Community Trust Bancorp (NASDAQ:CTBI) Reaches New 1-Year High – Time to Buy?

Community Trust Bancorp, Inc. (NASDAQ:CTBI)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $61.26 and last traded at $61.25, with a volume of 5110 shares changing hands. The stock had previously closed at $60.47.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Piper Sandler reissued an “overweight” rating and set a $64.00 target price on shares of Community Trust Bancorp in a research note on Friday, November 8th. Raymond James raised shares of Community Trust Bancorp from a “market perform” rating to an “outperform” rating and set a $60.00 target price on the stock in a research note on Friday, October 18th.

Community Trust Bancorp Stock Performance

The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.88 and a current ratio of 0.90. The firm’s 50 day moving average price is $50.96 and its 200-day moving average price is $47.08. The firm has a market capitalization of $1.07 billion, a PE ratio of 13.51 and a beta of 0.63.

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

Community Trust Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Sunday, December 15th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.88 annualized dividend and a dividend yield of 3.16%. Community Trust Bancorp’s dividend payout ratio (DPR) is presently 42.73%.

Institutional Trading of Community Trust Bancorp

Hedge funds have recently bought and sold shares of the business. Thoroughbred Financial Services LLC acquired a new stake in shares of Community Trust Bancorp during the 2nd quarter worth approximately $2,891,000. AQR Capital Management LLC boosted its position in Community Trust Bancorp by 37.8% in the 2nd quarter. AQR Capital Management LLC now owns 188,707 shares of the financial services provider’s stock valued at $8,239,000 after buying an additional 51,765 shares during the period. American Century Companies Inc. boosted its position in Community Trust Bancorp by 20.5% in the 2nd quarter. American Century Companies Inc. now owns 274,759 shares of the financial services provider’s stock valued at $11,996,000 after buying an additional 46,745 shares during the period. Clifford Capital Partners LLC boosted its position in Community Trust Bancorp by 7.8% in 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 during the period. Finally, Bank of Montreal Can purchased a new position in Community Trust Bancorp in the 2nd quarter valued at approximately $764,000. Institutional investors and hedge funds own 60.20% of the company’s stock.

Community Trust Bancorp Company Profile

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.