Community Trust Bancorp (NASDAQ:CTBI) Shares Pass Above 200 Day Moving Average – Here’s What Happened

Community Trust Bancorp, Inc. (NASDAQ:CTBI) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $52.76 and traded as high as $55.78. Community Trust Bancorp shares last traded at $53.88, with a volume of 50,010 shares traded.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler reaffirmed an “overweight” rating and set a $64.00 price target on shares of Community Trust Bancorp in a research note on Friday, November 8th.

Community Trust Bancorp Price Performance

The stock’s 50 day simple moving average is $54.01 and its 200 day simple moving average is $52.81. The firm has a market capitalization of $972.97 million, a P/E ratio of 11.69 and a beta of 0.67. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.90 and a current ratio of 0.90.

Community Trust Bancorp (NASDAQ:CTBI) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, topping 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 quarter in the prior year, the business posted $1.04 EPS. As a group, analysts expect that Community Trust Bancorp, Inc. will post 5.06 earnings per share for the current fiscal year.

Community Trust Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Saturday, March 15th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date is Friday, March 14th. Community Trust Bancorp’s dividend payout ratio (DPR) is 40.78%.

Institutional Investors Weigh In On Community Trust Bancorp

Several large investors have recently modified their holdings of the business. US Bancorp DE increased its holdings in Community Trust Bancorp by 311.8% during the fourth quarter. US Bancorp DE now owns 560 shares of the financial services provider’s stock valued at $30,000 after buying an additional 424 shares during the period. Federated Hermes Inc. bought a new stake in Community Trust Bancorp during the 4th quarter valued at $46,000. Quantbot Technologies LP purchased a new position in shares of Community Trust Bancorp in the 3rd quarter valued at $63,000. New York State Teachers Retirement System purchased a new position in shares of Community Trust Bancorp in the 4th quarter valued at $75,000. Finally, Coastline Trust Co bought a new position in shares of Community Trust Bancorp in the 3rd quarter worth $79,000. 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.