Community Trust Bancorp, Inc. (NASDAQ:CTBI) Increases Dividend to $0.65 Per Share

Community Trust Bancorp, Inc. (NASDAQ:CTBI) declared a quarterly dividend on Sunday, July 19th. Stockholders of record on Tuesday, September 15th will be paid a dividend of 0.65 per share by the financial services provider on Thursday, October 1st. This represents a c) annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Tuesday, September 15th. This is a 22.6% increase from Community Trust Bancorp’s previous quarterly dividend of $0.53.

Community Trust Bancorp has raised its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 44 consecutive years. Community Trust Bancorp has a dividend payout ratio of 48.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Community Trust Bancorp to earn $6.50 per share next year, which means the company should continue to be able to cover its $2.60 annual dividend with an expected future payout ratio of 40.0%.

Community Trust Bancorp Trading Up 0.4%

CTBI stock traded up $0.30 during trading on Friday, reaching $77.67. 84,981 shares of the stock were exchanged, compared to its average volume of 90,048. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of 13.01 and a beta of 0.52. The business has a 50 day moving average price of $76.38 and a 200-day moving average price of $68.93. Community Trust Bancorp has a 1 year low of $50.25 and a 1 year high of $79.92.

Community Trust Bancorp (NASDAQ:CTBI) last posted its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.12. The business had revenue of $78.49 million during the quarter, compared to analysts’ expectations of $76.85 million. Community Trust Bancorp had a net margin of 25.55% and a return on equity of 12.52%. On average, research analysts predict that Community Trust Bancorp will post 6.41 earnings per share for the current year.

Insider Activity at Community Trust Bancorp

In other news, Director Franky Minnifield sold 3,900 shares of Community Trust Bancorp stock in a transaction on Friday, August 14th. The stock was sold at an average price of $78.85, for a total value of $307,515.00. Following the completion of the sale, the director directly owned 8,320 shares of the company’s stock, valued at approximately $656,032. The trade was a 31.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Community Trust Bancorp

A number of large investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Community Trust Bancorp by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,122 shares of the financial services provider’s stock worth $459,000 after purchasing an additional 381 shares in the last quarter. Millennium Management LLC grew its holdings in Community Trust Bancorp by 116.4% during the 1st 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. Jane Street Group LLC increased its position in Community Trust Bancorp by 158.5% during the first quarter. Jane Street Group LLC now owns 28,493 shares of the financial services provider’s stock worth $1,435,000 after buying an additional 17,470 shares in the last quarter. Strs Ohio acquired a new position in shares of Community Trust Bancorp in the first quarter worth $86,000. Finally, Rhumbline Advisers lifted its position in shares of Community Trust Bancorp by 4.5% in the second quarter. Rhumbline Advisers now owns 24,696 shares of the financial services provider’s stock valued at $1,307,000 after acquiring an additional 1,074 shares in the last quarter. 60.20% of the stock is owned by institutional investors and hedge funds.

Community Trust Bancorp Company Profile

Community Trust Bancorp, Inc is a bank holding company headquartered in Pikeville, Kentucky. Through its principal subsidiary, Community Trust Bank, the company provides banking and financial services to individuals, businesses, governmental entities and nonprofit organizations.

Its offerings include checking and savings accounts, certificates of deposit, consumer and commercial loans, residential mortgages, credit cards, online and mobile banking, treasury management and other deposit services.