Community Trust Bancorp (NASDAQ:CTBI) Sets New 12-Month High Following Earnings Beat

Community Trust Bancorp, Inc. (NASDAQ:CTBI) hit a new 52-week high on Wednesday following a stronger than expected earnings report. The company traded as high as $52.22 and last traded at $52.22, with a volume of 9808 shares changing hands. The stock had previously closed at $50.76.

The financial services provider reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.08. Community Trust Bancorp had a net margin of 21.85% and a return on equity of 11.14%. The company had revenue of $95.38 million during the quarter, compared to the consensus estimate of $62.00 million.

Community Trust Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Sunday, September 15th were given a dividend of $0.47 per share. The ex-dividend date was Friday, September 13th. This represents a $1.88 annualized dividend and a dividend yield of 3.65%. This is a boost from Community Trust Bancorp’s previous quarterly dividend of $0.46. Community Trust Bancorp’s dividend payout ratio (DPR) is currently 43.62%.

Insiders Place Their Bets

In related news, EVP David Andrew Jones bought 10,000 shares of the stock in a transaction dated Monday, July 22nd. The shares were purchased at an average price of $32.27 per share, with a total value of $322,700.00. Following the completion of the acquisition, the executive vice president now owns 10,000 shares of the company’s stock, valued at $322,700. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.30% of the stock is currently owned by corporate insiders.

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 company. Dimensional Fund Advisors LP raised its holdings in shares of Community Trust Bancorp by 1.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,171,419 shares of the financial services provider’s stock worth $51,142,000 after acquiring an additional 12,707 shares in the last quarter. Vanguard Group Inc. raised its stake in Community Trust Bancorp by 1.2% during the first quarter. Vanguard Group Inc. now owns 894,527 shares of the financial services provider’s stock valued at $38,152,000 after purchasing an additional 11,043 shares in the last quarter. Clifford Capital Partners LLC lifted its position in Community Trust Bancorp by 7.8% during the second quarter. Clifford Capital Partners LLC now owns 324,515 shares of the financial services provider’s stock valued at $14,168,000 after purchasing an additional 23,564 shares during the last quarter. LSV Asset Management lifted its position in Community Trust Bancorp by 9.0% during the first quarter. LSV Asset Management now owns 290,157 shares of the financial services provider’s stock valued at $12,375,000 after purchasing an additional 23,890 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Community Trust Bancorp by 20.5% in the 2nd quarter. American Century Companies Inc. now owns 274,759 shares of the financial services provider’s stock worth $11,996,000 after buying an additional 46,745 shares during the last quarter. 60.20% of the stock is owned by institutional investors.

Community Trust Bancorp Price Performance

The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09. The firm’s 50-day moving average price is $48.68 and its 200-day moving average price is $45.32. The stock has a market capitalization of $927.98 million, a PE ratio of 11.94 and a beta of 0.64.

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.