Community Trust Bancorp (NASDAQ:CTBI) Stock Price Passes Above Two Hundred Day Moving Average - Here's Why

Community Trust Bancorp, Inc. (NASDAQ:CTBI - Get Free Report)'s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $51.90 and traded as high as $55.32. Community Trust Bancorp shares last traded at $55.18, with a volume of 63,891 shares trading hands.

Analyst Upgrades and Downgrades

CTBI has been the subject of several research analyst reports. Raymond James Financial cut their price objective on Community Trust Bancorp from $60.00 to $58.00 and set an "outperform" rating for the company in a report on Wednesday, April 2nd. Piper Sandler reduced their target price on Community Trust Bancorp from $60.00 to $56.00 and set an "overweight" rating for the company in a report on Thursday, April 17th.

Community Trust Bancorp Stock Performance

The firm has a market capitalization of $1.02 billion, a PE ratio of 11.72 and a beta of 0.58. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a fifty day moving average price of $51.65 and a 200 day moving average price of $51.86.

Community Trust Bancorp (NASDAQ:CTBI - Get Free Report) last announced its earnings results on Wednesday, April 16th. The financial services provider reported $1.22 EPS for the quarter, beating the consensus estimate of $1.19 by $0.03. Community Trust Bancorp had a return on equity of 11.40% and a net margin of 22.49%. The business had revenue of $66.16 million during the quarter, compared to the consensus estimate of $64.92 million. During the same period in the prior year, the business posted $1.04 earnings per share. Research analysts anticipate that Community Trust Bancorp, Inc. will post 5.06 earnings per share for the current fiscal year.

Community Trust Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Sunday, June 15th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend was Friday, June 13th. Community Trust Bancorp's payout ratio is 39.25%.

Insiders Place Their Bets

In other Community Trust Bancorp news, Director Franky Minnifield purchased 2,000 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The shares were purchased at an average cost of $51.01 per share, with a total value of $102,020.00. Following the completion of the transaction, the director owned 17,099 shares of the company's stock, valued at approximately $872,219.99. This represents a 13.25% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 4.30% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. US Bancorp DE increased its stake in Community Trust Bancorp by 311.8% in the 4th quarter. US Bancorp DE now owns 560 shares of the financial services provider's stock valued at $30,000 after buying an additional 424 shares during the period. PNC Financial Services Group Inc. increased its stake in Community Trust Bancorp by 39.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 801 shares of the financial services provider's stock valued at $40,000 after buying an additional 228 shares during the period. Federated Hermes Inc. acquired a new position in Community Trust Bancorp in the 4th quarter valued at approximately $46,000. Strs Ohio acquired a new position in Community Trust Bancorp in the 1st quarter valued at approximately $86,000. Finally, Quantbot Technologies LP increased its stake in Community Trust Bancorp by 43.5% in the 4th quarter. Quantbot Technologies LP now owns 1,824 shares of the financial services provider's stock valued at $97,000 after buying an additional 553 shares during the period. 60.20% of the stock is owned by institutional investors and hedge funds.

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.