Community Trust Bancorp (NASDAQ:CTBI) Share Price Crosses Below 200 Day Moving Average - Here's Why

Key Points

• CTBI fell below its 200-day moving average, trading as low as $68.67 and last quoted at $69.11, versus the average of $69.19.
• Its latest quarterly results missed expectations: earnings were $1.43 per share versus the $1.65 consensus, while revenue of $79.7 million also came in below estimates.
• Analyst views remain moderately positive, with a consensus “Moderate Buy” rating and $78.50 target price; Piper Sandler cut its target from $81 to $75 and kept a neutral rating.

Community Trust Bancorp, Inc. (NASDAQ:CTBI - Get Free Report)'s share price crossed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $69.19 and traded as low as $68.67. Community Trust Bancorp shares last traded at $69.11, with a volume of 89,667 shares changing hands.

Analyst Ratings Changes

CTBI has been the subject of several research reports. Piper Sandler decreased their target price on Community Trust Bancorp from $81.00 to $75.00 and set a "neutral" rating for the company in a research report on Thursday, October 22nd. Weiss Ratings lowered Community Trust Bancorp from a "buy (a)" rating to a "buy (a-)" rating in a report on Friday, October 23rd. Finally, Raymond James Financial assumed coverage on shares of Community Trust Bancorp in a report on Tuesday, September 1st. They set an "outperform" rating and a $82.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Community Trust Bancorp has a consensus rating of "Moderate Buy" and a consensus target price of $78.50.

Community Trust Bancorp Price Performance

The stock has a 50 day moving average price of $74.19 and a two-hundred day moving average price of $69.19. The company has a market capitalization of $1.26 billion, a PE ratio of 11.37 and a beta of 0.56. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.94 and a current ratio of 0.94.

Community Trust Bancorp (NASDAQ:CTBI - Get Free Report) last issued its quarterly earnings results on Wednesday, October 21st. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.22). The business had revenue of $79.70 million during the quarter, compared to analyst estimates of $80.20 million. Community Trust Bancorp had a net margin of 25.48% and a return on equity of 12.60%. Equities analysts forecast that Community Trust Bancorp, Inc. will post 6.19 earnings per share for the current year.

Community Trust Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Tuesday, December 15th will be paid a $0.65 dividend. The ex-dividend date is Tuesday, December 15th. This represents a $2.60 annualized dividend and a dividend yield of 3.8%. Community Trust Bancorp's dividend payout ratio (DPR) is presently 42.76%.

Insider Buying and Selling at Community Trust Bancorp

In related news, Director Franky Minnifield sold 3,900 shares of the business's stock in a transaction on Friday, August 14th. The shares were sold at an average price of $78.85, for a total transaction of $307,515.00. Following the transaction, the director owned 8,320 shares in the company, valued at $656,032. The trade was a 31.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CTBI. Integrated Wealth Concepts LLC bought a new stake in shares of Community Trust Bancorp in the second quarter valued at about $37,000. Quantbot Technologies LP purchased a new stake in Community Trust Bancorp during the 2nd quarter valued at about $40,000. USA Financial Formulas purchased a new stake in shares of Community Trust Bancorp in the 3rd quarter valued at $71,000. Nisa Investment Advisors LLC boosted its position in Community Trust Bancorp by 36.3% during the third quarter. Nisa Investment Advisors LLC now owns 1,359 shares of the financial services provider's stock worth $102,000 after purchasing an additional 362 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake in Community Trust Bancorp by 8.5% in the third quarter. Farther Finance Advisors LLC now owns 1,819 shares of the financial services provider's stock worth $135,000 after purchasing an additional 142 shares in the last quarter. 60.20% of the stock is currently owned by institutional investors and hedge funds.

Community Trust Bancorp Company Profile

Community Trust Bancorp, Inc is a bank holding company headquartered in Pikeville, Kentucky. Through its principal subsidiary, Community Trust Bank, the company provides banking and financial services to individuals, businesses and organizations.

Its products and services include checking and savings accounts, certificates of deposit, consumer and mortgage loans, commercial lending, agricultural financing and other credit products. Community Trust also offers trust and wealth-management services, investment products, insurance and digital banking tools.

Community Trust Bank traces its history to 1903 and has developed a regional banking network serving communities primarily throughout eastern and central Kentucky, as well as portions of southern West Virginia.

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