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

Community Trust Bancorp, Inc. (NASDAQ:CTBI)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-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 Ratings Changes

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

Community Trust Bancorp Trading Up 0.5 %

The company has a market cap of $922.94 million, a PE ratio of 11.62 and a beta of 0.67. The company’s 50 day simple moving average is $56.48 and its two-hundred day simple moving average is $51.01. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.90 and a quick ratio of 0.90.

Community Trust Bancorp (NASDAQ:CTBI) last posted 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. Community Trust Bancorp had a net margin of 21.64% and a return on equity of 10.93%. The firm had revenue of $95.38 million during the quarter, compared to the consensus estimate of $62.00 million. As a group, sell-side analysts anticipate that Community Trust Bancorp, Inc. will post 4.56 EPS for the current fiscal year.

Community Trust Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Sunday, December 15th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.68%. The ex-dividend date was Friday, December 13th. Community Trust Bancorp’s payout ratio is 42.73%.

Hedge Funds Weigh In On Community Trust Bancorp

Several institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its stake in shares of Community Trust Bancorp by 4.0% in the second quarter. The Manufacturers Life Insurance Company now owns 6,112 shares of the financial services provider’s stock valued at $267,000 after purchasing an additional 234 shares during the period. CWM LLC grew its stake in shares of Community Trust Bancorp by 12.2% in the third quarter. CWM LLC now owns 2,918 shares of the financial services provider’s stock worth $145,000 after acquiring an additional 317 shares in the last quarter. ClariVest Asset Management LLC increased its position in shares of Community Trust Bancorp by 2.9% during the second quarter. ClariVest Asset Management LLC now owns 15,913 shares of the financial services provider’s stock worth $695,000 after acquiring an additional 445 shares during the period. Renaissance Technologies LLC raised its stake in shares of Community Trust Bancorp by 0.3% in the second quarter. Renaissance Technologies LLC now owns 143,382 shares of the financial services provider’s stock valued at $6,260,000 after acquiring an additional 500 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in Community Trust Bancorp by 9.7% during the 3rd quarter. Franklin Resources Inc. now owns 10,044 shares of the financial services provider’s stock worth $503,000 after purchasing an additional 889 shares in the last quarter. 60.20% of the stock is owned by institutional investors and hedge funds.

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.