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

Community Trust Bancorp, Inc. (NASDAQ:CTBI) shares reached a new 52-week high on Monday . The company traded as high as $71.28 and last traded at $70.16, with a volume of 100608 shares traded. The stock had previously closed at $70.65.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CTBI. Zacks Research raised shares of Community Trust Bancorp from a “hold” rating to a “strong-buy” rating in a report on Friday, April 24th. Piper Sandler assumed coverage on shares of Community Trust Bancorp in a report on Thursday. They set a “neutral” rating and a $76.00 target price on the stock. Finally, 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. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $68.50.

Community Trust Bancorp Price Performance

The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 12.29 and a beta of 0.54. The business’s 50 day simple moving average is $65.88 and its 200-day simple moving average is $62.03.

Community Trust Bancorp (NASDAQ:CTBI) last issued 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. Community Trust Bancorp had a net margin of 24.85% and a return on equity of 12.27%. The company had revenue of $74.20 million during the quarter, compared to analysts’ expectations of $73.00 million. On average, research analysts forecast that Community Trust Bancorp, Inc. will post 6.13 earnings per share for the current year.

Community Trust Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 3.0%. The ex-dividend date is Monday, June 15th. Community Trust Bancorp’s payout ratio is currently 37.13%.

Institutional Investors Weigh In On Community Trust Bancorp

Large investors have recently modified their holdings of the business. Thrivent Financial for Lutherans increased its stake in shares of Community Trust Bancorp by 0.3% in the 4th quarter. Thrivent Financial for Lutherans now owns 55,617 shares of the financial services provider’s stock valued at $3,143,000 after purchasing an additional 163 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its position in shares of Community Trust Bancorp by 7.6% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 2,958 shares of the financial services provider’s stock worth $156,000 after buying an additional 208 shares during the last quarter. BTC Capital Management Inc. boosted its stake in Community Trust Bancorp by 4.0% in the first quarter. BTC Capital Management Inc. now owns 9,139 shares of the financial services provider’s stock valued at $555,000 after buying an additional 350 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Community Trust Bancorp by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,122 shares of the financial services provider’s stock valued at $459,000 after buying an additional 381 shares in the last quarter. Finally, Prospera Financial Services Inc boosted its stake in Community Trust Bancorp by 6.8% in the third quarter. Prospera Financial Services Inc now owns 6,983 shares of the financial services provider’s stock valued at $391,000 after buying an additional 447 shares in the last quarter. Institutional investors and hedge funds 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.