Community Trust Bancorp (NASDAQ:CTBI) Sees Strong Trading Volume – Here’s Why

Community Trust Bancorp, Inc. (NASDAQ:CTBI) shares saw strong trading volume on Thursday . 50,521 shares traded hands during mid-day trading, a decline of 19% from the previous session’s volume of 62,456 shares.The stock last traded at $59.3750 and had previously closed at $58.11.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Community Trust Bancorp in a report on Monday, December 29th. Raymond James Financial set a $61.00 price target on Community Trust Bancorp in a report on Wednesday, October 15th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $63.50.

Community Trust Bancorp Price Performance

The company has a market capitalization of $1.09 billion, a PE ratio of 11.66 and a beta of 0.58. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.93 and a quick ratio of 0.93. The stock’s 50 day simple moving average is $56.79 and its 200-day simple moving average is $55.84.

Community Trust Bancorp (NASDAQ:CTBI) last released its earnings results on Wednesday, October 15th. The financial services provider reported $1.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.06). The business had revenue of $71.50 million for the quarter, compared to analyst estimates of $71.85 million. Community Trust Bancorp had a return on equity of 11.73% and a net margin of 23.24%. As a group, equities analysts forecast that Community Trust Bancorp, Inc. will post 5.06 earnings per share for the current fiscal year.

Community Trust Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 15th were issued a $0.53 dividend. The ex-dividend date was Monday, December 15th. This represents a $2.12 dividend on an annualized basis and a yield of 3.5%. Community Trust Bancorp’s dividend payout ratio (DPR) is 41.01%.

Institutional Investors Weigh In On Community Trust Bancorp

A number of hedge funds have recently bought and sold shares of CTBI. SG Americas Securities LLC raised its holdings in Community Trust Bancorp by 462.8% in the fourth quarter. SG Americas Securities LLC now owns 36,957 shares of the financial services provider’s stock valued at $2,088,000 after acquiring an additional 30,390 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Community Trust Bancorp by 24.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 92,224 shares of the financial services provider’s stock valued at $5,160,000 after purchasing an additional 18,387 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of Community Trust Bancorp by 1.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 48,285 shares of the financial services provider’s stock valued at $2,702,000 after purchasing an additional 712 shares in the last quarter. Virtus Advisers LLC purchased a new stake in shares of Community Trust Bancorp during the 3rd quarter worth $142,000. Finally, Voleon Capital Management LP acquired a new position in shares of Community Trust Bancorp during the third quarter worth $217,000. 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.