Community Trust Bancorp (NASDAQ:CTBI) Hits New 1-Year High – Here’s Why

Shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) reached a new 52-week high during trading on Wednesday . The company traded as high as $59.11 and last traded at $59.02, with a volume of 8319 shares traded. The stock had previously closed at $52.79.

Analyst Ratings Changes

Separately, Raymond James raised shares of Community Trust Bancorp from a “market perform” rating to an “outperform” rating and set a $60.00 price target on the stock in a report on Friday, October 18th.

Community Trust Bancorp Trading Up 15.4 %

The firm has a 50 day moving average of $49.86 and a 200-day moving average of $46.42. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $1.10 billion, a P/E ratio of 13.64 and a beta of 0.63.

Community Trust Bancorp (NASDAQ:CTBI) last released its earnings results on Wednesday, October 16th. The financial services provider reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.08. Community Trust Bancorp had a return on equity of 11.13% and a net margin of 21.64%. The firm had revenue of $95.38 million during the quarter, compared to the consensus estimate of $62.00 million. On average, equities research analysts predict that Community Trust Bancorp, Inc. will post 4.55 earnings per share for the current fiscal year.

Community Trust Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Sunday, December 15th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend is Friday, December 13th. Community Trust Bancorp’s dividend payout ratio is currently 42.73%.

Institutional Trading of Community Trust Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in CTBI. Coastline Trust Co bought a new stake in Community Trust Bancorp during the third quarter worth $79,000. Empowered Funds LLC increased its stake in shares of Community Trust Bancorp by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 64,440 shares of the financial services provider’s stock valued at $3,200,000 after purchasing an additional 3,216 shares during the last quarter. Aptus Capital Advisors LLC acquired a new position in shares of Community Trust Bancorp during the 3rd quarter worth $608,000. Creative Planning bought a new stake in shares of Community Trust Bancorp during the 3rd quarter worth $498,000. Finally, Code Waechter LLC acquired a new stake in Community Trust Bancorp in the third quarter valued at about $425,000. 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.