Community Trust Bancorp (NASDAQ:CTBI) Stock Price Crosses Above 200-Day Moving Average – Time to Sell?

Community Trust Bancorp, Inc. (NASDAQ:CTBI) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $69.62 and traded as high as $76.42. Community Trust Bancorp shares last traded at $75.56, with a volume of 82,986 shares.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Raymond James Financial started coverage on Community Trust Bancorp in a report on Tuesday, September 1st. They set an “outperform” rating and a $82.00 target price on the stock. Weiss Ratings upgraded Community Trust Bancorp from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Thursday, August 13th. Piper Sandler increased their price objective on Community Trust Bancorp from $76.00 to $81.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. Finally, Zacks Research lowered Community Trust Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. One equities research 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. According to MarketBeat, Community Trust Bancorp has a consensus rating of “Moderate Buy” and an average price target of $81.50.

Community Trust Bancorp Stock Performance

The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market capitalization of $1.35 billion, a P/E ratio of 12.46 and a beta of 0.52. The business has a 50-day moving average price of $76.98 and a 200 day moving average price of $69.71.

Community Trust Bancorp (NASDAQ:CTBI) last posted its quarterly earnings data 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. The company had revenue of $78.49 million during the quarter, compared to analyst estimates of $76.85 million. Community Trust Bancorp had a return on equity of 12.52% and a net margin of 25.55%. As a group, sell-side analysts forecast that Community Trust Bancorp, Inc. will post 6.41 EPS for the current fiscal year.

Community Trust Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be given a $0.65 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $2.60 annualized dividend and a dividend yield of 3.5%. This is a boost from Community Trust Bancorp’s previous quarterly dividend of $0.53. Community Trust Bancorp’s payout ratio is presently 43.55%.

Insider Transactions at Community Trust Bancorp

In related news, Director Franky Minnifield sold 3,900 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $78.85, for a total value of $307,515.00. Following the transaction, the director owned 8,320 shares in the company, valued at $656,032. The trade was a 31.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Community Trust Bancorp

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in Community Trust Bancorp in the 2nd quarter worth approximately $129,034,000. Lone Peak Global Investors LLC boosted its stake in Community Trust Bancorp by 6.1% during the 2nd quarter. Lone Peak Global Investors LLC now owns 300,504 shares of the financial services provider’s stock valued at $21,744,000 after purchasing an additional 17,388 shares during the last quarter. LSV Asset Management boosted its stake 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 valued at $15,841,000 after purchasing an additional 36,300 shares during the last quarter. Jupiter Topco LLC bought a new stake in shares of Community Trust Bancorp in the 2nd quarter worth $14,956,000. Finally, Janus Henderson Group PLC increased its holdings in shares of Community Trust Bancorp by 114.0% in the 1st quarter. Janus Henderson Group PLC now owns 192,413 shares of the financial services provider’s stock worth $11,684,000 after purchasing an additional 102,488 shares in the last quarter. Hedge funds and other 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. Through its principal subsidiary, Community Trust Bank, the company provides banking and financial services to individuals, businesses, governmental entities and nonprofit organizations.

Its offerings include checking and savings accounts, certificates of deposit, consumer and commercial loans, residential mortgages, credit cards, online and mobile banking, treasury management and other deposit services.