Community Trust Bancorp (NASDAQ:CTBI) Stock Price Passes Above 200-Day Moving Average of $40.95

Community Trust Bancorp, Inc. (NASDAQ:CTBI)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $40.95 and traded as high as $44.08. Community Trust Bancorp shares last traded at $43.83, with a volume of 29,190 shares.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Janney Montgomery Scott initiated coverage on Community Trust Bancorp in a research note on Wednesday, March 27th. They issued a “buy” rating and a $49.00 price objective for the company. Piper Sandler initiated coverage on Community Trust Bancorp in a report on Friday, February 16th. They set an “overweight” rating and a $47.00 target price on the stock.

Community Trust Bancorp Stock Performance

The stock has a market capitalization of $789.82 million, a price-to-earnings ratio of 10.17 and a beta of 0.68. The firm has a fifty day moving average of $41.01 and a 200 day moving average of $40.95. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.87 and a quick ratio of 0.87.

Community Trust Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Saturday, June 15th will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 4.20%. The ex-dividend date is Friday, June 14th. Community Trust Bancorp’s payout ratio is 42.69%.

Insider Activity

In related news, Director Franky Minnifield purchased 2,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was bought at an average price of $39.28 per share, with a total value of $78,560.00. Following the acquisition, the director now owns 14,401 shares in the company, valued at $565,671.28. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have acquired 2,602 shares of company stock worth $102,359 in the last quarter. Corporate insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Community Trust Bancorp

Several institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC raised its holdings in shares of Community Trust Bancorp by 26.9% during the first quarter. SG Americas Securities LLC now owns 3,161 shares of the financial services provider’s stock valued at $135,000 after acquiring an additional 671 shares during the last quarter. Empowered Funds LLC boosted its stake in Community Trust Bancorp by 8.0% during the 1st quarter. Empowered Funds LLC now owns 56,904 shares of the financial services provider’s stock worth $2,427,000 after purchasing an additional 4,200 shares during the last quarter. LSV Asset Management raised its holdings in shares of Community Trust Bancorp by 9.0% during the 1st quarter. LSV Asset Management now owns 290,157 shares of the financial services provider’s stock worth $12,375,000 after acquiring an additional 23,890 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of Community Trust Bancorp by 86.9% during the 1st quarter. BNP Paribas Financial Markets now owns 7,691 shares of the financial services provider’s stock worth $328,000 after acquiring an additional 3,577 shares during the period. Finally, Hennion & Walsh Asset Management Inc. raised its holdings in shares of Community Trust Bancorp by 12.8% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 12,015 shares of the financial services provider’s stock worth $512,000 after acquiring an additional 1,367 shares during the period. 60.20% of the stock is currently 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.