Community Trust Bancorp said on April 26, 2023 that its board of directors declared a regular quarterly dividend of $0.44 per share ($1.76 annualized). Previously, the company paid $0.44 per share.
Shares must be purchased before the ex-div date of June 14, 2023 to qualify for the dividend. Shareholders of record as of June 15, 2023 will receive the payment on July 1, 2023.
At the current share price of $35.96 / share, the stock's dividend yield is 4.89%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.79%, the lowest has been 2.51%, and the highest has been 5.38%. The standard deviation of yields is 0.59 (n=236).
The current dividend yield is 1.86 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.39. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.16%, demonstrating that it has increased its dividend over time.
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What is the Fund Sentiment?
There are 356 funds or institutions reporting positions in Community Trust Bancorp. This is an increase of 5 owner(s) or 1.42% in the last quarter. Average portfolio weight of all funds dedicated to CTBI is 0.10%, a decrease of 14.25%. Total shares owned by institutions increased in the last three months by 0.36% to 12,393K shares. 
The put/call ratio of CTBI is 1.37, indicating a bearish outlook.
Analyst Price Forecast Suggests 27.64% Upside
As of April 24, 2023, the average one-year price target for Community Trust Bancorp is 45.90. The forecasts range from a low of 45.45 to a high of $47.25. The average price target represents an increase of 27.64% from its latest reported closing price of 35.96.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Community Trust Bancorp is 244MM, an increase of 9.95%. The projected annual non-GAAP EPS is 4.71.
What are Other Shareholders Doing?
Community Trust & Investment holds 2,010K shares representing 11.18% ownership of the company. In it's prior filing, the firm reported owning 1,928K shares, representing an increase of 4.11%. The firm increased its portfolio allocation in CTBI by 42,927.33% over the last quarter.
Northern Trust holds 526K shares representing 2.92% ownership of the company. In it's prior filing, the firm reported owning 518K shares, representing an increase of 1.43%. The firm increased its portfolio allocation in CTBI by 5.57% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 438K shares representing 2.44% ownership of the company. In it's prior filing, the firm reported owning 438K shares, representing an increase of 0.09%. The firm increased its portfolio allocation in CTBI by 4.70% over the last quarter.
IWM - iShares Russell 2000 ETF holds 386K shares representing 2.15% ownership of the company. In it's prior filing, the firm reported owning 355K shares, representing an increase of 8.22%. The firm increased its portfolio allocation in CTBI by 11.77% over the last quarter.
Clifford Capital Partners holds 297K shares representing 1.65% ownership of the company. In it's prior filing, the firm reported owning 238K shares, representing an increase of 19.95%. The firm decreased its portfolio allocation in CTBI by 99.90% over the last quarter.
Community Trust Bancorp Background Information
(This description is provided by the company.)
Community Trust Bancorp, Inc., with assets of $5.1 billion, is headquartered in Pikeville, Kentucky and has 70 banking locations across eastern, northeastern, central, and south central Kentucky, six banking locations in southern West Virginia, three banking locations in northeastern Tennessee, four trust offices across Kentucky, and one trust office in Tennessee.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
