Community Trust Bancorp (NASDAQ:CTBI) Reaches New 1-Year High - What's Next?

Community Trust Bancorp, Inc. (NASDAQ:CTBI - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $61.26 and last traded at $61.25, with a volume of 5110 shares traded. The stock had previously closed at $60.47.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CTBI. 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. Piper Sandler reaffirmed an "overweight" rating and set a $64.00 target price on shares of Community Trust Bancorp in a research note on Friday.

Community Trust Bancorp Price Performance

The business's 50 day moving average price is $50.54 and its two-hundred day moving average price is $46.87. The stock has a market cap of $1.09 billion, a P/E ratio of 13.74 and a beta of 0.63. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09.

Community Trust Bancorp (NASDAQ:CTBI - Get Free Report) last announced 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. The firm had revenue of $95.38 million for the quarter, compared to analyst estimates of $62.00 million. Community Trust Bancorp had a net margin of 21.64% and a return on equity of 11.13%. As a group, sell-side analysts expect that Community Trust Bancorp, Inc. will post 4.55 earnings per share for the current fiscal year.

Community Trust Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Sunday, December 15th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.11%. The ex-dividend date is Friday, December 13th. Community Trust Bancorp's payout ratio is currently 42.73%.

Institutional Investors Weigh In On Community Trust Bancorp

Hedge funds have recently bought and sold shares of the business. Innealta Capital LLC bought a new stake in Community Trust Bancorp during the second quarter worth about $37,000. EntryPoint Capital LLC purchased a new position in Community Trust Bancorp in the first quarter worth about $78,000. Coastline Trust Co purchased a new position in Community Trust Bancorp in the third quarter worth about $79,000. CWM LLC raised its holdings in Community Trust Bancorp by 1,932.0% in the second quarter. CWM LLC now owns 2,601 shares of the financial services provider's stock worth $114,000 after buying an additional 2,473 shares during the last quarter. Finally, EMC Capital Management purchased a new position in Community Trust Bancorp in the first quarter worth about $119,000. 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.

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