Community Trust Bancorp (NASDAQ:CTBI) Hits New 52-Week High – Should You Buy?

Community Trust Bancorp, Inc. (NASDAQ:CTBI)’s stock price hit a new 52-week high on Wednesday . The company traded as high as $74.52 and last traded at $73.4890, with a volume of 22595 shares. The stock had previously closed at $72.36.

Analysts Set New Price Targets

CTBI has been the topic of a number of research analyst reports. Zacks Research cut shares of Community Trust Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 16th. Weiss Ratings raised shares of Community Trust Bancorp from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, May 18th. Finally, Piper Sandler initiated coverage on Community Trust Bancorp in a research note on Thursday, June 11th. They issued a “neutral” rating and a $76.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $68.50.

Community Trust Bancorp Trading Down 1.8%

The firm has a fifty day moving average of $67.61 and a two-hundred day moving average of $63.34. The company has a market cap of $1.32 billion, a PE ratio of 12.74 and a beta of 0.54. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.08.

Community Trust Bancorp (NASDAQ:CTBI) last released its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $1.50 EPS for the quarter, beating the consensus estimate of $1.39 by $0.11. The business had revenue of $74.20 million for the quarter, compared to the consensus estimate of $73.00 million. Community Trust Bancorp had a net margin of 24.85% and a return on equity of 12.27%. As a group, sell-side analysts predict that Community Trust Bancorp, Inc. will post 6.13 EPS for the current year.

Community Trust Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 15th were paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Monday, June 15th. Community Trust Bancorp’s dividend payout ratio is presently 37.13%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Community Trust Bancorp by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,122 shares of the financial services provider’s stock worth $459,000 after acquiring an additional 381 shares in the last quarter. Millennium Management LLC grew its position in shares of Community Trust Bancorp by 116.4% in the first quarter. Millennium Management LLC now owns 100,651 shares of the financial services provider’s stock valued at $5,069,000 after purchasing an additional 54,130 shares in the last quarter. Jane Street Group LLC grew its position in shares of Community Trust Bancorp by 158.5% in the first quarter. Jane Street Group LLC now owns 28,493 shares of the financial services provider’s stock valued at $1,435,000 after purchasing an additional 17,470 shares in the last quarter. Strs Ohio bought a new stake in shares of Community Trust Bancorp during the 1st quarter valued at $86,000. Finally, Rhumbline Advisers raised its stake in shares of Community Trust Bancorp by 4.5% during the 2nd quarter. Rhumbline Advisers now owns 24,696 shares of the financial services provider’s stock valued at $1,307,000 after purchasing an additional 1,074 shares during the period. 60.20% of the stock is currently owned by hedge funds and other institutional investors.

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.