Community Trust Bancorp (NASDAQ:CTBI) Share Price Crosses Above 200-Day Moving Average - Time to Sell?

Community Trust Bancorp, Inc. (NASDAQ:CTBI - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $51.01 and traded as high as $51.32. Community Trust Bancorp shares last traded at $51.11, with a volume of 73,972 shares.

Analysts Set New Price Targets

Several research firms have recently commented on CTBI. Raymond James upgraded shares of Community Trust Bancorp from a "market perform" rating to an "outperform" rating and set a $60.00 price objective for the company in a research note 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, November 8th.

Community Trust Bancorp Stock Down 2.7 %

The company's 50 day moving average price is $56.47 and its 200 day moving average price is $51.01. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $897.84 million, a price-to-earnings ratio of 11.30 and a beta of 0.67.

Community Trust Bancorp (NASDAQ:CTBI - Get Free Report) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.15 by $0.08. The company had revenue of $95.38 million during the quarter, compared to the consensus estimate of $62.00 million. Community Trust Bancorp had a net margin of 21.64% and a return on equity of 10.93%. As a group, research analysts forecast that Community Trust Bancorp, Inc. will post 4.56 earnings per share for the current fiscal year.

Community Trust Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Sunday, December 15th were given a dividend of $0.47 per share. The ex-dividend date was Friday, December 13th. This represents a $1.88 dividend on an annualized basis and a yield of 3.78%. Community Trust Bancorp's dividend payout ratio is presently 42.73%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company raised its position in shares of Community Trust Bancorp by 4.0% in the second quarter. The Manufacturers Life Insurance Company now owns 6,112 shares of the financial services provider's stock worth $267,000 after acquiring an additional 234 shares during the period. CWM LLC raised its position in shares of Community Trust Bancorp by 12.2% in the third quarter. CWM LLC now owns 2,918 shares of the financial services provider's stock worth $145,000 after acquiring an additional 317 shares during the period. ClariVest Asset Management LLC raised its position in shares of Community Trust Bancorp by 2.9% in the second quarter. ClariVest Asset Management LLC now owns 15,913 shares of the financial services provider's stock worth $695,000 after acquiring an additional 445 shares during the period. Renaissance Technologies LLC increased its stake in shares of Community Trust Bancorp by 0.3% during the second quarter. Renaissance Technologies LLC now owns 143,382 shares of the financial services provider's stock worth $6,260,000 after purchasing an additional 500 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Community Trust Bancorp by 9.7% during the third quarter. Franklin Resources Inc. now owns 10,044 shares of the financial services provider's stock worth $503,000 after purchasing an additional 889 shares in the last quarter. Institutional investors and hedge funds 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.