Community Trust Bancorp (NASDAQ:CTBI) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Community Trust Bancorp, Inc. (NASDAQ:CTBI) passed 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.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Raymond James upgraded Community Trust Bancorp from a “market perform” rating to an “outperform” rating and set a $60.00 target price on the stock in a research note on Friday, October 18th. Piper Sandler restated an “overweight” rating and issued a $64.00 target price on shares of Community Trust Bancorp in a research note 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 business has a 50 day moving average price of $54.45 and a two-hundred day moving average price of $52.49. The stock has a market cap of $1.01 billion, a PE ratio of 12.08 and a beta of 0.67.

Community Trust Bancorp (NASDAQ:CTBI) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.25 EPS for the quarter, beating the consensus estimate of $1.20 by $0.05. Community Trust Bancorp had a return on equity of 11.36% and a net margin of 22.02%. During the same period in the prior year, the business earned $1.04 EPS. Research analysts expect that Community Trust Bancorp, Inc. will post 5.06 earnings per share for the current fiscal year.

Community Trust Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Saturday, March 15th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.88 annualized dividend and a yield of 3.38%. Community Trust Bancorp’s payout ratio is 40.78%.

Hedge Funds Weigh In On Community Trust Bancorp

Several institutional investors have recently bought and sold shares of CTBI. The Manufacturers Life Insurance Company raised its holdings in Community Trust Bancorp by 4.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,112 shares of the financial services provider’s stock valued at $267,000 after acquiring an additional 234 shares during the period. LPL Financial LLC raised its holdings in Community Trust Bancorp by 6.6% during the 4th quarter. LPL Financial LLC now owns 4,964 shares of the financial services provider’s stock valued at $263,000 after acquiring an additional 307 shares during the period. CWM LLC raised its holdings in Community Trust Bancorp by 12.2% during the 3rd quarter. CWM LLC now owns 2,918 shares of the financial services provider’s stock valued at $145,000 after acquiring an additional 317 shares during the period. US Bancorp DE increased its holdings in shares of Community Trust Bancorp by 311.8% in the fourth quarter. US Bancorp DE now owns 560 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 424 shares during the period. Finally, Sterling Capital Management LLC increased its holdings in shares of Community Trust Bancorp by 5.6% in the fourth quarter. Sterling Capital Management LLC now owns 8,343 shares of the financial services provider’s stock worth $442,000 after purchasing an additional 440 shares during the period. Hedge funds and other institutional investors own 60.20% of the company’s stock.

About Community Trust Bancorp

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.