Community Trust Bancorp (NASDAQ:CTBI) Share Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Community Trust Bancorp, Inc. (NASDAQ:CTBI) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $52.49 and traded as high as $55.72. Community Trust Bancorp shares last traded at $55.68, with a volume of 47,071 shares.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CTBI. Raymond James upgraded shares of Community Trust Bancorp from a “market perform” rating to an “outperform” rating and set a $60.00 price target for the company in a report on Friday, October 18th. Piper Sandler restated an “overweight” rating and set a $64.00 price target on shares of Community Trust Bancorp in a report on Friday, November 8th.

Community Trust Bancorp Price Performance

The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market cap of $1.00 billion, a PE ratio of 12.04 and a beta of 0.67. The stock’s 50-day moving average is $54.33 and its two-hundred day moving average is $52.54.

Community Trust Bancorp (NASDAQ:CTBI) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.05. Community Trust Bancorp had a net margin of 22.02% and a return on equity of 11.36%. During the same quarter in the previous year, the company posted $1.04 earnings per share. On average, equities analysts predict that Community Trust Bancorp, Inc. will post 5.06 earnings per share for the current year.

Community Trust Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Saturday, March 15th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.39%. Community Trust Bancorp’s payout ratio is currently 40.78%.

Hedge Funds Weigh In On Community Trust Bancorp

A number of hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its position in Community Trust Bancorp by 1.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,208,065 shares of the financial services provider’s stock valued at $64,064,000 after buying an additional 21,008 shares during the period. Geode Capital Management LLC boosted its position in Community Trust Bancorp by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 374,544 shares of the financial services provider’s stock valued at $19,866,000 after buying an additional 1,386 shares during the period. American Century Companies Inc. boosted its position in Community Trust Bancorp by 11.4% in the 4th quarter. American Century Companies Inc. now owns 350,755 shares of the financial services provider’s stock valued at $18,601,000 after buying an additional 35,777 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Community Trust Bancorp by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 126,276 shares of the financial services provider’s stock valued at $6,696,000 after buying an additional 904 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Community Trust Bancorp by 25.2% in the 4th quarter. JPMorgan Chase & Co. now owns 119,197 shares of the financial services provider’s stock valued at $6,321,000 after buying an additional 23,964 shares during the period. Hedge funds and other institutional investors own 60.20% of the company’s stock.

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.