Community Trust Bancorp (NASDAQ:CTBI) Reaches New 1-Year High – Time to Buy?

Community Trust Bancorp, Inc. (NASDAQ:CTBI) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $59.11 and last traded at $59.02, with a volume of 8319 shares trading hands. The stock had previously closed at $52.79.

Wall Street Analyst Weigh In

Separately, Raymond James raised Community Trust Bancorp from a “market perform” rating to an “outperform” rating and set a $60.00 target price for the company in a research report on Friday, October 18th.

Community Trust Bancorp Stock Up 15.4 %

The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.88 and a current ratio of 0.88. The stock’s 50 day simple moving average is $49.86 and its 200 day simple moving average is $46.42. The firm has a market cap of $1.10 billion, a P/E ratio of 13.64 and a beta of 0.63.

Community Trust Bancorp (NASDAQ:CTBI) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $1.23 EPS for the quarter, topping 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 11.13%. The company had revenue of $95.38 million during the quarter, compared to the consensus estimate of $62.00 million. Research analysts anticipate that Community Trust Bancorp, Inc. will post 4.55 EPS for the current year.

Community Trust Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Sunday, December 15th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend is Friday, December 13th. Community Trust Bancorp’s dividend payout ratio (DPR) is presently 42.73%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CTBI. Heartland Advisors Inc. lifted its stake in Community Trust Bancorp by 216.9% during the 1st quarter. Heartland Advisors Inc. now owns 161,700 shares of the financial services provider’s stock valued at $6,897,000 after acquiring an additional 110,681 shares in the last quarter. Thoroughbred Financial Services LLC bought a new position in shares of Community Trust Bancorp during the second quarter valued at about $2,891,000. AQR Capital Management LLC lifted its position in shares of Community Trust Bancorp by 37.8% during the second quarter. AQR Capital Management LLC now owns 188,707 shares of the financial services provider’s stock valued at $8,239,000 after purchasing an additional 51,765 shares in the last quarter. American Century Companies Inc. boosted its holdings in Community Trust Bancorp by 20.5% during the second quarter. American Century Companies Inc. now owns 274,759 shares of the financial services provider’s stock worth $11,996,000 after purchasing an additional 46,745 shares during the last quarter. Finally, LSV Asset Management grew its position in Community Trust Bancorp by 9.0% in the 1st quarter. LSV Asset Management now owns 290,157 shares of the financial services provider’s stock worth $12,375,000 after purchasing an additional 23,890 shares in the last quarter. 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.