Community Trust Bancorp (NASDAQ:CTBI) Sees Strong Trading Volume – Still a Buy?

Community Trust Bancorp, Inc. (NASDAQ:CTBI) shares saw an uptick in trading volume on Thursday . 50,521 shares traded hands during mid-day trading, a decline of 19% from the previous session’s volume of 62,456 shares.The stock last traded at $59.3750 and had previously closed at $58.11.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CTBI. 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 report on Monday, December 29th. Three analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $63.50.

Community Trust Bancorp Trading Up 3.3%

The business’s 50-day moving average price is $56.79 and its 200-day moving average price is $55.84. The firm has a market capitalization of $1.09 billion, a PE ratio of 11.66 and a beta of 0.58. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.93 and a quick ratio of 0.93.

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 analysts’ consensus estimates of $1.38 by ($0.06). The business 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%. As a group, analysts expect that Community Trust Bancorp, Inc. will post 5.06 earnings per share for the current fiscal year.

Community Trust Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 15th were paid a dividend of $0.53 per share. The ex-dividend date was Monday, December 15th. This represents a $2.12 annualized dividend and a dividend yield of 3.5%. Community Trust Bancorp’s dividend payout ratio is 41.01%.

Institutional Trading of Community Trust Bancorp

A number of hedge funds have recently added to or reduced their stakes in CTBI. SG Americas Securities LLC grew its stake in shares of Community Trust Bancorp by 462.8% in the 4th quarter. SG Americas Securities LLC now owns 36,957 shares of the financial services provider’s stock valued at $2,088,000 after purchasing an additional 30,390 shares during the last quarter. JPMorgan Chase & Co. grew its position in Community Trust Bancorp by 24.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 92,224 shares of the financial services provider’s stock valued at $5,160,000 after buying an additional 18,387 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in Community Trust Bancorp by 1.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 48,285 shares of the financial services provider’s stock valued at $2,702,000 after buying an additional 712 shares during the last quarter. Virtus Advisers LLC acquired a new position in Community Trust Bancorp in the 3rd quarter valued at $142,000. Finally, Voleon Capital Management LP purchased a new position in Community Trust Bancorp during the 3rd quarter worth $217,000. 60.20% of the stock is owned by institutional investors and hedge funds.

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.