Community Trust Bancorp (NASDAQ:CTBI) Sets New 12-Month High – What’s Next?

Community Trust Bancorp, Inc. (NASDAQ:CTBI)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $71.31 and last traded at $71.0550, with a volume of 60136 shares. The stock had previously closed at $70.08.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CTBI shares. Weiss Ratings upgraded shares of Community Trust Bancorp from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, May 18th. Piper Sandler began coverage on shares of Community Trust Bancorp in a research report on Thursday, June 11th. They set a “neutral” rating and a $76.00 price target on the stock. Finally, Zacks Research cut shares of Community Trust Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 16th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Community Trust Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $68.50.

Community Trust Bancorp Trading Up 1.3%

The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $1.29 billion, a P/E ratio of 12.40 and a beta of 0.54. The firm has a 50-day moving average of $66.65 and a two-hundred day moving average of $62.66.

Community Trust Bancorp (NASDAQ:CTBI) last released its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.11. Community Trust Bancorp had a return on equity of 12.27% and a net margin of 24.85%.The business had revenue of $74.20 million for the quarter, compared to analyst estimates of $73.00 million. On average, analysts anticipate that Community Trust Bancorp, Inc. will post 6.13 EPS for the current year.

Community Trust Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Monday, June 15th. Community Trust Bancorp’s dividend payout ratio (DPR) is presently 37.13%.

Hedge Funds Weigh In On Community Trust Bancorp

A number of institutional investors have recently added to or reduced their stakes in CTBI. Assetmark Inc. acquired a new position in shares of Community Trust Bancorp during the fourth quarter worth $27,000. Garton & Associates Financial Advisors LLC bought a new stake in Community Trust Bancorp during the 4th quarter worth $30,000. Quadrant Capital Group LLC acquired a new position in Community Trust Bancorp in the 3rd quarter worth about $86,000. Strs Ohio bought a new position in Community Trust Bancorp in the first quarter valued at about $86,000. Finally, Russell Investments Group Ltd. boosted its stake in shares of Community Trust Bancorp by 478.9% during the third quarter. Russell Investments Group Ltd. now owns 1,650 shares of the financial services provider’s stock valued at $92,000 after purchasing an additional 1,365 shares in the last quarter. 60.20% of the stock is currently owned by institutional investors and hedge funds.

About Community Trust Bancorp

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.