Community Trust Bancorp (NASDAQ:CTBI) Reaches New 1-Year High After Strong Earnings

Shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) reached a new 52-week high on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $66.00 and last traded at $64.5550, with a volume of 2197 shares. The stock had previously closed at $64.42.

The financial services provider reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.11. The company had revenue of $74.20 million during the quarter, compared to analysts’ expectations of $73.00 million. Community Trust Bancorp had a net margin of 23.95% and a return on equity of 11.96%.

Community Trust Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Sunday, March 15th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Friday, March 13th. Community Trust Bancorp’s dividend payout ratio (DPR) is currently 39.04%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Community Trust Bancorp in a report on Friday, March 27th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $63.50.

Institutional Trading of Community Trust Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Assetmark Inc. acquired a new stake in shares of Community Trust Bancorp during the 4th quarter worth approximately $27,000. Garton & Associates Financial Advisors LLC bought a new stake in Community Trust Bancorp during the fourth quarter worth $30,000. State of Alaska Department of Revenue bought a new stake in Community Trust Bancorp during the third quarter worth $40,000. Farther Finance Advisors LLC boosted its holdings in shares of Community Trust Bancorp by 51.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,148 shares of the financial services provider’s stock valued at $64,000 after purchasing an additional 390 shares in the last quarter. Finally, Quadrant Capital Group LLC acquired a new stake in shares of Community Trust Bancorp in the 3rd quarter valued at $86,000. Institutional investors own 60.20% of the company’s stock.

Community Trust Bancorp Stock Performance

The company has a 50 day moving average price of $61.72 and a 200-day moving average price of $58.33. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.08. The company has a market cap of $1.17 billion, a P/E ratio of 11.95 and a beta of 0.53.

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.