Community Trust Bancorp (NASDAQ:CTBI) Sets New 12-Month High – What’s Next?

Shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) reached a new 52-week high during trading on Monday . The company traded as high as $71.28 and last traded at $70.16, with a volume of 100608 shares. The stock had previously closed at $70.65.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CTBI. Zacks Research upgraded shares of Community Trust Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 24th. Weiss Ratings upgraded shares of Community Trust Bancorp from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, May 18th. Finally, Piper Sandler began coverage on shares of Community Trust Bancorp in a research report on Thursday. They issued a “neutral” rating and a $76.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $68.50.

Community Trust Bancorp Stock Down 1.7%

The firm has a 50-day simple moving average of $65.88 and a 200 day simple moving average of $62.03. The stock has a market capitalization of $1.27 billion, a P/E ratio of 12.29 and a beta of 0.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.92 and a quick ratio of 0.92.

Community Trust Bancorp (NASDAQ:CTBI) last released its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.11. The company had revenue of $74.20 million during the quarter, compared to the consensus estimate of $73.00 million. Community Trust Bancorp had a return on equity of 12.27% and a net margin of 24.85%. On average, equities research analysts forecast that Community Trust Bancorp, Inc. will post 6.13 EPS for the current year.

Community Trust Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Monday, June 15th. Community Trust Bancorp’s payout ratio is presently 37.13%.

Hedge Funds Weigh In On Community Trust Bancorp

Several large investors have recently modified their holdings of CTBI. Thrivent Financial for Lutherans lifted its holdings in shares of Community Trust Bancorp by 0.3% during the fourth quarter. Thrivent Financial for Lutherans now owns 55,617 shares of the financial services provider’s stock worth $3,143,000 after purchasing an additional 163 shares during the period. CANADA LIFE ASSURANCE Co increased its holdings in Community Trust Bancorp by 7.6% in the second quarter. CANADA LIFE ASSURANCE Co now owns 2,958 shares of the financial services provider’s stock valued at $156,000 after purchasing an additional 208 shares during the period. BTC Capital Management Inc. increased its holdings in Community Trust Bancorp by 4.0% in the first quarter. BTC Capital Management Inc. now owns 9,139 shares of the financial services provider’s stock valued at $555,000 after purchasing an additional 350 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Community Trust Bancorp by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,122 shares of the financial services provider’s stock worth $459,000 after purchasing an additional 381 shares during the last quarter. Finally, Prospera Financial Services Inc raised its position in Community Trust Bancorp by 6.8% during the 3rd quarter. Prospera Financial Services Inc now owns 6,983 shares of the financial services provider’s stock worth $391,000 after purchasing an additional 447 shares during the last quarter. Institutional investors own 60.20% of the company’s stock.

Community Trust Bancorp Company Profile

Community Trust Bancorp, Inc is a bank holding company headquartered in Pikeville, Kentucky. As the parent of Community Trust Bank, the company provides a comprehensive range of banking services to individuals, families and businesses throughout eastern Kentucky, southern West Virginia and northeast Tennessee. With origins dating back to the early 20th century, the organization has built a reputation for supporting community development and regional economic growth across the Appalachian region.

The company’s personal banking offerings include checking and savings accounts, consumer installment loans, home equity and mortgage lending, as well as online and mobile banking platforms.