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

Community Trust Bancorp, Inc. (NASDAQ:CTBI)’s share price reached a new 52-week high on Monday . The stock 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 Upgrades and Downgrades

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

Community Trust Bancorp Price Performance

The stock has a market capitalization of $1.42 billion, a PE ratio of 13.16 and a beta of 0.53. 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’s 50-day moving average is $71.46 and its 200 day moving average is $65.77.

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

Community Trust Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be issued a dividend of $0.65 per share. This is a positive change 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 dividend payout ratio is 35.51%.

Institutional Trading of Community Trust Bancorp

A number of institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC increased its position in Community Trust Bancorp by 462.8% in the 4th quarter. SG Americas Securities LLC now owns 36,957 shares of the financial services provider’s stock worth $2,088,000 after purchasing an additional 30,390 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Community Trust Bancorp during the 4th quarter valued at about $1,892,000. Fifth Third Bancorp bought a new stake in shares of Community Trust Bancorp in the 1st quarter valued at approximately $844,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Community Trust Bancorp in the 1st quarter valued at approximately $994,000. Finally, UBS Group AG increased its holdings in Community Trust Bancorp by 10.8% in the fourth quarter. UBS Group AG now owns 97,393 shares of the financial services provider’s stock worth $5,503,000 after buying an additional 9,527 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 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.