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

Community Trust Bancorp, Inc. (NASDAQ:CTBI) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $57.70 and traded as high as $60.30. Community Trust Bancorp shares last traded at $57.73, with a volume of 122,214 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued 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, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $63.50.

Community Trust Bancorp Stock Performance

The company’s fifty day simple moving average is $61.27 and its 200 day simple moving average is $57.71. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $1.06 billion, a P/E ratio of 10.79 and a beta of 0.57.

Community Trust Bancorp (NASDAQ:CTBI) last announced its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.08. The company had revenue of $74.72 million for the quarter, compared to analysts’ expectations of $73.15 million. Community Trust Bancorp had a return on equity of 11.96% and a net margin of 23.95%. As a group, sell-side analysts forecast 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 will be paid on Wednesday, April 1st. Investors of record on Sunday, March 15th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Friday, March 13th. Community Trust Bancorp’s dividend payout ratio (DPR) is presently 39.04%.

Institutional Trading of Community Trust Bancorp

Institutional investors have recently added to or reduced their stakes in the business. American Century Companies Inc. grew its stake in shares of Community Trust Bancorp by 10.1% during the third quarter. American Century Companies Inc. now owns 452,995 shares of the financial services provider’s stock valued at $25,345,000 after buying an additional 41,551 shares during the last quarter. 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 valued at $21,872,000 after acquiring an additional 17,995 shares during the period. Clifford Capital Partners LLC grew its position in Community Trust Bancorp by 0.3% during the 3rd quarter. Clifford Capital Partners LLC now owns 283,410 shares of the financial services provider’s stock worth $15,857,000 after acquiring an additional 822 shares during the last quarter. LSV Asset Management grew its position in Community Trust Bancorp by 14.9% during the 4th quarter. LSV Asset Management now owns 280,380 shares of the financial services provider’s stock worth $15,841,000 after acquiring an additional 36,300 shares during the last quarter. Finally, 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. 60.20% of the stock is currently owned by hedge funds and other 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.