Community Trust Bancorp (NASDAQ:CTBI) Sets New 12-Month High - Here's What Happened

Key Points

• Shares of Community Trust Bancorp (NASDAQ:CTBI) hit a new 52-week high intraday at $68.71 and last traded around $65.96, with roughly 105,917 shares changing hands.
• The firm beat quarterly estimates, reporting EPS of $1.50 versus $1.39 expected and $74.2M in revenue, and analysts maintain a consensus "Buy" with an average price target of $63.50 while sell-side forecasts full-year EPS of 6.08.
• Community Trust pays a quarterly dividend of $0.53 (annualized $2.12), a 3.2% yield with a payout ratio near 37%.

Shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $68.71 and last traded at $65.96, with a volume of 105917 shares trading hands. The stock had previously closed at $67.04.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a "buy (b)" rating on shares of Community Trust Bancorp in a research report on Friday, March 27th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $63.50.

Community Trust Bancorp Stock Performance

The business's 50-day moving average price is $61.84 and its 200-day moving average price is $58.63. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market cap of $1.20 billion, a P/E ratio of 11.55 and a beta of 0.53.

Community Trust Bancorp (NASDAQ:CTBI - Get Free Report) last issued its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $1.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.39 by $0.11. The firm had revenue of $74.20 million during the quarter, compared to the consensus estimate of $73.00 million. Community Trust Bancorp had a net margin of 24.85% and a return on equity of 12.42%. As a group, sell-side analysts expect that Community Trust Bancorp, Inc. will post 6.08 earnings per share for the current fiscal year.

Community Trust Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Sunday, March 15th were issued a $0.53 dividend. The ex-dividend date of this dividend was Friday, March 13th. This represents a $2.12 annualized dividend and a yield of 3.2%. Community Trust Bancorp's dividend payout ratio is currently 37.13%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. American Century Companies Inc. boosted its holdings in Community Trust Bancorp by 10.1% in the 3rd quarter. American Century Companies Inc. now owns 452,995 shares of the financial services provider's stock worth $25,345,000 after buying an additional 41,551 shares during the period. Clifford Capital Partners LLC boosted its holdings in Community Trust Bancorp by 0.3% in the 3rd quarter. Clifford Capital Partners LLC now owns 283,410 shares of the financial services provider's stock worth $15,857,000 after buying an additional 822 shares during the period. LSV Asset Management boosted its holdings in Community Trust Bancorp by 14.9% in the 4th quarter. LSV Asset Management now owns 280,380 shares of the financial services provider's stock worth $15,841,000 after buying an additional 36,300 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Community Trust Bancorp by 5.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 213,223 shares of the financial services provider's stock worth $12,047,000 after buying an additional 10,892 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in Community Trust Bancorp by 60.4% in the 4th quarter. JPMorgan Chase & Co. now owns 147,957 shares of the financial services provider's stock worth $8,360,000 after buying an additional 55,733 shares during the period. Institutional investors own 60.20% of the company's stock.

About Community Trust Bancorp

Community Trust Bancorp, Inc is a bank holding company headquartered in Pikeville, Kentucky. As the parent of Community Trust Bank, the company provides a comprehensive range of banking services to individuals, families and businesses throughout eastern Kentucky, southern West Virginia and northeast Tennessee. With origins dating back to the early 20th century, the organization has built a reputation for supporting community development and regional economic growth across the Appalachian region.

The company's personal banking offerings include checking and savings accounts, consumer installment loans, home equity and mortgage lending, as well as online and mobile banking platforms.

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