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

Shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $64.80 and traded as high as $75.15. Community Trust Bancorp shares last traded at $74.19, with a volume of 91,788 shares.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CTBI. Zacks Research cut Community Trust Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 16th. Piper Sandler upped their price target on Community Trust Bancorp from $76.00 to $81.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Raymond James Financial restated an “outperform” rating and issued a $82.00 price objective on shares of Community Trust Bancorp in a report on Thursday, July 16th. Finally, Weiss Ratings upgraded Community Trust Bancorp from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $81.50.

Community Trust Bancorp Trading Up 1.9%

The business’s 50-day moving average is $70.04 and its two-hundred day moving average is $64.93. 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 stock has a market capitalization of $1.38 billion, a PE ratio of 12.76 and a beta of 0.54.

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

Community Trust Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th were given a $0.53 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $2.12 annualized dividend and a yield of 2.8%. Community Trust Bancorp’s dividend payout ratio (DPR) is 35.51%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CTBI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Community Trust Bancorp by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,122 shares of the financial services provider’s stock valued at $459,000 after purchasing an additional 381 shares during the period. Millennium Management LLC grew its stake in Community Trust Bancorp by 116.4% in the first quarter. Millennium Management LLC now owns 100,651 shares of the financial services provider’s stock worth $5,069,000 after purchasing an additional 54,130 shares in the last quarter. Jane Street Group LLC grew its position in shares of Community Trust Bancorp by 158.5% in the 1st quarter. Jane Street Group LLC now owns 28,493 shares of the financial services provider’s stock worth $1,435,000 after acquiring an additional 17,470 shares in the last quarter. Strs Ohio bought a new stake in Community Trust Bancorp during the first quarter valued at $86,000. Finally, Rhumbline Advisers boosted its holdings in shares of Community Trust Bancorp by 4.5% in the 2nd quarter. Rhumbline Advisers now owns 24,696 shares of the financial services provider’s stock valued at $1,307,000 after buying an additional 1,074 shares during the period. 60.20% of the stock is owned by institutional investors and hedge funds.

Community Trust Bancorp Company Profile

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.