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

Key Points

• CTBI shares rose above their 200-day moving average, trading as high as $75.15 and last changing hands at $74.19, a technical move that may signal improved momentum.
• Analysts remain mixed but generally constructive: Piper Sandler raised its target to $81, Raymond James kept an outperform rating, and the consensus target price is $81.50 with a Moderate Buy rating.
• The bank reported better-than-expected quarterly results, with EPS of $1.64 versus $1.52 expected and revenue of $78.49 million topping estimates, while also paying a quarterly dividend that annualizes to $2.12 per share for a 2.9% yield.

Community Trust Bancorp, Inc. (NASDAQ:CTBI - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $64.80 and traded as high as $75.15. Community Trust Bancorp shares last traded at $74.19, with a volume of 91,788 shares.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Piper Sandler boosted their price objective on shares of Community Trust Bancorp from $76.00 to $81.00 and gave the company a "neutral" rating in a report on Thursday, July 16th. Raymond James Financial reaffirmed an "outperform" rating and set a $82.00 target price on shares of Community Trust Bancorp in a research note on Thursday, July 16th. Zacks Research downgraded shares of Community Trust Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 16th. Finally, Weiss Ratings upgraded shares of Community Trust Bancorp from a "buy (b+)" rating to a "buy (a-)" rating in a report on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $81.50.

Community Trust Bancorp Price Performance

The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.08. The stock has a market cap of $1.35 billion, a PE ratio of 12.43 and a beta of 0.54. The company has a fifty day moving average of $69.84 and a 200-day moving average of $64.80.

Community Trust Bancorp (NASDAQ:CTBI - Get Free Report) last posted its earnings results on Wednesday, July 15th. The financial services provider reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.12. The firm had revenue of $78.49 million for the quarter, compared to analyst estimates of $76.85 million. Community Trust Bancorp had a return on equity of 12.66% and a net margin of 25.55%. Sell-side analysts expect that Community Trust Bancorp, Inc. will post 6.41 EPS for the current fiscal year.

Community Trust Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th were paid a $0.53 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $2.12 annualized dividend and a dividend yield of 2.9%. Community Trust Bancorp's dividend payout ratio (DPR) is presently 35.51%.

Institutional Investors Weigh In On Community Trust Bancorp

A number of hedge funds have recently added to or reduced their stakes in CTBI. Assetmark Inc. acquired a new position in shares of Community Trust Bancorp in the fourth quarter worth $27,000. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Community Trust Bancorp in the fourth quarter valued at $30,000. Quadrant Capital Group LLC purchased a new position in Community Trust Bancorp in the third quarter valued at $86,000. Russell Investments Group Ltd. boosted its holdings in Community Trust Bancorp by 478.9% in the third quarter. Russell Investments Group Ltd. now owns 1,650 shares of the financial services provider's stock valued at $92,000 after purchasing an additional 1,365 shares during the period. Finally, Strs Ohio acquired a new position in Community Trust Bancorp during the 1st quarter worth $86,000. 60.20% of the stock is currently owned by institutional investors and hedge funds.

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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