Community Trust Bancorp (NASDAQ:CTBI) Hits New 12-Month High at $46.16

Shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) hit a new 52-week high during trading on Monday . The company traded as high as $46.16 and last traded at $46.00, with a volume of 37073 shares traded. The stock had previously closed at $44.90.

Wall Street Analyst Weigh In

Separately, Janney Montgomery Scott began coverage on Community Trust Bancorp in a research report on Wednesday, March 27th. They issued a “buy” rating and a $49.00 price objective for the company.

Community Trust Bancorp Stock Performance

The stock has a 50-day moving average of $42.49 and a 200 day moving average of $41.58. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market capitalization of $830.10 million, a price-to-earnings ratio of 10.67 and a beta of 0.66.

Community Trust Bancorp (NASDAQ:CTBI) last issued its earnings results on Wednesday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.06. Community Trust Bancorp had a return on equity of 11.36% and a net margin of 22.64%. The firm had revenue of $59.02 million for the quarter, compared to analysts’ expectations of $56.51 million. On average, analysts expect that Community Trust Bancorp, Inc. will post 4.18 EPS for the current year.

Community Trust Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Saturday, June 15th were issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date of this dividend was Friday, June 14th. Community Trust Bancorp’s dividend payout ratio (DPR) is currently 42.69%.

Hedge Funds Weigh In On Community Trust Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC boosted its holdings in Community Trust Bancorp by 77.8% during the fourth quarter. Parallel Advisors LLC now owns 704 shares of the financial services provider’s stock worth $31,000 after buying an additional 308 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Community Trust Bancorp by 5.2% during the 4th quarter. Victory Capital Management Inc. now owns 8,605 shares of the financial services provider’s stock valued at $377,000 after purchasing an additional 428 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Community Trust Bancorp by 4.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,484 shares of the financial services provider’s stock valued at $618,000 after purchasing an additional 631 shares in the last quarter. Equitable Trust Co. lifted its holdings in shares of Community Trust Bancorp by 7.2% during the 4th quarter. Equitable Trust Co. now owns 9,680 shares of the financial services provider’s stock valued at $425,000 after purchasing an additional 647 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of Community Trust Bancorp by 26.9% during the 1st quarter. SG Americas Securities LLC now owns 3,161 shares of the financial services provider’s stock valued at $135,000 after purchasing an additional 671 shares in the last quarter. Institutional investors own 60.20% of the company’s stock.

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.