Community Trust Bancorp (NASDAQ:CTBI) Shares Cross Above 200 Day Moving Average – Here’s What Happened

Community Trust Bancorp, Inc. (NASDAQ:CTBI)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $55.65 and traded as high as $57.33. Community Trust Bancorp shares last traded at $57.22, with a volume of 52,410 shares trading hands.

Analysts Set New Price Targets

CTBI has been the subject of a number of analyst reports. Raymond James Financial set a $61.00 target price on shares of Community Trust Bancorp in a research note on Wednesday, October 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of Community Trust Bancorp in a report on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $63.50.

Community Trust Bancorp Stock Performance

The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of 11.07 and a beta of 0.58. The company has a 50 day moving average price of $56.15 and a 200 day moving average price of $55.65. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 0.93.

Community Trust Bancorp (NASDAQ:CTBI) last posted its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $1.32 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.06). The firm had revenue of $71.50 million for the quarter, compared to analyst estimates of $71.85 million. Community Trust Bancorp had a return on equity of 11.73% and a net margin of 23.24%. Equities research analysts predict that Community Trust Bancorp, Inc. will post 5.06 earnings per share for the current fiscal year.

Community Trust Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 15th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Monday, December 15th. Community Trust Bancorp’s dividend payout ratio is presently 41.01%.

Institutional Trading of Community Trust Bancorp

Hedge funds have recently bought and sold shares of the business. Farther Finance Advisors LLC bought a new position in shares of Community Trust Bancorp in the second quarter valued at approximately $40,000. Prospera Financial Services Inc purchased a new stake in Community Trust Bancorp in the 2nd quarter valued at $346,000. Y Intercept Hong Kong Ltd bought a new position in Community Trust Bancorp during the 2nd quarter valued at $387,000. Geode Capital Management LLC boosted its holdings in Community Trust Bancorp by 4.6% during the 2nd quarter. Geode Capital Management LLC now owns 413,312 shares of the financial services provider’s stock worth $21,872,000 after acquiring an additional 17,995 shares during the last quarter. Finally, Community Trust & Investment Co. boosted its holdings in Community Trust Bancorp by 3.0% during the 2nd quarter. Community Trust & Investment Co. now owns 1,979,076 shares of the financial services provider’s stock worth $104,733,000 after acquiring an additional 58,142 shares during the last quarter. 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.