Community Trust Bancorp (NASDAQ:CTBI) Hits New 12-Month High at $46.16

Community Trust Bancorp, Inc. (NASDAQ:CTBI) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $46.16 and last traded at $46.00, with a volume of 37073 shares. The stock had previously closed at $44.90.

Analysts Set New Price Targets

Separately, Janney Montgomery Scott assumed coverage on shares of Community Trust Bancorp in a research report on Wednesday, March 27th. They issued a “buy” rating and a $49.00 target price on the stock.

Community Trust Bancorp Price Performance

The company’s fifty day moving average is $42.49 and its 200 day moving average is $41.58. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.10. The stock has a market cap of $830.10 million, a PE ratio of 10.67 and a beta of 0.66.

Community Trust Bancorp (NASDAQ:CTBI) last posted its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $1.04 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $59.02 million for the quarter, compared to analyst estimates of $56.51 million. As a group, sell-side analysts anticipate that Community Trust Bancorp, Inc. will post 4.18 earnings per share for the current fiscal year.

Community Trust Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Saturday, June 15th were paid a dividend of $0.46 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 4.00%. Community Trust Bancorp’s dividend payout ratio is currently 42.69%.

Institutional Trading of Community Trust Bancorp

A number of hedge funds have recently made changes to their positions in CTBI. American Century Companies Inc. raised its stake in shares of Community Trust Bancorp by 12.4% during the third quarter. American Century Companies Inc. now owns 152,823 shares of the financial services provider’s stock valued at $5,236,000 after purchasing an additional 16,907 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Community Trust Bancorp during the fourth quarter worth approximately $109,000. Assenagon Asset Management S.A. grew its position in shares of Community Trust Bancorp by 118.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 65,844 shares of the financial services provider’s stock worth $2,888,000 after buying an additional 35,765 shares in the last quarter. Chatham Capital Group Inc. acquired a new stake in shares of Community Trust Bancorp during the fourth quarter worth approximately $234,000. Finally, Equitable Trust Co. grew its position in shares of Community Trust Bancorp by 7.2% during the fourth quarter. Equitable Trust Co. now owns 9,680 shares of the financial services provider’s stock worth $425,000 after buying an additional 647 shares in the last quarter. Hedge funds and other institutional investors 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.