Community Trust Bancorp (NASDAQ:CTBI) Shares Cross Below Two Hundred Day Moving Average – Should You Sell?

Community Trust Bancorp, Inc. (NASDAQ:CTBI) shares crossed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $69.19 and traded as low as $68.67. Community Trust Bancorp shares last traded at $69.11, with a volume of 89,667 shares traded.

Wall Street Analyst Weigh In

Several analysts recently commented on CTBI shares. Piper Sandler dropped their price objective on Community Trust Bancorp from $81.00 to $75.00 and set a “neutral” rating on the stock in a research note on Thursday, October 22nd. Raymond James Financial began coverage on Community Trust Bancorp in a research report on Tuesday, September 1st. They issued an “outperform” rating and a $82.00 price target for the company. Finally, Weiss Ratings downgraded Community Trust Bancorp from a “buy (a)” rating to a “buy (a-)” rating in a research note on Friday, October 23rd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Community Trust Bancorp has a consensus rating of “Moderate Buy” and an average target price of $78.50.

Community Trust Bancorp Price Performance

The company has a 50 day moving average of $74.19 and a 200-day moving average of $69.19. The firm has a market capitalization of $1.26 billion, a P/E ratio of 11.37 and a beta of 0.56. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.08.

Community Trust Bancorp (NASDAQ:CTBI) last announced its earnings results on Wednesday, October 21st. The financial services provider reported $1.43 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.22). Community Trust Bancorp had a net margin of 25.48% and a return on equity of 12.60%. The firm had revenue of $79.70 million during the quarter, compared to analysts’ expectations of $80.20 million. On average, sell-side analysts predict that Community Trust Bancorp, Inc. will post 6.19 EPS for the current year.

Community Trust Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 4th. Investors of record on Tuesday, December 15th will be given a $0.65 dividend. The ex-dividend date is Tuesday, December 15th. This represents a $2.60 annualized dividend and a dividend yield of 3.8%. Community Trust Bancorp’s payout ratio is currently 42.76%.

Insider Buying and Selling

In other Community Trust Bancorp news, Director Franky Minnifield sold 3,900 shares of the business’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $78.85, for a total transaction of $307,515.00. Following the sale, the director directly owned 8,320 shares of the company’s stock, valued at $656,032. The trade was a 31.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Community Trust Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in CTBI. Russell Investments Group Ltd. raised its stake in Community Trust Bancorp by 10.3% in the third quarter. Russell Investments Group Ltd. now owns 9,806 shares of the financial services provider’s stock valued at $728,000 after purchasing an additional 919 shares in the last quarter. Jefferies Financial Group Inc. purchased a new position in shares of Community Trust Bancorp during the 3rd quarter valued at approximately $1,113,000. Ethic Inc. raised its holdings in shares of Community Trust Bancorp by 14.9% during the 3rd quarter. Ethic Inc. now owns 3,227 shares of the financial services provider’s stock worth $240,000 after acquiring an additional 419 shares during the period. John Boyer Inc. acquired a new stake in Community Trust Bancorp in the 3rd quarter valued at about $148,000. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Community Trust Bancorp by 36.3% during the third quarter. Nisa Investment Advisors LLC now owns 1,359 shares of the financial services provider’s stock worth $102,000 after buying an additional 362 shares during the period. 60.20% of the stock is currently owned by institutional investors and hedge funds.

About Community Trust Bancorp

Community Trust Bancorp, Inc is a bank holding company headquartered in Pikeville, Kentucky. Through its principal subsidiary, Community Trust Bank, the company provides banking and financial services to individuals, businesses and organizations.

Its products and services include checking and savings accounts, certificates of deposit, consumer and mortgage loans, commercial lending, agricultural financing and other credit products. Community Trust also offers trust and wealth-management services, investment products, insurance and digital banking tools.

Community Trust Bank traces its history to 1903 and has developed a regional banking network serving communities primarily throughout eastern and central Kentucky, as well as portions of southern West Virginia.