Community Trust Bancorp (NASDAQ:CTBI) Stock Price Crosses Above 200-Day Moving Average – Should You Sell?

Community Trust Bancorp, Inc. (NASDAQ:CTBI) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $52.76 and traded as high as $55.78. Community Trust Bancorp shares last traded at $53.88, with a volume of 50,010 shares trading hands.

Wall Street Analyst Weigh In

Separately, Piper Sandler reissued an “overweight” rating and set a $64.00 price objective on shares of Community Trust Bancorp in a report on Friday, November 8th.

Community Trust Bancorp Stock Down 2.4 %

The company has a market capitalization of $972.97 million, a P/E ratio of 11.69 and a beta of 0.67. The company has a 50-day moving average of $54.01 and a two-hundred day moving average of $52.81. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.09.

Community Trust Bancorp (NASDAQ:CTBI) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.05. Community Trust Bancorp had a net margin of 22.02% and a return on equity of 11.36%. During the same quarter last year, the company posted $1.04 earnings per share. On average, research analysts predict that Community Trust Bancorp, Inc. will post 5.06 EPS for the current year.

Community Trust Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Saturday, March 15th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.49%. The ex-dividend date is Friday, March 14th. Community Trust Bancorp’s dividend payout ratio is currently 40.78%.

Institutional Investors Weigh In On Community Trust Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in CTBI. Thrivent Financial for Lutherans boosted its position in Community Trust Bancorp by 23.9% in the third quarter. Thrivent Financial for Lutherans now owns 80,948 shares of the financial services provider’s stock worth $4,020,000 after purchasing an additional 15,619 shares during the last quarter. Barclays PLC boosted its stake in shares of Community Trust Bancorp by 45.8% in the third quarter. Barclays PLC now owns 50,376 shares of the financial services provider’s stock worth $2,502,000 after acquiring an additional 15,832 shares during the period. Creative Planning bought a new position in Community Trust Bancorp in the 3rd quarter worth approximately $498,000. JPMorgan Chase & Co. grew its stake in Community Trust Bancorp by 34.9% during the third quarter. JPMorgan Chase & Co. now owns 95,233 shares of the financial services provider’s stock valued at $4,729,000 after acquiring an additional 24,622 shares in the last quarter. Finally, Merit Financial Group LLC increased its holdings in shares of Community Trust Bancorp by 9.7% in the fourth quarter. Merit Financial Group LLC now owns 5,217 shares of the financial services provider’s stock worth $277,000 after purchasing an additional 462 shares during the last quarter. 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.