Community Trust Bancorp (NASDAQ:CTBI) Shares Pass Above 200 Day Moving Average – What’s Next?

Community Trust Bancorp, Inc. (NASDAQ:CTBI)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $51.01 and traded as high as $51.32. Community Trust Bancorp shares last traded at $51.11, with a volume of 73,972 shares traded.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Piper Sandler reiterated an “overweight” rating and set a $64.00 price target on shares of Community Trust Bancorp in a research report on Friday, November 8th. Raymond James upgraded shares of Community Trust Bancorp from a “market perform” rating to an “outperform” rating and set a $60.00 target price on the stock in a research report on Friday, October 18th.

Community Trust Bancorp Stock Performance

The company has a debt-to-equity ratio of 0.09, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market cap of $922.94 million, a PE ratio of 11.62 and a beta of 0.67. The business has a 50 day moving average price of $56.48 and a two-hundred day moving average price of $51.01.

Community Trust Bancorp (NASDAQ:CTBI) last announced its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.08. Community Trust Bancorp had a net margin of 21.64% and a return on equity of 10.93%. The business had revenue of $95.38 million for the quarter, compared to analyst estimates of $62.00 million. As a group, equities research analysts forecast that Community Trust Bancorp, Inc. will post 4.56 EPS for the current fiscal year.

Community Trust Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Sunday, December 15th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date of this dividend was Friday, December 13th. Community Trust Bancorp’s payout ratio is 42.73%.

Institutional Investors Weigh In On Community Trust Bancorp

A number of large investors have recently made changes to their positions in the business. Quantbot Technologies LP bought a new stake in Community Trust Bancorp in the third quarter valued at $63,000. Coastline Trust Co bought a new stake in shares of Community Trust Bancorp during the 3rd quarter valued at about $79,000. CWM LLC increased its position in shares of Community Trust Bancorp by 12.2% during the third quarter. CWM LLC now owns 2,918 shares of the financial services provider’s stock valued at $145,000 after buying an additional 317 shares during the period. SG Americas Securities LLC bought a new position in Community Trust Bancorp in the third quarter worth about $209,000. Finally, BNP Paribas Financial Markets lifted its holdings in Community Trust Bancorp by 33.7% in the third quarter. BNP Paribas Financial Markets now owns 4,285 shares of the financial services provider’s stock worth $213,000 after buying an additional 1,079 shares during the period. 60.20% of the stock is currently owned by institutional investors.

Community Trust Bancorp Company Profile

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.