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

Shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI - Get Free Report) 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 trading hands.

Analyst Upgrades and Downgrades

CTBI has been the subject of a number of recent research reports. Raymond James raised 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 report on Friday, October 18th. Piper Sandler reiterated an "overweight" rating and issued a $64.00 price target on shares of Community Trust Bancorp in a research note on Friday, November 8th.

Community Trust Bancorp Trading Down 2.7 %

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 cap of $897.84 million, a P/E ratio of 11.30 and a beta of 0.67. The company's 50 day simple moving average is $56.47 and its 200-day simple moving average is $51.01.

Community Trust Bancorp (NASDAQ:CTBI - Get Free Report) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.08. The business 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 predict that Community Trust Bancorp, Inc. will post 4.56 earnings per share for the current fiscal year.

Community Trust Bancorp Announces Dividend

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

Institutional Trading of Community Trust Bancorp

Several institutional investors and hedge funds have recently modified their holdings of CTBI. Quantbot Technologies LP purchased a new position in Community Trust Bancorp during the third quarter valued at approximately $63,000. Coastline Trust Co purchased a new position in Community Trust Bancorp during the third quarter valued at approximately $79,000. CWM LLC increased its holdings in Community Trust Bancorp by 12.2% during the third quarter. CWM LLC now owns 2,918 shares of the financial services provider's stock valued at $145,000 after buying an additional 317 shares during the period. SG Americas Securities LLC purchased a new position in Community Trust Bancorp in the third quarter worth $209,000. Finally, BNP Paribas Financial Markets grew its holdings in Community Trust Bancorp by 33.7% in the third quarter. BNP Paribas Financial Markets now owns 4,285 shares of the financial services provider's stock worth $213,000 after purchasing an additional 1,079 shares during the last quarter. 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.