Community Trust Bancorp (NASDAQ:CTBI) Sets New 52-Week High – Time to Buy?

Community Trust Bancorp, Inc. (NASDAQ:CTBI)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $61.67 and last traded at $60.75, with a volume of 12546 shares changing hands. The stock had previously closed at $59.68.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Raymond James upgraded shares of Community Trust Bancorp from a “market perform” rating to an “outperform” rating and set a $60.00 price target for the company in a research note on Friday, October 18th. Piper Sandler reaffirmed an “overweight” rating and issued a $64.00 target price on shares of Community Trust Bancorp in a report on Friday, November 8th.

Community Trust Bancorp Trading Up 0.7 %

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 stock has a market capitalization of $1.08 billion, a PE ratio of 13.83 and a beta of 0.63. The business’s 50-day moving average is $52.45 and its two-hundred day moving average is $47.89.

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

Community Trust Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Sunday, December 15th will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date is Friday, December 13th. Community Trust Bancorp’s dividend payout ratio (DPR) is 42.73%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Innealta Capital LLC acquired a new stake in shares of Community Trust Bancorp during the 2nd quarter valued at approximately $37,000. Quantbot Technologies LP purchased a new position in Community Trust Bancorp in the 3rd quarter valued at approximately $63,000. Coastline Trust Co acquired a new position in Community Trust Bancorp during the third quarter worth $79,000. CWM LLC boosted its position in Community Trust Bancorp by 1,932.0% during the second quarter. CWM LLC now owns 2,601 shares of the financial services provider’s stock worth $114,000 after purchasing an additional 2,473 shares in the last quarter. Finally, EMC Capital Management acquired a new stake in Community Trust Bancorp in the first quarter valued at $119,000. Hedge funds and other institutional investors own 60.20% of the company’s stock.

About Community Trust Bancorp

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.