Community Trust Bancorp (NASDAQ:CTBI) Share Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Community Trust Bancorp, Inc. (NASDAQ:CTBI)’s share price passed 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 traded.

Analyst Upgrades and Downgrades

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

Community Trust Bancorp Stock Performance

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 firm’s 50-day moving average is $54.33 and its two-hundred day moving average is $52.54. The stock has a market cap of $1.00 billion, a price-to-earnings ratio of 12.04 and a beta of 0.67.

Community Trust Bancorp (NASDAQ:CTBI) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.05. Community Trust Bancorp had a net margin of 22.02% and a return on equity of 11.36%. During the same quarter in the prior year, the firm posted $1.04 earnings per share. As a group, sell-side analysts expect that Community Trust Bancorp, Inc. will post 5.06 earnings per share for the current year.

Community Trust Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Saturday, March 15th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.88 annualized dividend and a dividend yield of 3.39%. Community Trust Bancorp’s dividend payout ratio (DPR) is presently 40.78%.

Institutional Trading of Community Trust Bancorp

A number of hedge funds have recently bought and sold shares of CTBI. US Bancorp DE raised its holdings in Community Trust Bancorp by 311.8% in the 4th quarter. US Bancorp DE now owns 560 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 424 shares during the last quarter. Federated Hermes Inc. acquired a new stake in Community Trust Bancorp in the 4th quarter valued at about $46,000. Quantbot Technologies LP acquired a new stake in Community Trust Bancorp in the 3rd quarter valued at about $63,000. New York State Teachers Retirement System acquired a new stake in Community Trust Bancorp in the 4th quarter valued at about $75,000. Finally, Coastline Trust Co acquired a new stake in Community Trust Bancorp in the 3rd quarter valued at about $79,000. Institutional investors and hedge funds 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.