Community Trust Bancorp (NASDAQ:CTBI) Stock Price Crosses Above 200-Day Moving Average of $41.68

Community Trust Bancorp, Inc. (NASDAQ:CTBI) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $41.68 and traded as high as $42.79. Community Trust Bancorp shares last traded at $41.93, with a volume of 46,342 shares.

Wall Street Analyst Weigh In

Separately, Janney Montgomery Scott initiated coverage on Community Trust Bancorp in a report on Wednesday, March 27th. They set a “buy” rating and a $49.00 price objective for the company.

Community Trust Bancorp Stock Down 1.6 %

The company’s 50 day moving average is $42.25 and its 200 day moving average is $41.68. The company has a market cap of $743.93 million, a PE ratio of 9.58 and a beta of 0.66. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.10.

Community Trust Bancorp (NASDAQ:CTBI) last issued its earnings results on Wednesday, April 17th. The financial services provider reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.06. Community Trust Bancorp had a net margin of 22.64% and a return on equity of 11.36%. The business had revenue of $59.02 million for the quarter, compared to the consensus estimate of $56.51 million. As a group, analysts predict that Community Trust Bancorp, Inc. will post 4.2 earnings per share for the current fiscal year.

Community Trust Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Saturday, June 15th will be issued a dividend of $0.46 per share. The ex-dividend date is Friday, June 14th. This represents a $1.84 annualized dividend and a yield of 4.46%. Community Trust Bancorp’s payout ratio is currently 42.69%.

Institutional Trading of Community Trust Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake in Community Trust Bancorp by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 120,219 shares of the financial services provider’s stock worth $5,273,000 after acquiring an additional 2,090 shares during the period. UBS Group AG raised its holdings in Community Trust Bancorp by 3.9% in the third quarter. UBS Group AG now owns 66,797 shares of the financial services provider’s stock worth $2,288,000 after purchasing an additional 2,523 shares in the last quarter. Alberta Investment Management Corp purchased a new stake in shares of Community Trust Bancorp during the third quarter valued at about $1,059,000. Assenagon Asset Management S.A. boosted its holdings in shares of Community Trust Bancorp by 118.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 65,844 shares of the financial services provider’s stock valued at $2,888,000 after buying an additional 35,765 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Community Trust Bancorp by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,158,760 shares of the financial services provider’s stock worth $50,824,000 after buying an additional 9,507 shares during the last quarter. 60.20% of the stock is currently owned by institutional investors.

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.