Bancorp Community Trust, Inc. (NASDAQ: CTBI) announced a dividend on Friday, October 29, loyalty reports. Shareholders of record on Wednesday December 15 will receive a dividend of 0.40 per share from the financial services provider on Monday January 3. The ex-dividend date for this dividend is Tuesday, December 14.

Community Trust Bancorp has increased its dividend by 17.7% over the past three years and has increased its dividend each year for the past 41 years. Community Trust Bancorp has a payout ratio of 44.0%, which means its dividend is sufficiently covered by profits. Equity research analysts expect Community Trust Bancorp to earn $ 3.63 per share next year, which means the company should continue to be able to cover its annual dividend of 1.60 $ with an expected future payout rate of 44.1%.

Shares of CTBI opened at $ 43.23 on Friday. The company has a market cap of $ 771.22 million, a price-to-earnings ratio of 9.10 and a beta of 0.82. The company has a debt to equity ratio of 0.09, a rapid ratio of 0.78, and a current ratio of 0.78. Community Trust Bancorp has a fifty-two week minimum of $ 35.61 and a 52 week high of $ 47.53. The company has a 50-day moving average price of $ 43.76 and a 200-day moving average price of $ 42.03.

Community Trust Bancorp (NASDAQ: CTBI) last released its quarterly results on Tuesday, October 19. The financial services provider announced EPS of $ 1.19 for the quarter, beating the Zacks’ consensus estimate of $ 1.16 by $ 0.03. Community Trust Bancorp had a net margin of 35.56% and a return on equity of 12.56%. The company posted revenue of $ 56.40 million in the quarter, compared to analyst estimates of $ 55.40 million. As a group, equity research analysts predict that Community Trust Bancorp will post earnings per share of 4.94 for the current year.

Separately, Zacks investment research Upgraded Community Trust Bancorp shares from a “hold” rating to a “buy” rating and set a price target of $ 49.00 for the company in a report released on Tuesday, December 7.

In other news from Community Trust Bancorp, the director Charles J. Baird sold 4,000 shares of the company in a trade on Thursday, December 9. The shares were sold at an average price of $ 43.02, for a total trade of $ 172,080.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In addition, Executive Vice President James B. Draughn sold 5,000 shares of the company in a transaction dated Monday, November 22. The stock was sold for an average price of $ 44.86, for a total trade of $ 224,300.00. Disclosure of this sale can be found here. Insiders sold a total of 9,780 shares of the company valued at $ 431,348 during the last quarter. 4.80% of the shares are currently held by insiders of the company.

Large investors have recently increased or reduced their stakes in the company. Royal Bank of Canada increased its position in Community Trust Bancorp shares by 44.4% in the second quarter. Royal Bank of Canada now owns 1,066 shares of the financial services provider valued at $ 43,000 after purchasing an additional 328 shares during the period. BNP Paribas Arbitrage SA increased its position in Community Trust Bancorp shares by 107.4% in the third quarter. BNP Paribas Arbitrage SA now owns 4,245 shares of the financial services provider valued at $ 179,000 after purchasing an additional 2,198 shares during the period. Wells Fargo & Company MN increased its position in shares of Community Trust Bancorp by 99.5% in the 2nd quarter. Wells Fargo & Company MN now owns 14,830 shares of the financial services provider valued at $ 598,000 after purchasing an additional 7,398 shares during the period. UBS Group AG increased its position in Community Trust Bancorp shares by 11.6% in the third quarter. UBS Group AG now owns 23,149 shares of the financial services provider valued at $ 975,000 after purchasing an additional 2,405 shares during the period. Finally, Invesco Ltd. increased its position in Community Trust Bancorp by 6.5% during the 3rd quarter. Invesco Ltd. now owns 31,357 shares of the financial services provider valued at $ 1,320,000 after purchasing an additional 1,919 shares in the last quarter. 57.62% of the shares are currently held by hedge funds and other institutional investors.

About Community Trust Bancorp

Community Trust Bancorp, Inc is a bank holding company, which provides community banking services through its subsidiary Community Trust Bank, Inc. secured and unsecured loans to businesses, individuals and others, providing services managing cash flow to businesses and individuals, issuing letters of credit, renting safes and providing money transfer services.

See also: Dividend

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