Community Trust Bancorp (NASDAQ:CTBI) Hits New 1-Year High – What’s Next?

Community Trust Bancorp, Inc. (NASDAQ:CTBI) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $79.60 and last traded at $79.4890, with a volume of 7640 shares trading hands. The stock had previously closed at $78.45.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Raymond James Financial restated an “outperform” rating and set a $82.00 price target on shares of Community Trust Bancorp in a research note on Thursday, July 16th. Piper Sandler lifted their price objective on shares of Community Trust Bancorp from $76.00 to $81.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Weiss Ratings cut shares of Community Trust Bancorp from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday. Finally, Zacks Research downgraded shares of Community Trust Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Community Trust Bancorp currently has an average rating of “Moderate Buy” and an average target price of $81.50.

Community Trust Bancorp Price Performance

The stock has a market cap of $1.42 billion, a price-to-earnings ratio of 13.16 and a beta of 0.53. The stock has a fifty day simple moving average of $71.46 and a 200-day simple moving average of $65.77. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.08.

Community Trust Bancorp (NASDAQ:CTBI) last posted its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.12. The company had revenue of $78.49 million during the quarter, compared to analysts’ expectations of $76.85 million. Community Trust Bancorp had a return on equity of 12.66% and a net margin of 25.55%. As a group, equities research analysts expect that Community Trust Bancorp, Inc. will post 6.41 EPS for the current year.

Community Trust Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be issued a $0.65 dividend. This is a boost from Community Trust Bancorp’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $2.60 dividend on an annualized basis and a yield of 3.3%. Community Trust Bancorp’s payout ratio is currently 35.51%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CTBI. Assetmark Inc. bought a new stake in shares of Community Trust Bancorp in the fourth quarter valued at about $27,000. Garton & Associates Financial Advisors LLC acquired a new stake in Community Trust Bancorp during the fourth quarter worth about $30,000. Quadrant Capital Group LLC bought a new position in Community Trust Bancorp during the third quarter valued at about $86,000. Russell Investments Group Ltd. increased its stake in Community Trust Bancorp by 478.9% during the third quarter. Russell Investments Group Ltd. now owns 1,650 shares of the financial services provider’s stock valued at $92,000 after acquiring an additional 1,365 shares during the period. Finally, Strs Ohio acquired a new position in Community Trust Bancorp in the 1st quarter valued at approximately $86,000. Institutional investors 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.