Community Trust Bancorp, Inc. (NASDAQ:CTBI – Get Free Report)’s share price crossed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $70.26 and traded as high as $75.66. Community Trust Bancorp shares last traded at $74.50, with a volume of 133,661 shares traded.
Wall Street Analyst Weigh In
Several analysts have recently commented on the stock. Piper Sandler raised their price objective on shares of Community Trust Bancorp from $76.00 to $81.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. Zacks Research downgraded shares of Community Trust Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. Weiss Ratings raised shares of Community Trust Bancorp from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Thursday, August 13th. Finally, Raymond James Financial began coverage on shares of Community Trust Bancorp in a report on Tuesday, September 1st. They issued an “outperform” rating and a $82.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $81.50.
Read Our Latest Research Report on Community Trust Bancorp
Community Trust Bancorp Price Performance
The business has a 50-day moving average of $76.94 and a 200 day moving average of $70.26. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $1.35 billion, a P/E ratio of 12.48 and a beta of 0.52.
Community Trust Bancorp (NASDAQ:CTBI – Get Free Report) last announced its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.12. Community Trust Bancorp had a return on equity of 12.52% and a net margin of 25.55%.The business had revenue of $78.49 million for the quarter, compared to analyst estimates of $76.85 million. On average, sell-side analysts predict that Community Trust Bancorp, Inc. will post 6.41 earnings per share for the current fiscal year.
Community Trust Bancorp Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This is a positive change from Community Trust Bancorp’s previous quarterly dividend of $0.53. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.5%. Community Trust Bancorp’s payout ratio is currently 43.55%.
Insider Activity
In related news, Director Franky Minnifield sold 3,900 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $78.85, for a total value of $307,515.00. Following the transaction, the director directly owned 8,320 shares in the company, valued at $656,032. This trade represents a 31.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.60% of the stock is currently owned by corporate insiders.
Institutional Trading of Community Trust Bancorp
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in Community Trust Bancorp in the second quarter valued at about $129,034,000. Lone Peak Global Investors LLC increased its stake in shares of Community Trust Bancorp by 6.1% during the 2nd quarter. Lone Peak Global Investors LLC now owns 300,504 shares of the financial services provider’s stock worth $21,744,000 after purchasing an additional 17,388 shares during the last quarter. Jupiter Topco LLC purchased a new stake in shares of Community Trust Bancorp during the 2nd quarter worth approximately $14,956,000. Janus Henderson Group PLC raised its holdings in shares of Community Trust Bancorp by 114.0% in the 1st quarter. Janus Henderson Group PLC now owns 192,413 shares of the financial services provider’s stock worth $11,684,000 after purchasing an additional 102,488 shares during the period. Finally, Heartland Advisors Inc. bought a new stake in shares of Community Trust Bancorp in the 2nd quarter worth approximately $11,882,000. 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. Through its principal subsidiary, Community Trust Bank, the company provides banking and financial services to individuals, businesses, governmental entities and nonprofit organizations.
Its offerings include checking and savings accounts, certificates of deposit, consumer and commercial loans, residential mortgages, credit cards, online and mobile banking, treasury management and other deposit services.
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