Community Trust Bancorp, Inc. (NASDAQ:CTBI) announced a quarterly dividend on Thursday, October 26th, Wall Street Journal reports. Stockholders of record on Friday, December 15th will be given a dividend of 0.33 per share by the financial services provider on Monday, January 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend is Thursday, December 14th.
Community Trust Bancorp has decreased its dividend payment by an average of 0.4% annually over the last three years and has raised its dividend every year for the last 36 years. Community Trust Bancorp has a payout ratio of 47.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Community Trust Bancorp to earn $3.03 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 43.6%.
Shares of Community Trust Bancorp (NASDAQ:CTBI) opened at $48.10 on Friday. Community Trust Bancorp has a 12 month low of $40.33 and a 12 month high of $51.90. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $851.02, a price-to-earnings ratio of 17.83 and a beta of 0.67.
CTBI has been the topic of a number of recent research reports. Zacks Investment Research upgraded Community Trust Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, September 21st. BidaskClub cut Community Trust Bancorp from a “sell” rating to a “strong sell” rating in a report on Friday, August 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $50.00.
In related news, Director Franky Minnifield sold 4,183 shares of Community Trust Bancorp stock in a transaction on Wednesday, October 25th. The stock was sold at an average price of $50.26, for a total value of $210,237.58. Following the transaction, the director now directly owns 5,075 shares in the company, valued at approximately $255,069.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Jean R. Hale sold 6,875 shares of Community Trust Bancorp stock in a transaction on Friday, October 20th. The stock was sold at an average price of $50.60, for a total value of $347,875.00. Following the completion of the transaction, the chairman now owns 126,397 shares in the company, valued at $6,395,688.20. The disclosure for this sale can be found here. Insiders sold a total of 11,774 shares of company stock worth $593,927 over the last 90 days. Insiders own 4.80% of the company’s stock.
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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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