Community Trust Bancorp (NASDAQ:CTBI) Sets New 1-Year High – What’s Next?

Community Trust Bancorp, Inc. (NASDAQ:CTBI)’s stock price hit a new 52-week high on Monday . The stock traded as high as $61.67 and last traded at $60.75, with a volume of 12546 shares changing hands. The stock had previously closed at $59.68.

Analyst Ratings Changes

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

Community Trust Bancorp Price Performance

The firm has a fifty day moving average of $52.86 and a 200 day moving average of $48.10. The company has a market capitalization of $1.06 billion, a P/E ratio of 13.46 and a beta of 0.63. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.09.

Community Trust Bancorp (NASDAQ:CTBI) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.08. The business had revenue of $95.38 million for the quarter, compared to analysts’ expectations of $62.00 million. Community Trust Bancorp had a return on equity of 10.93% and a net margin of 21.64%. On average, equities research analysts anticipate that Community Trust Bancorp, Inc. will post 4.56 EPS for the current year.

Community Trust Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Sunday, December 15th will be given a $0.47 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.88 annualized dividend and a yield of 3.19%. Community Trust Bancorp’s payout ratio is 42.73%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Thoroughbred Financial Services LLC purchased a new position in Community Trust Bancorp in the second quarter worth about $2,891,000. Thrivent Financial for Lutherans lifted its position in shares of Community Trust Bancorp by 23.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 80,948 shares of the financial services provider’s stock valued at $4,020,000 after buying an additional 15,619 shares in the last quarter. Creative Planning purchased a new position in shares of Community Trust Bancorp during the 3rd quarter valued at about $498,000. Bank of Montreal Can purchased a new position in shares of Community Trust Bancorp during the 2nd quarter valued at about $764,000. Finally, Clifford Capital Partners LLC lifted its position in shares of Community Trust Bancorp by 7.8% during the 2nd quarter. Clifford Capital Partners LLC now owns 324,515 shares of the financial services provider’s stock valued at $14,168,000 after buying an additional 23,564 shares in the last quarter. 60.20% of the stock is owned by hedge funds and other 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.