Community Trust Bancorp (NASDAQ:CTBI) Sets New 1-Year High – Here’s What Happened

Community Trust Bancorp, Inc. (NASDAQ:CTBI) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $61.67 and last traded at $60.75, with a volume of 12546 shares. The stock had previously closed at $59.68.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CTBI. Piper Sandler reiterated an “overweight” rating and issued a $64.00 price target on shares of Community Trust Bancorp in a research report on Friday, November 8th. Raymond James upgraded Community Trust Bancorp from a “market perform” rating to an “outperform” rating and set a $60.00 target price on the stock in a report on Friday, October 18th.

Community Trust Bancorp Trading Up 0.7 %

The business’s fifty day moving average price is $52.45 and its 200 day moving average price is $47.89. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $1.08 billion, a PE ratio of 13.83 and a beta of 0.63.

Community Trust Bancorp (NASDAQ:CTBI) last released its earnings results on Wednesday, October 16th. The financial services provider reported $1.23 EPS for the quarter, topping the consensus estimate of $1.15 by $0.08. Community Trust Bancorp had a net margin of 21.64% and a return on equity of 10.93%. The firm had revenue of $95.38 million during the quarter, compared to analysts’ expectations of $62.00 million. As a group, analysts expect that Community Trust Bancorp, Inc. will post 4.56 EPS for the current fiscal year.

Community Trust Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Sunday, December 15th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.88 annualized dividend and a yield of 3.13%. Community Trust Bancorp’s dividend payout ratio (DPR) is presently 42.73%.

Institutional Investors Weigh In On Community Trust Bancorp

Several hedge funds have recently modified their holdings of CTBI. Geode Capital Management LLC grew its position in Community Trust Bancorp by 1.7% during the third quarter. Geode Capital Management LLC now owns 373,158 shares of the financial services provider’s stock valued at $18,534,000 after acquiring an additional 6,238 shares during the period. Barclays PLC lifted its stake in shares of Community Trust Bancorp by 45.8% in the 3rd quarter. Barclays PLC now owns 50,376 shares of the financial services provider’s stock valued at $2,502,000 after purchasing an additional 15,832 shares in the last quarter. Kovitz Investment Group Partners LLC purchased a new stake in shares of Community Trust Bancorp during the 3rd quarter worth about $786,000. Point72 Asset Management L.P. purchased a new stake in shares of Community Trust Bancorp during the 3rd quarter worth about $282,000. Finally, Martingale Asset Management L P increased its position in Community Trust Bancorp by 9.6% during the 3rd quarter. Martingale Asset Management L P now owns 43,078 shares of the financial services provider’s stock worth $2,139,000 after purchasing an additional 3,780 shares in the last quarter. 60.20% of the stock is owned by institutional investors and hedge funds.

Community Trust Bancorp Company Profile

Community Trust Bancorp, Inc operates as the bank holding company for Community Trust Bank, Inc that engages in the provision of commercial and personal banking, and trust and wealth management services to small and mid-sized communities in eastern, northeastern, central, and south-central Kentucky, as well as southern West Virginia, and northeastern Tennessee.