Community Trust Bancorp (NASDAQ:CTBI) Sets New 52-Week High – Here’s What Happened

Community Trust Bancorp, Inc. (NASDAQ:CTBI)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $74.52 and last traded at $73.4890, with a volume of 22595 shares traded. The stock had previously closed at $72.36.

Wall Street Analyst Weigh In

CTBI has been the topic of several recent research reports. Piper Sandler began coverage on Community Trust Bancorp in a research report on Thursday, June 11th. They issued a “neutral” rating and a $76.00 price target on the stock. Weiss Ratings raised shares of Community Trust Bancorp from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, May 18th. Finally, Zacks Research downgraded Community Trust Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $68.50.

Community Trust Bancorp Stock Up 2.5%

The firm has a 50-day moving average of $67.30 and a 200 day moving average of $63.16. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of 12.98 and a beta of 0.54. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.08.

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

Community Trust Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Monday, June 15th. Community Trust Bancorp’s dividend payout ratio is 37.13%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. SG Americas Securities LLC increased its holdings in shares of Community Trust Bancorp by 462.8% in the fourth quarter. SG Americas Securities LLC now owns 36,957 shares of the financial services provider’s stock worth $2,088,000 after acquiring an additional 30,390 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Community Trust Bancorp by 24.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 92,224 shares of the financial services provider’s stock worth $5,160,000 after purchasing an additional 18,387 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Community Trust Bancorp by 10.1% in the 3rd quarter. American Century Companies Inc. now owns 452,995 shares of the financial services provider’s stock valued at $25,345,000 after purchasing an additional 41,551 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Community Trust Bancorp in the 4th quarter valued at $1,892,000. Finally, LSV Asset Management lifted its holdings in Community Trust Bancorp by 14.9% during the 4th quarter. LSV Asset Management now owns 280,380 shares of the financial services provider’s stock worth $15,841,000 after buying an additional 36,300 shares during the period. Institutional investors own 60.20% of the company’s stock.

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.