Community Trust Bancorp (NASDAQ:CTBI) Reaches New 1-Year High – Time to Buy?

Community Trust Bancorp, Inc. (NASDAQ:CTBI) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $68.72 and last traded at $68.47, with a volume of 15303 shares traded. The stock had previously closed at $67.58.

Wall Street Analyst Weigh In

A number of research firms recently commented on CTBI. Zacks Research upgraded Community Trust Bancorp from a “hold” rating to a “strong-buy” rating in a report on Friday, April 24th. Weiss Ratings upgraded Community Trust Bancorp from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, May 18th. Two equities research analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Strong Buy” and a consensus target price of $63.50.

Community Trust Bancorp Stock Up 1.2%

The business has a fifty day moving average of $64.97 and a 200 day moving average of $61.47. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of 11.96 and a beta of 0.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.92 and a quick ratio of 0.92.

Community Trust Bancorp (NASDAQ:CTBI) last released its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.11. Community Trust Bancorp had a return on equity of 12.27% and a net margin of 24.85%.The firm had revenue of $74.20 million for the quarter, compared to the consensus estimate of $73.00 million. On average, equities analysts predict that Community Trust Bancorp, Inc. will post 6.08 earnings per share for the current year.

Community Trust Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 3.1%. The ex-dividend date is Monday, June 15th. Community Trust Bancorp’s dividend payout ratio (DPR) is 37.13%.

Hedge Funds Weigh In On Community Trust Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC grew its holdings in Community Trust Bancorp by 462.8% during the fourth quarter. SG Americas Securities LLC now owns 36,957 shares of the financial services provider’s stock valued at $2,088,000 after purchasing an additional 30,390 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Community Trust Bancorp by 24.9% during the third quarter. JPMorgan Chase & Co. now owns 92,224 shares of the financial services provider’s stock valued at $5,160,000 after purchasing an additional 18,387 shares during the last quarter. American Century Companies Inc. grew its holdings in Community Trust Bancorp by 10.1% during the third quarter. American Century Companies Inc. now owns 452,995 shares of the financial services provider’s stock valued at $25,345,000 after purchasing an additional 41,551 shares during the last quarter. Hillsdale Investment Management Inc. grew its holdings in Community Trust Bancorp by 24.8% during the third quarter. Hillsdale Investment Management Inc. now owns 124,669 shares of the financial services provider’s stock valued at $6,975,000 after purchasing an additional 24,800 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Community Trust Bancorp during the fourth quarter valued at approximately $1,892,000. Institutional investors and hedge funds own 60.20% of the company’s stock.

About Community Trust Bancorp

Community Trust Bancorp, Inc is a bank holding company headquartered in Pikeville, Kentucky. As the parent of Community Trust Bank, the company provides a comprehensive range of banking services to individuals, families and businesses throughout eastern Kentucky, southern West Virginia and northeast Tennessee. With origins dating back to the early 20th century, the organization has built a reputation for supporting community development and regional economic growth across the Appalachian region.

The company’s personal banking offerings include checking and savings accounts, consumer installment loans, home equity and mortgage lending, as well as online and mobile banking platforms.