Community Trust Bancorp (NASDAQ:CTBI) Reaches New 12-Month High – Here’s What Happened

Community Trust Bancorp, Inc. (NASDAQ:CTBI) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $68.71 and last traded at $65.96, with a volume of 105917 shares changing hands. The stock had previously closed at $67.04.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Community Trust Bancorp in a research report on Friday, March 27th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $63.50.

Community Trust Bancorp Stock Down 0.8%

The stock has a 50-day moving average of $61.88 and a two-hundred day moving average of $58.74. The company has a market cap of $1.17 billion, a P/E ratio of 11.31 and a beta of 0.53. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.92 and a current ratio of 0.92.

Community Trust Bancorp (NASDAQ:CTBI) last released its earnings results on Wednesday, April 15th. The financial services provider reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.11. The company had revenue of $74.20 million during the quarter, compared to the consensus estimate of $73.00 million. Community Trust Bancorp had a return on equity of 12.42% and a net margin of 24.85%. On average, research analysts anticipate that Community Trust Bancorp, Inc. will post 6.08 EPS for the current fiscal year.

Community Trust Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Sunday, March 15th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Friday, March 13th. Community Trust Bancorp’s payout ratio is 37.13%.

Hedge Funds Weigh In On Community Trust Bancorp

A number of large investors have recently bought and sold shares of the stock. American Century Companies Inc. increased its stake in Community Trust Bancorp by 10.1% in the 3rd quarter. American Century Companies Inc. now owns 452,995 shares of the financial services provider’s stock worth $25,345,000 after purchasing an additional 41,551 shares during the period. Clifford Capital Partners LLC increased its stake in Community Trust Bancorp by 0.3% in the 3rd quarter. Clifford Capital Partners LLC now owns 283,410 shares of the financial services provider’s stock worth $15,857,000 after purchasing an additional 822 shares during the period. LSV Asset Management increased its stake in Community Trust Bancorp by 14.9% in the 4th quarter. LSV Asset Management now owns 280,380 shares of the financial services provider’s stock worth $15,841,000 after purchasing an additional 36,300 shares during the period. Goldman Sachs Group Inc. increased its stake in Community Trust Bancorp by 5.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 213,223 shares of the financial services provider’s stock worth $12,047,000 after purchasing an additional 10,892 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Community Trust Bancorp by 60.4% in the 4th quarter. JPMorgan Chase & Co. now owns 147,957 shares of the financial services provider’s stock worth $8,360,000 after purchasing an additional 55,733 shares during the period. 60.20% of the stock is owned by hedge funds and other institutional investors.

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.