Community Trust Bancorp (NASDAQ:CTBI) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

by · The Cerbat Gem

Shares of Community Trust Bancorp, Inc. (NASDAQ:CTBIGet Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $55.40 and traded as high as $57.59. Community Trust Bancorp shares last traded at $56.91, with a volume of 32,571 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on CTBI shares. Raymond James Financial set a $61.00 price objective on shares of Community Trust Bancorp in a research note on Wednesday, October 15th. Weiss Ratings reissued a “buy (b)” rating on shares of Community Trust Bancorp in a report on Monday. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Community Trust Bancorp has a consensus rating of “Buy” and an average price target of $63.50.

Get Our Latest Research Report on CTBI

Community Trust Bancorp Stock Down 0.7%

The business has a 50-day moving average price of $55.68 and a 200-day moving average price of $55.41. The stock has a market cap of $1.02 billion, a PE ratio of 10.93 and a beta of 0.60. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08.

Community Trust Bancorp (NASDAQ:CTBIGet Free Report) last posted its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $1.32 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.06). The company had revenue of $71.50 million for the quarter, compared to analyst estimates of $71.85 million. Community Trust Bancorp had a return on equity of 11.73% and a net margin of 23.24%. As a group, analysts forecast 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 declared a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 15th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $2.12 dividend on an annualized basis and a yield of 3.8%. Community Trust Bancorp’s dividend payout ratio (DPR) is currently 41.01%.

Hedge Funds Weigh In On Community Trust Bancorp

Hedge funds have recently made changes to their positions in the company. Equitable Trust Co. lifted its position in shares of Community Trust Bancorp by 3.4% in the second quarter. Equitable Trust Co. now owns 5,930 shares of the financial services provider’s stock valued at $314,000 after acquiring an additional 193 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its stake in Community Trust Bancorp by 7.6% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 2,958 shares of the financial services provider’s stock valued at $156,000 after purchasing an additional 208 shares during the last quarter. BTC Capital Management Inc. lifted its holdings in Community Trust Bancorp by 3.4% in the 2nd quarter. BTC Capital Management Inc. now owns 7,811 shares of the financial services provider’s stock valued at $412,000 after purchasing an additional 259 shares in the last quarter. SummerHaven Investment Management LLC lifted its holdings in Community Trust Bancorp by 1.6% in the 2nd quarter. SummerHaven Investment Management LLC now owns 18,571 shares of the financial services provider’s stock valued at $983,000 after purchasing an additional 293 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Community Trust Bancorp by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,122 shares of the financial services provider’s stock worth $459,000 after purchasing an additional 381 shares during the last quarter. Institutional investors and hedge funds own 60.20% of the company’s stock.

About Community Trust Bancorp

(Get Free Report)

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.

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