Community Trust Bancorp (NASDAQ:CTBI) Sees Unusually-High Trading Volume – What’s Next?

Shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) saw strong trading volume on Thursday . 50,521 shares traded hands during mid-day trading, a decline of 19% from the previous session’s volume of 62,456 shares.The stock last traded at $59.3750 and had previously closed at $58.11.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CTBI. Raymond James Financial set a $61.00 target price on Community Trust Bancorp in a report on Wednesday, October 15th. Weiss Ratings reissued a “buy (b)” rating on shares of Community Trust Bancorp in a report on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $63.50.

Community Trust Bancorp Stock Performance

The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a market capitalization of $1.08 billion, a P/E ratio of 11.53 and a beta of 0.58. The business’s fifty day moving average price is $57.07 and its two-hundred day moving average price is $55.92.

Community Trust Bancorp (NASDAQ:CTBI) last announced its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $1.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.06). Community Trust Bancorp had a return on equity of 11.73% and a net margin of 23.24%.The firm had revenue of $71.50 million during the quarter, compared to the consensus estimate of $71.85 million. As a group, sell-side analysts forecast that Community Trust Bancorp, Inc. will post 5.06 earnings per share for the current year.

Community Trust Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 15th were given a $0.53 dividend. The ex-dividend date was Monday, December 15th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.6%. Community Trust Bancorp’s payout ratio is 41.01%.

Hedge Funds Weigh In On Community Trust Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Community Trust Bancorp by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,122 shares of the financial services provider’s stock valued at $459,000 after purchasing an additional 381 shares during the last quarter. Millennium Management LLC increased its stake in Community Trust Bancorp by 116.4% during the first quarter. Millennium Management LLC now owns 100,651 shares of the financial services provider’s stock worth $5,069,000 after purchasing an additional 54,130 shares during the period. Jane Street Group LLC lifted its position in shares of Community Trust Bancorp by 158.5% during the first quarter. Jane Street Group LLC now owns 28,493 shares of the financial services provider’s stock worth $1,435,000 after purchasing an additional 17,470 shares in the last quarter. Strs Ohio acquired a new stake in Community Trust Bancorp during the 1st quarter worth approximately $86,000. Finally, Wedge Capital Management L L P NC increased its position in shares of Community Trust Bancorp by 180.5% during the second quarter. Wedge Capital Management L L P NC now owns 42,847 shares of the financial services provider’s stock worth $2,267,000 after acquiring an additional 27,572 shares during the period. Institutional investors and hedge funds 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.