Community Trust Bancorp (NASDAQ:CTBI) Sets New 12-Month High – What’s Next?

Shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $71.31 and last traded at $71.0550, with a volume of 60136 shares traded. The stock had previously closed at $70.08.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Weiss Ratings raised Community Trust Bancorp from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, May 18th. Zacks Research cut Community Trust Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 16th. Finally, Piper Sandler began coverage on Community Trust Bancorp in a research note on Thursday, June 11th. They issued a “neutral” rating and a $76.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Community Trust Bancorp currently has an average rating of “Moderate Buy” and an average target price of $68.50.

Community Trust Bancorp Price Performance

The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of 12.40 and a beta of 0.54. The company’s 50 day moving average is $66.65 and its 200 day moving average is $62.66. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.08.

Community Trust Bancorp (NASDAQ:CTBI) last issued its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.11. Community Trust Bancorp had a net margin of 24.85% and a return on equity of 12.27%. The business had revenue of $74.20 million during the quarter, compared to analysts’ expectations of $73.00 million. On average, equities research analysts anticipate that Community Trust Bancorp, Inc. will post 6.13 earnings per share for the current fiscal year.

Community Trust Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Monday, June 15th. Community Trust Bancorp’s payout ratio is 37.13%.

Institutional Investors Weigh In On Community Trust Bancorp

A number of large investors have recently added to or reduced their stakes in CTBI. American Century Companies Inc. lifted its position in shares of Community Trust Bancorp by 10.1% during the 3rd quarter. American Century Companies Inc. now owns 452,995 shares of the financial services provider’s stock valued at $25,345,000 after acquiring an additional 41,551 shares during the period. Clifford Capital Partners LLC increased its position in shares of Community Trust Bancorp by 0.3% in the third 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 position in shares of Community Trust Bancorp by 14.9% in the fourth 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. raised its stake in Community Trust Bancorp by 5.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 213,223 shares of the financial services provider’s stock valued at $12,047,000 after purchasing an additional 10,892 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in Community Trust Bancorp by 114.0% in the first quarter. Janus Henderson Group PLC now owns 192,413 shares of the financial services provider’s stock valued at $11,684,000 after purchasing an additional 102,488 shares in the last quarter. Institutional investors and hedge funds own 60.20% of the company’s stock.

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.