Community Trust Bancorp (NASDAQ:CTBI) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

Community Trust Bancorp, Inc. (NASDAQ:CTBI) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $55.40 and traded as high as $57.59. Community Trust Bancorp shares last traded at $56.91, with a volume of 32,571 shares trading hands.

Wall Street Analyst Weigh In

CTBI has been the subject of a number of research reports. Raymond James Financial set a $61.00 price objective on Community Trust Bancorp in a report on Wednesday, October 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Community Trust Bancorp in a research report on Monday. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat, Community Trust Bancorp has a consensus rating of “Buy” and a consensus target price of $63.50.

Community Trust Bancorp Stock Down 1.4%

The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.08. The company has a fifty day simple moving average of $55.61 and a 200 day simple moving average of $55.40. The firm has a market capitalization of $1.03 billion, a P/E ratio of 11.01 and a beta of 0.60.

Community Trust Bancorp (NASDAQ:CTBI) last issued its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $1.32 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.06). The company had revenue of $71.50 million for the quarter, compared to the consensus estimate of $71.85 million. Community Trust Bancorp had a net margin of 23.24% and a return on equity of 11.73%. On average, equities analysts expect that Community Trust Bancorp, Inc. will post 5.06 EPS for the current fiscal year.

Community Trust Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 15th will be given a $0.53 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $2.12 annualized dividend and a yield of 3.7%. Community Trust Bancorp’s dividend payout ratio is 41.01%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CTBI. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Community Trust Bancorp by 1.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 48,285 shares of the financial services provider’s stock valued at $2,702,000 after purchasing an additional 712 shares in the last quarter. Virtus Advisers LLC bought a new stake in Community Trust Bancorp in the 3rd quarter worth about $142,000. Voleon Capital Management LP purchased a new position in Community Trust Bancorp in the 3rd quarter worth about $217,000. Qube Research & Technologies Ltd lifted its stake in Community Trust Bancorp by 43.4% during the 3rd quarter. Qube Research & Technologies Ltd now owns 84,468 shares of the financial services provider’s stock valued at $4,726,000 after acquiring an additional 25,549 shares during the period. Finally, Maltese Capital Management LLC bought a new position in Community Trust Bancorp during the 3rd quarter valued at about $839,000. Hedge funds and other institutional investors own 60.20% of the company’s stock.

Community Trust Bancorp Company Profile

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.