Community Trust Bancorp (NASDAQ:CTBI) Shares Gap Down – Here’s What Happened

Community Trust Bancorp, Inc. (NASDAQ:CTBI)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $60.98, but opened at $58.71. Community Trust Bancorp shares last traded at $58.8450, with a volume of 2,418 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have weighed in on CTBI shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Community Trust Bancorp in a research note on Monday, December 15th. Raymond James Financial set a $61.00 price target on Community Trust Bancorp in a report on Wednesday, October 15th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $63.50.

Community Trust Bancorp Stock Down 0.1%

The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of 11.36 and a beta of 0.60. The business’s fifty day simple moving average is $54.94 and its 200 day simple moving average is $55.09.

Community Trust Bancorp (NASDAQ:CTBI) last issued its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $1.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.06). Community Trust Bancorp had a net margin of 23.24% and a return on equity of 11.73%. The firm had revenue of $71.50 million for the quarter, compared to analyst estimates of $71.85 million. Equities analysts forecast that Community Trust Bancorp, Inc. will post 5.06 earnings per share for the current fiscal year.

Community Trust Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 15th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.6%. Community Trust Bancorp’s dividend payout ratio (DPR) is currently 41.01%.

Institutional Trading of Community Trust Bancorp

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of Community Trust Bancorp by 4.0% in the first quarter. Vanguard Group Inc. now owns 921,499 shares of the financial services provider’s stock valued at $46,407,000 after buying an additional 35,815 shares during the period. Nuveen LLC acquired a new position in Community Trust Bancorp in the 1st quarter worth $5,210,000. American Century Companies Inc. boosted its stake in Community Trust Bancorp by 9.7% in the 1st quarter. American Century Companies Inc. now owns 384,618 shares of the financial services provider’s stock worth $19,369,000 after purchasing an additional 33,863 shares during the period. Northern Trust Corp raised its stake in shares of Community Trust Bancorp by 8.4% in the 1st quarter. Northern Trust Corp now owns 384,942 shares of the financial services provider’s stock valued at $19,386,000 after purchasing an additional 29,864 shares during the period. Finally, Hsbc Holdings PLC lifted its holdings in shares of Community Trust Bancorp by 60.0% in the first quarter. Hsbc Holdings PLC now owns 12,200 shares of the financial services provider’s stock valued at $620,000 after purchasing an additional 4,576 shares in the last quarter. 60.20% of the stock is currently owned by institutional investors and hedge funds.

Community Trust Bancorp Company Profile

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.