Community Trust Bancorp (NASDAQ:CTBI) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Community Trust Bancorp, Inc. (NASDAQ:CTBI)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $51.01 and traded as high as $51.32. Community Trust Bancorp shares last traded at $51.11, with a volume of 73,972 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CTBI. Raymond James raised Community Trust Bancorp from a “market perform” rating to an “outperform” rating and set a $60.00 price objective for the company in a research report on Friday, October 18th. Piper Sandler reissued an “overweight” rating and issued a $64.00 price target on shares of Community Trust Bancorp in a research note on Friday, November 8th.

Community Trust Bancorp Price Performance

The company has a fifty day moving average of $56.42 and a 200-day moving average of $51.07. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.09. The stock has a market cap of $897.84 million, a PE ratio of 11.30 and a beta of 0.67.

Community Trust Bancorp (NASDAQ:CTBI) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.08. The business had revenue of $95.38 million for the quarter, compared to analysts’ expectations of $62.00 million. Community Trust Bancorp had a net margin of 21.64% and a return on equity of 10.93%. Sell-side analysts expect that Community Trust Bancorp, Inc. will post 4.56 EPS for the current fiscal year.

Community Trust Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Sunday, December 15th were paid a $0.47 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.88 annualized dividend and a dividend yield of 3.78%. Community Trust Bancorp’s dividend payout ratio (DPR) is 42.73%.

Institutional Trading of Community Trust Bancorp

Hedge funds have recently modified their holdings of the stock. Thoroughbred Financial Services LLC acquired a new stake in Community Trust Bancorp in the 2nd quarter valued at about $2,891,000. AQR Capital Management LLC increased its stake in shares of Community Trust Bancorp by 37.8% during the second quarter. AQR Capital Management LLC now owns 188,707 shares of the financial services provider’s stock worth $8,239,000 after buying an additional 51,765 shares during the period. American Century Companies Inc. raised its holdings in Community Trust Bancorp by 20.5% in the second quarter. American Century Companies Inc. now owns 274,759 shares of the financial services provider’s stock valued at $11,996,000 after acquiring an additional 46,745 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Community Trust Bancorp by 34.9% in the third quarter. JPMorgan Chase & Co. now owns 95,233 shares of the financial services provider’s stock worth $4,729,000 after acquiring an additional 24,622 shares during the last quarter. Finally, Clifford Capital Partners LLC grew its holdings in Community Trust Bancorp by 7.8% during the 2nd quarter. Clifford Capital Partners LLC now owns 324,515 shares of the financial services provider’s stock worth $14,168,000 after acquiring an additional 23,564 shares in the last quarter. 60.20% of the stock is currently owned by institutional investors and hedge funds.

Community Trust Bancorp Company Profile

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.