Community Trust Bancorp (NASDAQ:CTBI) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Community Trust Bancorp, Inc. (NASDAQ:CTBI)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $51.01 and traded as high as $51.32. Community Trust Bancorp shares last traded at $51.11, with a volume of 73,972 shares traded.

Wall Street Analysts Forecast Growth

CTBI has been the subject of several research reports. Piper Sandler reissued an “overweight” rating and set a $64.00 price objective on shares of Community Trust Bancorp in a research note on Friday, November 8th. Raymond James upgraded Community Trust Bancorp from a “market perform” rating to an “outperform” rating and set a $60.00 price target for the company in a research note on Friday, October 18th.

Community Trust Bancorp Stock Down 2.7 %

The firm’s 50-day moving average price is $56.42 and its 200-day moving average price is $51.07. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market cap of $897.84 million, a price-to-earnings ratio of 11.30 and a beta of 0.67.

Community Trust Bancorp (NASDAQ:CTBI) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.15 by $0.08. Community Trust Bancorp had a return on equity of 10.93% and a net margin of 21.64%. The company had revenue of $95.38 million for the quarter, compared to analyst estimates of $62.00 million. Sell-side analysts forecast that Community Trust Bancorp, Inc. will post 4.56 earnings per share for the current fiscal year.

Community Trust Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Sunday, December 15th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.78%. The ex-dividend date was Friday, December 13th. Community Trust Bancorp’s dividend payout ratio (DPR) is presently 42.73%.

Institutional Trading of Community Trust Bancorp

Hedge funds have recently made changes to their positions in the company. Quantbot Technologies LP purchased a new position in shares of Community Trust Bancorp in the third quarter valued at $63,000. Coastline Trust Co acquired a new position in Community Trust Bancorp in the 3rd quarter worth $79,000. CWM LLC boosted its position in Community Trust Bancorp by 12.2% in the 3rd quarter. CWM LLC now owns 2,918 shares of the financial services provider’s stock valued at $145,000 after buying an additional 317 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Community Trust Bancorp during the third quarter valued at about $209,000. Finally, BNP Paribas Financial Markets increased its position in shares of Community Trust Bancorp by 33.7% during the third quarter. BNP Paribas Financial Markets now owns 4,285 shares of the financial services provider’s stock worth $213,000 after acquiring an additional 1,079 shares during the last quarter. 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.