Community Trust Bancorp (NASDAQ:CTBI) Share Price Breaks Below 200 Day Moving Average – Should You Sell?

Shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) crossed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $69.19 and traded as low as $68.67. Community Trust Bancorp shares last traded at $69.11, with a volume of 89,667 shares traded.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Piper Sandler lowered their target price on shares of Community Trust Bancorp from $81.00 to $75.00 and set a “neutral” rating for the company in a report on Thursday, October 22nd. Raymond James Financial assumed coverage on shares of Community Trust Bancorp in a research report on Tuesday, September 1st. They issued an “outperform” rating and a $82.00 price target for the company. Finally, Weiss Ratings downgraded shares of Community Trust Bancorp from a “buy (a)” rating to a “buy (a-)” rating in a research note on Friday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $78.50.

Community Trust Bancorp Stock Performance

The company has a market cap of $1.26 billion, a price-to-earnings ratio of 11.37 and a beta of 0.56. The firm has a 50-day simple moving average of $74.19 and a 200 day simple moving average of $69.19. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.08.

Community Trust Bancorp (NASDAQ:CTBI) last posted its quarterly earnings data on Wednesday, October 21st. The financial services provider reported $1.43 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.22). The firm had revenue of $79.70 million during the quarter, compared to analyst estimates of $80.20 million. Community Trust Bancorp had a net margin of 25.48% and a return on equity of 12.60%. On average, sell-side analysts predict that Community Trust Bancorp, Inc. will post 6.19 earnings per share for the current fiscal year.

Community Trust Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 4th. Shareholders of record on Tuesday, December 15th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Tuesday, December 15th. Community Trust Bancorp’s dividend payout ratio (DPR) is presently 42.76%.

Insider Transactions at Community Trust Bancorp

In other Community Trust Bancorp news, Director Franky Minnifield sold 3,900 shares of Community Trust Bancorp stock in a transaction on 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 directly owned 8,320 shares in the company, valued at approximately $656,032. The trade was a 31.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CTBI. BlackRock Inc. purchased a new stake in shares of Community Trust Bancorp during the second quarter worth approximately $129,034,000. Community Trust & Investment Co. increased its stake in Community Trust Bancorp by 0.9% in the 3rd quarter. Community Trust & Investment Co. now owns 1,013,094 shares of the financial services provider’s stock valued at $75,192,000 after buying an additional 8,687 shares during the period. Lone Peak Global Investors LLC increased its stake in Community Trust Bancorp by 6.1% in 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 buying an additional 17,388 shares during the period. Jupiter Topco LLC acquired a new position in Community Trust Bancorp in the 2nd quarter valued at $14,956,000. Finally, Janus Henderson Group PLC raised its position in Community Trust Bancorp by 114.0% during the 1st quarter. Janus Henderson Group PLC now owns 192,413 shares of the financial services provider’s stock worth $11,684,000 after buying an additional 102,488 shares during the last quarter. 60.20% of the stock is currently owned by hedge funds and other institutional investors.

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 and organizations.

Its products and services include checking and savings accounts, certificates of deposit, consumer and mortgage loans, commercial lending, agricultural financing and other credit products. Community Trust also offers trust and wealth-management services, investment products, insurance and digital banking tools.

Community Trust Bank traces its history to 1903 and has developed a regional banking network serving communities primarily throughout eastern and central Kentucky, as well as portions of southern West Virginia.