Community Trust Bancorp (NASDAQ:CTBI) Stock Passes Above 200 Day Moving Average – What’s Next?

Community Trust Bancorp, Inc. (NASDAQ:CTBI)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $56.49 and traded as high as $64.99. Community Trust Bancorp shares last traded at $63.99, with a volume of 71,644 shares changing hands.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CTBI. Weiss Ratings reissued a “buy (b)” rating on shares of Community Trust Bancorp in a research note on Monday, December 29th. Raymond James Financial set a $61.00 price target on Community Trust Bancorp in a research note on Wednesday, October 15th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $63.50.

Community Trust Bancorp Stock Performance

The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market cap of $1.16 billion, a P/E ratio of 11.78 and a beta of 0.58. The company’s 50 day moving average is $59.04 and its 200 day moving average is $56.49.

Community Trust Bancorp (NASDAQ:CTBI) last posted its earnings results on Wednesday, January 21st. The financial services provider reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.08. Community Trust Bancorp had a net margin of 23.95% and a return on equity of 12.14%. The firm had revenue of $74.72 million for the quarter, compared to analysts’ expectations of $73.15 million. As a group, equities analysts predict that Community Trust Bancorp, Inc. will post 5.06 earnings per share for the current fiscal year.

Community Trust Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Sunday, March 15th will be given a $0.53 dividend. The ex-dividend date is Friday, March 13th. This represents a $2.12 annualized dividend and a yield of 3.3%. Community Trust Bancorp’s dividend payout ratio (DPR) is currently 39.04%.

Institutional Trading of Community Trust Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in CTBI. Assetmark Inc. bought a new position in Community Trust Bancorp in the 4th quarter valued at approximately $27,000. State of Alaska Department of Revenue acquired a new position in Community Trust Bancorp in the 3rd quarter valued at approximately $40,000. Farther Finance Advisors LLC raised its stake in shares of Community Trust Bancorp by 51.5% during the third quarter. Farther Finance Advisors LLC now owns 1,148 shares of the financial services provider’s stock valued at $64,000 after acquiring an additional 390 shares during the last quarter. Quadrant Capital Group LLC bought a new position in shares of Community Trust Bancorp during the third quarter valued at $86,000. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Community Trust Bancorp by 478.9% during the third quarter. Russell Investments Group Ltd. now owns 1,650 shares of the financial services provider’s stock worth $92,000 after purchasing an additional 1,365 shares during the period. 60.20% of the stock is currently owned by institutional investors.

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.