Community Trust Bancorp (NASDAQ:CTBI) Reaches New 12-Month High – Here’s What Happened

by · The Markets Daily

Community Trust Bancorp, Inc. (NASDAQ:CTBI – Get Free Report) hit a new 52-week high on Wednesday . The stock traded as high as $52.22 and last traded at $52.22, with a volume of 9808 shares trading hands. The stock had previously closed at $50.76.

Community Trust Bancorp Stock Performance

The company has a market capitalization of $941.68 million, a PE ratio of 12.12 and a beta of 0.64. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.09. The company has a 50-day moving average price of $48.43 and a two-hundred day moving average price of $45.22.

Community Trust Bancorp (NASDAQ:CTBI – Get Free Report) last announced its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.06. The company had revenue of $92.36 million during the quarter, compared to analysts’ expectations of $58.65 million. Community Trust Bancorp had a return on equity of 11.14% and a net margin of 21.85%. Analysts predict that Community Trust Bancorp, Inc. will post 4.39 EPS for the current fiscal year.

Community Trust Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Sunday, September 15th were given a $0.47 dividend. The ex-dividend date of this dividend was Friday, September 13th. This is a boost from Community Trust Bancorp’s previous quarterly dividend of $0.46. This represents a $1.88 annualized dividend and a dividend yield of 3.60%. Community Trust Bancorp’s payout ratio is 43.62%.

Insider Activity

In related news, EVP Andy D. Waters purchased 10,000 shares of Community Trust Bancorp stock in a transaction dated Friday, July 19th. The stock was bought at an average cost of $32.27 per share, for a total transaction of $322,700.00. Following the completion of the transaction, the executive vice president now owns 11,401 shares in the company, valued at $367,910.27. This trade represents a 700.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 4.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Community Trust Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company grew its position in Community Trust Bancorp by 4.0% during the second quarter. The Manufacturers Life Insurance Company now owns 6,112 shares of the financial services provider’s stock worth $267,000 after buying an additional 234 shares in the last quarter. CWM LLC lifted its stake in Community Trust Bancorp by 12.2% during the third quarter. CWM LLC now owns 2,918 shares of the financial services provider’s stock worth $145,000 after purchasing an additional 317 shares during the last quarter. ClariVest Asset Management LLC lifted its stake in Community Trust Bancorp by 2.9% during the second quarter. ClariVest Asset Management LLC now owns 15,913 shares of the financial services provider’s stock worth $695,000 after purchasing an additional 445 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Community Trust Bancorp by 0.3% during the second quarter. Renaissance Technologies LLC now owns 143,382 shares of the financial services provider’s stock worth $6,260,000 after purchasing an additional 500 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Community Trust Bancorp by 4.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,484 shares of the financial services provider’s stock valued at $618,000 after acquiring an additional 631 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

(Get Free Report)

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.

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