Community Trust Bancorp (NASDAQ:CTBI) Stock Passes Above 200 Day Moving Average – Here’s Why

Shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $57.19 and traded as high as $63.61. Community Trust Bancorp shares last traded at $63.57, with a volume of 62,013 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Community Trust Bancorp in a research report on Monday, December 29th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $63.50.

Community Trust Bancorp Stock Performance

The business has a 50-day moving average of $60.58 and a two-hundred day moving average of $57.19. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market cap of $1.15 billion, a P/E ratio of 11.71 and a beta of 0.58.

Community Trust Bancorp (NASDAQ:CTBI) last released its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $1.51 EPS for the quarter, beating the consensus estimate 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 business had revenue of $74.72 million during the quarter, compared to analyst estimates of $73.15 million. On average, sell-side analysts predict that Community Trust Bancorp, Inc. will post 5.06 EPS for the current fiscal year.

Community Trust Bancorp Announces Dividend

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 paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 3.3%. The ex-dividend date is Friday, March 13th. Community Trust Bancorp’s dividend payout ratio (DPR) is 39.04%.

Institutional Trading of Community Trust Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Prospera Financial Services Inc purchased a new position in Community Trust Bancorp during the 2nd quarter worth $346,000. Y Intercept Hong Kong Ltd acquired a new stake in Community Trust Bancorp in the second quarter worth about $387,000. Geode Capital Management LLC boosted its holdings in Community Trust Bancorp by 4.6% in the second 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 in the last quarter. American Century Companies Inc. grew its stake in shares of Community Trust Bancorp by 7.0% during the second quarter. American Century Companies Inc. now owns 411,444 shares of the financial services provider’s stock worth $21,774,000 after acquiring an additional 26,826 shares during the last quarter. Finally, D.A. Davidson & CO. acquired a new position in shares of Community Trust Bancorp during the second quarter valued at about $326,000. Hedge funds and other institutional investors 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.