Community Trust Bancorp (NASDAQ:CTBI) Sets New 1-Year High – What’s Next?

Community Trust Bancorp, Inc. (NASDAQ:CTBI)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $78.03 and last traded at $78.2850, with a volume of 24334 shares changing hands. The stock had previously closed at $76.66.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CTBI shares. Weiss Ratings upgraded Community Trust Bancorp from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, May 18th. Raymond James Financial restated an “outperform” rating and issued a $82.00 target price on shares of Community Trust Bancorp in a research note on Thursday, July 16th. Piper Sandler lifted their price target on Community Trust Bancorp from $76.00 to $81.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. Finally, Zacks Research cut Community Trust Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 16th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Community Trust Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $81.50.

Community Trust Bancorp Price Performance

The company has a debt-to-equity ratio of 0.08, a current ratio of 0.92 and a quick ratio of 0.92. The firm’s 50 day moving average is $71.01 and its 200 day moving average is $65.48. The firm has a market cap of $1.42 billion, a P/E ratio of 13.12 and a beta of 0.54.

Community Trust Bancorp (NASDAQ:CTBI) last announced its earnings results on Wednesday, July 15th. The financial services provider reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.12. Community Trust Bancorp had a net margin of 25.55% and a return on equity of 12.66%. The business had revenue of $78.49 million during the quarter, compared to the consensus estimate of $76.85 million. As a group, analysts anticipate that Community Trust Bancorp, Inc. will post 6.41 earnings per share for the current year.

Community Trust Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Tuesday, September 15th. This is an increase from Community Trust Bancorp’s previous quarterly dividend of $0.53. Community Trust Bancorp’s dividend payout ratio (DPR) is currently 35.51%.

Institutional Inflows and Outflows

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