Community Trust Bancorp (NASDAQ:CTBI) Sets New 12-Month High – Time to Buy?

Shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) reached a new 52-week high on Monday . The company traded as high as $79.60 and last traded at $79.4890, with a volume of 7640 shares traded. The stock had previously closed at $78.45.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Raymond James Financial reiterated an “outperform” rating and set a $82.00 target price on shares of Community Trust Bancorp in a research report on Thursday, July 16th. Zacks Research cut shares of Community Trust Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 16th. Weiss Ratings downgraded shares of Community Trust Bancorp from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday. Finally, Piper Sandler lifted their price objective on shares of Community Trust Bancorp from $76.00 to $81.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $81.50.

Community Trust Bancorp Stock Performance

The company has a market cap of $1.44 billion, a P/E ratio of 13.31 and a beta of 0.53. The firm has a 50 day moving average of $71.95 and a 200-day moving average of $66.07. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.08.

Community Trust Bancorp (NASDAQ:CTBI) last released its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $1.64 EPS for the quarter, topping the consensus estimate of $1.52 by $0.12. The company had revenue of $78.49 million for the quarter, compared to the consensus estimate of $76.85 million. Community Trust Bancorp had a return on equity of 12.66% and a net margin of 25.55%. As a group, sell-side analysts anticipate that Community Trust Bancorp, Inc. will post 6.41 EPS for the current fiscal year.

Community Trust Bancorp Increases Dividend

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

Institutional Trading of Community Trust Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in the company. Assetmark Inc. purchased a new stake in Community Trust Bancorp in the fourth quarter worth about $27,000. Garton & Associates Financial Advisors LLC purchased a new position in Community Trust Bancorp during the 4th quarter valued at about $30,000. Quadrant Capital Group LLC purchased a new position in Community Trust Bancorp during the 3rd quarter valued at about $86,000. Strs Ohio bought a new stake in shares of Community Trust Bancorp in the 1st quarter valued at about $86,000. Finally, Russell Investments Group Ltd. raised its holdings 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 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.

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.