Community Trust Bancorp (NASDAQ:CTBI) Shares Pass Above Two Hundred Day Moving Average of $43.58

Community Trust Bancorp, Inc. (NASDAQ:CTBI)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $43.58 and traded as high as $49.01. Community Trust Bancorp shares last traded at $48.02, with a volume of 32,780 shares changing hands.

Community Trust Bancorp Stock Performance

The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09. The stock has a market cap of $866.76 million, a PE ratio of 11.14 and a beta of 0.64. The business’s 50-day moving average price is $47.48 and its 200-day moving average price is $43.58.

Community Trust Bancorp (NASDAQ:CTBI) last released its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.06. The business had revenue of $92.36 million for the quarter, compared to analyst estimates of $58.65 million. Community Trust Bancorp had a net margin of 21.85% and a return on equity of 11.14%. As a group, equities research analysts expect that Community Trust Bancorp, Inc. will post 4.38 earnings per share for the current fiscal year.

Community Trust Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Sunday, September 15th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.92%. The ex-dividend date is Friday, September 13th. This is an increase from Community Trust Bancorp’s previous quarterly dividend of $0.46. Community Trust Bancorp’s dividend payout ratio (DPR) is currently 42.69%.

Insider Transactions at Community Trust Bancorp

In related news, EVP Andy D. Waters acquired 10,000 shares of the firm’s stock in a transaction that occurred on Friday, July 19th. The stock was purchased at an average cost of $32.27 per share, with a total value of $322,700.00. Following the transaction, the executive vice president now directly owns 11,401 shares of the company’s stock, valued at approximately $367,910.27. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders have acquired 20,011 shares of company stock worth $645,881. Insiders own 4.30% of the company’s stock.

Institutional Trading of Community Trust Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its holdings in shares of Community Trust Bancorp by 4.0% in the second quarter. The Manufacturers Life Insurance Company now owns 6,112 shares of the financial services provider’s stock valued at $267,000 after purchasing an additional 234 shares during the period. Parallel Advisors LLC raised its position in Community Trust Bancorp by 77.8% during the 4th quarter. Parallel Advisors LLC now owns 704 shares of the financial services provider’s stock worth $31,000 after buying an additional 308 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Community Trust Bancorp by 5.2% during the 4th quarter. Victory Capital Management Inc. now owns 8,605 shares of the financial services provider’s stock valued at $377,000 after acquiring an additional 428 shares during the period. ClariVest Asset Management LLC boosted its holdings in shares of Community Trust Bancorp by 2.9% in the 2nd quarter. ClariVest Asset Management LLC now owns 15,913 shares of the financial services provider’s stock valued at $695,000 after acquiring an additional 445 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Community Trust Bancorp by 0.3% in the second quarter. Renaissance Technologies LLC now owns 143,382 shares of the financial services provider’s stock worth $6,260,000 after acquiring an additional 500 shares during the period. Institutional investors and hedge funds own 60.20% of the company’s stock.

About Community Trust Bancorp

Community Trust Bancorp, Inc operates as the bank holding company for Community Trust Bank, Inc that engages in the provision of commercial and personal banking, and trust and wealth management services to small and mid-sized communities in eastern, northeastern, central, and south-central Kentucky, as well as southern West Virginia, and northeastern Tennessee.