Community Trust Bancorp (NASDAQ:CTBI) Hits New 52-Week Low at $37.61

Community Trust Bancorp, Inc. (NASDAQ:CTBI – Get Rating)’s stock price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $37.61 and last traded at $39.24, with a volume of 14183 shares changing hands. The stock had previously closed at $40.43.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Community Trust Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, November 19th.

Community Trust Bancorp Trading Down 0.2 %

The company has a debt-to-equity ratio of 0.10, a current ratio of 0.82 and a quick ratio of 0.82. The stock’s 50-day moving average is $43.47 and its two-hundred day moving average is $44.23. The company has a market cap of $704.10 million, a P/E ratio of 8.53 and a beta of 0.70.

Community Trust Bancorp (NASDAQ:CTBI – Get Rating) last released its quarterly earnings results on Wednesday, January 18th. The financial services provider reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.03. The firm had revenue of $58.76 million for the quarter, compared to analysts’ expectations of $59.55 million. Community Trust Bancorp had a return on equity of 13.01% and a net margin of 32.00%. As a group, equities research analysts predict that Community Trust Bancorp, Inc. will post 4.49 earnings per share for the current fiscal year.

Community Trust Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, April 1st. Shareholders of record on Wednesday, March 15th will be given a $0.44 dividend. The ex-dividend date is Tuesday, March 14th. This represents a $1.76 annualized dividend and a yield of 4.49%. Community Trust Bancorp’s payout ratio is 38.34%.

Insider Activity

In other Community Trust Bancorp news, Director Franky Minnifield acquired 2,000 shares of the company’s stock in a transaction that occurred on Monday, January 30th. The shares were bought at an average price of $42.00 per share, with a total value of $84,000.00. Following the completion of the acquisition, the director now owns 10,091 shares in the company, valued at approximately $423,822. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders acquired 3,000 shares of company stock valued at $124,845 in the last quarter. 4.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Community Trust Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of CTBI. Signaturefd LLC increased its position in Community Trust Bancorp by 156.9% in the third quarter. Signaturefd LLC now owns 709 shares of the financial services provider’s stock worth $29,000 after buying an additional 433 shares in the last quarter. Money Concepts Capital Corp purchased a new position in Community Trust Bancorp during the fourth quarter valued at approximately $32,000. Bessemer Group Inc. bought a new position in shares of Community Trust Bancorp in the third quarter worth approximately $35,000. Belpointe Asset Management LLC bought a new position in shares of Community Trust Bancorp in the fourth quarter worth approximately $44,000. Finally, Ensign Peak Advisors Inc purchased a new position in shares of Community Trust Bancorp during the 3rd quarter valued at $60,000. 57.90% of the stock is currently owned by hedge funds and other institutional investors.

About Community Trust Bancorp

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Community Trust Bancorp, Inc is a bank holding company, which engages in the provision of community banking services through its subsidiary Community Trust Bank, Inc It offers commercial & personal banking and trust and wealth management activities, which include accepting time and demand deposits, making secured and unsecured loans to corporations, individuals and others, providing cash management services to corporate and individual customers, issuing letters of credit, renting safe deposit boxes, and providing funds transfer services.