Community Trust Bancorp (NASDAQ:CTBI) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Community Trust Bancorp, Inc. (NASDAQ:CTBI)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $51.01 and traded as high as $51.32. Community Trust Bancorp shares last traded at $51.11, with a volume of 73,972 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CTBI shares. Raymond James upgraded Community Trust Bancorp from a “market perform” rating to an “outperform” rating and set a $60.00 target price on the stock in a research report on Friday, October 18th. Piper Sandler reaffirmed an “overweight” rating and set a $64.00 price objective on shares of Community Trust Bancorp in a report on Friday, November 8th.

Community Trust Bancorp Price Performance

The company has a debt-to-equity ratio of 0.09, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market capitalization of $897.84 million, a price-to-earnings ratio of 11.30 and a beta of 0.67. The stock has a 50 day moving average price of $56.42 and a 200-day moving average price of $51.07.

Community Trust Bancorp (NASDAQ:CTBI) last released its earnings results on Wednesday, October 16th. The financial services provider reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.08. The business had revenue of $95.38 million during the quarter, compared to analyst estimates of $62.00 million. Community Trust Bancorp had a net margin of 21.64% and a return on equity of 10.93%. On average, analysts forecast that Community Trust Bancorp, Inc. will post 4.56 earnings per share for the current year.

Community Trust Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Sunday, December 15th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date of this dividend was Friday, December 13th. Community Trust Bancorp’s dividend payout ratio (DPR) is 42.73%.

Institutional Investors Weigh In On Community Trust Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its holdings in Community Trust Bancorp by 1.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,171,419 shares of the financial services provider’s stock valued at $51,142,000 after buying an additional 12,707 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Community Trust Bancorp by 1.7% in the third quarter. Geode Capital Management LLC now owns 373,158 shares of the financial services provider’s stock valued at $18,534,000 after purchasing an additional 6,238 shares during the period. Clifford Capital Partners LLC increased its position in Community Trust Bancorp by 7.8% during the second quarter. Clifford Capital Partners LLC now owns 324,515 shares of the financial services provider’s stock worth $14,168,000 after purchasing an additional 23,564 shares during the last quarter. American Century Companies Inc. raised its stake in Community Trust Bancorp by 20.5% during the second quarter. American Century Companies Inc. now owns 274,759 shares of the financial services provider’s stock worth $11,996,000 after purchasing an additional 46,745 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in Community Trust Bancorp by 37.8% in the 2nd quarter. AQR Capital Management LLC now owns 188,707 shares of the financial services provider’s stock valued at $8,239,000 after purchasing an additional 51,765 shares during the last quarter. Institutional investors and hedge funds own 60.20% of the company’s stock.

About Community Trust Bancorp

Community Trust Bancorp, Inc operates as the bank holding company for Community Trust Bank, Inc that engages in the provision of commercial and personal banking, and trust and wealth management services to small and mid-sized communities in eastern, northeastern, central, and south-central Kentucky, as well as southern West Virginia, and northeastern Tennessee.