Community Trust Bancorp (NASDAQ:CTBI) Hits New 12-Month High – Here’s Why

Community Trust Bancorp, Inc. (NASDAQ:CTBI)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $74.52 and last traded at $73.4890, with a volume of 22595 shares trading hands. The stock had previously closed at $72.36.

Analyst Ratings Changes

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

Community Trust Bancorp Stock Up 2.5%

The firm has a market cap of $1.35 billion, a PE ratio of 12.98 and a beta of 0.54. The company has a 50-day simple moving average of $67.30 and a 200-day simple moving average of $63.16. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.92 and a quick ratio of 0.92.

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

Community Trust Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be given a dividend of $0.53 per share. The ex-dividend date is Monday, June 15th. This represents a $2.12 dividend on an annualized basis and a yield of 2.9%. Community Trust Bancorp’s payout ratio is currently 37.13%.

Institutional Trading of Community Trust Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the business. American Century Companies Inc. boosted its holdings 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 worth $25,345,000 after purchasing an additional 41,551 shares during the last quarter. Clifford Capital Partners LLC increased its stake in Community Trust Bancorp by 0.3% during 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% during the fourth 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 period. Goldman Sachs Group Inc. raised its position 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 valued at $12,047,000 after purchasing an additional 10,892 shares in the last quarter. Finally, Janus Henderson Group PLC lifted 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 worth $11,684,000 after acquiring an additional 102,488 shares during the last quarter. 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.