Community Trust Bancorp (NASDAQ:CTBI) Stock Passes Above 200-Day Moving Average – Time to Sell?

Community Trust Bancorp, Inc. (NASDAQ:CTBI) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $57.19 and traded as high as $63.61. Community Trust Bancorp shares last traded at $63.57, with a volume of 62,013 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Community Trust Bancorp in a report on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Community Trust Bancorp presently has a consensus rating of “Buy” and an average target price of $63.50.

Community Trust Bancorp Trading Up 1.8%

The company’s 50 day simple moving average is $60.58 and its 200-day simple moving average is $57.19. The firm has a market cap of $1.15 billion, a P/E ratio of 11.71 and a beta of 0.58. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.08.

Community Trust Bancorp (NASDAQ:CTBI) last issued its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.08. Community Trust Bancorp had a return on equity of 12.14% and a net margin of 23.95%.The firm had revenue of $74.72 million for the quarter, compared to the consensus estimate of $73.15 million. As a group, research analysts predict that Community Trust Bancorp, Inc. will post 5.06 earnings per share for the current fiscal year.

Community Trust Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Sunday, March 15th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Friday, March 13th. Community Trust Bancorp’s dividend payout ratio (DPR) is 39.04%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Prospera Financial Services Inc purchased a new position in shares of Community Trust Bancorp during the second quarter worth approximately $346,000. Y Intercept Hong Kong Ltd purchased a new position in Community Trust Bancorp during the 2nd quarter worth $387,000. Geode Capital Management LLC raised its position in Community Trust Bancorp by 4.6% during the 2nd quarter. Geode Capital Management LLC now owns 413,312 shares of the financial services provider’s stock valued at $21,872,000 after purchasing an additional 17,995 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Community Trust Bancorp by 7.0% in the 2nd quarter. American Century Companies Inc. now owns 411,444 shares of the financial services provider’s stock worth $21,774,000 after buying an additional 26,826 shares during the period. Finally, D.A. Davidson & CO. purchased a new stake in shares of Community Trust Bancorp in the 2nd quarter worth $326,000. Hedge funds and other institutional investors own 60.20% of the company’s stock.

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.