PIKEVILLE, Ky. - Community Trust Bancorp , Inc. (NASDAQ:CTBI), a regional bank holding company, has announced a quarterly cash dividend of $0.46 per share. The dividend is payable on July 1, 2024, to shareholders of record as of June 15, 2024.
The company, which is based in Pikeville, Kentucky, oversees assets totaling $5.9 billion and operates a network of 71 banking locations in Kentucky, along with additional branches in West Virginia and Tennessee. Community Trust Bancorp also manages trust offices across Kentucky and one in Tennessee.
This dividend declaration follows the company's tradition of returning value to its shareholders and reflects its financial health and commitment to its investors.
The information for this report is based on a press release statement from Community Trust Bancorp, Inc.
InvestingPro Insights
Community Trust Bancorp, Inc. (NASDAQ:CTBI) has not only announced its regular quarterly dividend but also exhibits a strong track record of shareholder returns. According to InvestingPro Tips, CTBI has raised its dividend for 29 consecutive years and has maintained dividend payments for 37 consecutive years. This consistency underscores the company's commitment to its shareholders and suggests a stable financial base.
From a performance standpoint, CTBI has demonstrated significant returns with a one-week price total return of 8.43%, as of the latest data. Analysts have also revised their earnings upwards for the upcoming period, signaling optimism about the company's future performance. Despite a slight dip in revenue growth over the last twelve months, the company remains profitable with a reported operating income margin of 45.82%.
Key financial metrics from InvestingPro Data further reveal a robust picture: CTBI holds a market capitalization of $773.74 million USD, a P/E ratio of 9.91 indicating a potentially undervalued stock, and a commendable dividend yield of 4.29%. These figures not only reflect the company's current financial health but also its potential for future growth.
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