Community Trust Bancorp, Inc. (NASDAQ:CTBI) Plans $0.53 Quarterly Dividend

Community Trust Bancorp, Inc. (NASDAQ:CTBI) announced a quarterly dividend of $0.53 per share, payable on January 2nd to stockholders of record on December 15th. This represents an annualized dividend yield of 4.1%. The company has a payout ratio of 34.9%, indicating earnings sufficiently cover the dividend. Despite a recent stock price decline of 2.5%, analysts expect the company to earn $5.35 per share next year, maintaining a healthy dividend coverage. Community Trust Bancorp operates in commercial and personal banking across Kentucky and West Virginia.

Community Trust Bancorp, Inc. (NASDAQ:CTBI - Get Free Report) announced a quarterly dividend on Wednesday, October 29th. Investors of record on Monday, December 15th will be given a dividend of 0.53 per share by the financial services provider on Friday, January 2nd. This represents a c) dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Monday, December 15th.

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Community Trust Bancorp has a payout ratio of 34.9% 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 Down 2.5%

Shares of NASDAQ:CTBI traded down $1.30 during midday trading on Wednesday, reaching $51.19. The company had a trading volume of 157,651 shares, compared to its average volume of 59,884. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.08. The business's 50 day moving average price is $55.87 and its 200 day moving average price is $53.62. The stock has a market cap of $927.05 million, a PE ratio of 9.90 and a beta of 0.57. Community Trust Bancorp has a 1-year low of $44.60 and a 1-year high of $61.67.

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Community Trust Bancorp (NASDAQ:CTBI - Get Free Report) last released its earnings results on Wednesday, October 15th. The financial services provider reported $1.32 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.38 by ($0.06). The company had revenue of $71.50 million during the quarter, compared to analyst estimates of $71.85 million. Community Trust Bancorp had a net margin of 23.24% and a return on equity of 11.91%. Research analysts forecast that Community Trust Bancorp will post 5.06 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Andy D. Waters sold 918 shares of Community Trust Bancorp stock in a transaction on Monday, August 18th. The shares were sold at an average price of $56.18, for a total transaction of $51,573.24. Following the completion of the transaction, the executive vice president owned 632 shares of the company's stock, valued at $35,505.76. This trade represents a 59.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Community Trust Bancorp

Large investors have recently bought and sold shares of the stock. ProShare Advisors LLC acquired a new position in shares of Community Trust Bancorp during the second quarter valued at about $6,378,000. Nuveen LLC acquired a new position in shares of Community Trust Bancorp during the first quarter valued at about $5,210,000. Community Trust & Investment Co. grew its holdings in shares of Community Trust Bancorp by 3.0% during the second quarter. Community Trust & Investment Co. now owns 1,979,076 shares of the financial services provider's stock valued at $104,733,000 after buying an additional 58,142 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Community Trust Bancorp by 116.4% during the first quarter. Millennium Management LLC now owns 100,651 shares of the financial services provider's stock valued at $5,069,000 after buying an additional 54,130 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its holdings in shares of Community Trust Bancorp by 237.5% during the first quarter. Adage Capital Partners GP L.L.C. now owns 67,499 shares of the financial services provider's stock valued at $3,399,000 after buying an additional 47,499 shares during the last quarter. 60.20% of the stock is currently owned by institutional investors and hedge funds.

About Community Trust Bancorp

(Get Free Report)

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.

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