Community Trust Bancorp (NASDAQ:CTBI) Stock Passes Above 200-Day Moving Average – Here’s Why

Community Trust Bancorp, Inc. (NASDAQ:CTBI) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $55.40 and traded as high as $57.59. Community Trust Bancorp shares last traded at $56.91, with a volume of 32,571 shares.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CTBI shares. Raymond James Financial set a $61.00 price target on Community Trust Bancorp in a research report on Wednesday, October 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Community Trust Bancorp in a report on Monday. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $63.50.

Community Trust Bancorp Trading Down 1.4%

The company has a market capitalization of $1.03 billion, a PE ratio of 11.01 and a beta of 0.60. The stock has a fifty day moving average of $55.61 and a two-hundred day moving average of $55.40. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08.

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

Community Trust Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 15th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Monday, December 15th. Community Trust Bancorp’s payout ratio is 41.01%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Northern Trust Corp raised its stake in Community Trust Bancorp by 8.4% in the first quarter. Northern Trust Corp now owns 384,942 shares of the financial services provider’s stock worth $19,386,000 after buying an additional 29,864 shares in the last quarter. Farther Finance Advisors LLC bought a new stake in Community Trust Bancorp during the 2nd quarter valued at approximately $40,000. Prospera Financial Services Inc purchased a new position in shares of Community Trust Bancorp during the 2nd quarter worth approximately $346,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Community Trust Bancorp during the 2nd quarter worth approximately $387,000. Finally, Geode Capital Management LLC raised its position in shares of Community Trust Bancorp by 4.6% in the 2nd quarter. Geode Capital Management LLC now owns 413,312 shares of the financial services provider’s stock worth $21,872,000 after acquiring an additional 17,995 shares in the last quarter. Institutional investors 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.