following the purchase, the director now owns 5,000 shares of the company’s stock, valued at $243,950. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.80% of the stock is currently owned by corporate insiders.
Several research analysts have recently weighed in on CTBI shares. Zacks Investment Research upgraded Community Trust Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a research note on Monday, October 23rd. BidaskClub downgraded Community Trust Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $50.00.
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About Community Trust Bancorp
Community Trust Bancorp, Inc is a bank holding company. The Company holds interests in a commercial bank, Community Trust Bank, Inc (the Bank), and a trust company, Community Trust and Investment Company. Through its subsidiaries, the Company engages in a range of commercial and personal banking, and trust and wealth management activities, which include accepting time and demand deposits; making secured and unsecured loans to corporations, individuals and others; providing cash management services to corporate and individual customers; issuing letters of credit; renting safe deposit boxes, and providing funds transfer services.
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