Community Trust Bancorp (NASDAQ:CTBI) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Community Trust Bancorp, Inc. (NASDAQ:CTBI) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $52.49 and traded as high as $55.72. Community Trust Bancorp shares last traded at $55.68, with a volume of 47,071 shares changing hands.

Wall Street Analysts Forecast Growth

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

Community Trust Bancorp Stock Performance

The company has a 50-day moving average price of $54.45 and a two-hundred day moving average price of $52.49. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $1.01 billion, a P/E ratio of 12.08 and a beta of 0.67.

Community Trust Bancorp (NASDAQ:CTBI) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.05. Community Trust Bancorp had a return on equity of 11.36% and a net margin of 22.02%. During the same period last year, the business posted $1.04 earnings per share. On average, equities analysts forecast that Community Trust Bancorp, Inc. will post 5.06 earnings per share for the current year.

Community Trust Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Saturday, March 15th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date is Friday, March 14th. Community Trust Bancorp’s dividend payout ratio is currently 40.78%.

Institutional Trading of Community Trust Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd bought a new stake in Community Trust Bancorp during the 4th quarter worth approximately $390,000. Barclays PLC increased its holdings in Community Trust Bancorp by 5.7% during the 4th quarter. Barclays PLC now owns 53,248 shares of the financial services provider’s stock worth $2,824,000 after purchasing an additional 2,872 shares in the last quarter. Keystone Financial Group bought a new stake in Community Trust Bancorp during the 4th quarter worth approximately $571,000. Sterling Capital Management LLC increased its holdings in Community Trust Bancorp by 5.6% during the 4th quarter. Sterling Capital Management LLC now owns 8,343 shares of the financial services provider’s stock worth $442,000 after purchasing an additional 440 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Community Trust Bancorp during the 4th quarter worth approximately $1,860,000. 60.20% of the stock is owned by institutional investors.

About Community Trust Bancorp

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.