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

Community Trust Bancorp, Inc. (NASDAQ:CTBI)’s share price 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. The stock had previously closed at $52.79.

Analysts Set New Price Targets

A number of analysts recently issued reports on CTBI shares. Raymond James raised 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 report on Friday, October 18th. Piper Sandler reiterated an “overweight” rating and set a $64.00 price objective on shares of Community Trust Bancorp in a research note on Friday.

Community Trust Bancorp Price Performance

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 business has a fifty day moving average of $50.20 and a 200 day moving average of $46.59. The firm has a market cap of $1.04 billion, a P/E ratio of 13.10 and a beta of 0.63.

Community Trust Bancorp (NASDAQ:CTBI) last posted its quarterly 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 business had revenue of $95.38 million for the quarter, compared to analysts’ expectations of $62.00 million. On average, sell-side analysts anticipate that Community Trust Bancorp, Inc. will post 4.55 earnings per share for the current year.

Community Trust Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Sunday, December 15th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend is Friday, December 13th. Community Trust Bancorp’s payout ratio is 42.73%.

Hedge Funds Weigh In On Community Trust Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in the company. Innealta Capital LLC bought a new stake in Community Trust Bancorp in the 2nd quarter valued at $37,000. EntryPoint Capital LLC bought a new position in Community Trust Bancorp during the first quarter worth about $78,000. Coastline Trust Co acquired a new stake in Community Trust Bancorp in the 3rd quarter worth about $79,000. CWM LLC raised its stake in Community Trust Bancorp by 1,932.0% in the 2nd quarter. CWM LLC now owns 2,601 shares of the financial services provider’s stock worth $114,000 after purchasing an additional 2,473 shares in the last quarter. Finally, EMC Capital Management acquired a new position in shares of Community Trust Bancorp during the 1st quarter worth approximately $119,000. 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.