Community Trust Bancorp (NASDAQ:CTBI) Stock Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Community Trust Bancorp, Inc. (NASDAQ:CTBI)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred 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 traded.

Analyst Upgrades and Downgrades

CTBI has been the topic of a number of research reports. Raymond James upgraded Community Trust Bancorp from a “market perform” rating to an “outperform” rating and set a $60.00 price target on the stock in a report on Friday, October 18th. Piper Sandler restated an “overweight” rating and issued a $64.00 price target on shares of Community Trust Bancorp in a research report on Friday, November 8th.

Community Trust Bancorp Price Performance

The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.90 and a current ratio of 0.90. The company has a 50-day moving average of $56.42 and a 200-day moving average of $51.07. The stock has a market capitalization of $897.84 million, a price-to-earnings ratio of 11.30 and a beta of 0.67.

Community Trust Bancorp (NASDAQ:CTBI) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.08. The company had revenue of $95.38 million during the quarter, compared to analysts’ expectations of $62.00 million. Community Trust Bancorp had a return on equity of 10.93% and a net margin of 21.64%. As a group, equities research analysts expect that Community Trust Bancorp, Inc. will post 4.56 earnings per share for the current fiscal year.

Community Trust Bancorp Dividend Announcement

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

Hedge Funds Weigh In On Community Trust Bancorp

Several institutional investors and hedge funds have recently modified their holdings of CTBI. Quantbot Technologies LP acquired a new position in Community Trust Bancorp in the 3rd quarter valued at $63,000. Coastline Trust Co acquired a new position in Community Trust Bancorp in the third quarter valued at $79,000. CWM LLC lifted its position 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 worth $145,000 after buying an additional 317 shares during the period. SG Americas Securities LLC acquired a new stake in Community Trust Bancorp in the 3rd quarter worth about $209,000. Finally, BNP Paribas Financial Markets grew its holdings in Community Trust Bancorp by 33.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,285 shares of the financial services provider’s stock valued at $213,000 after buying an additional 1,079 shares during the period. Hedge funds and other 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.