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

Community Trust Bancorp, Inc. (NASDAQ:CTBI) hit a new 52-week high on Monday . The company traded as high as $68.72 and last traded at $68.47, with a volume of 15303 shares changing hands. The stock had previously closed at $67.58.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. 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. Zacks Research raised shares of Community Trust Bancorp from a “hold” rating to a “strong-buy” rating in a report on Friday, April 24th. Two equities research analysts have rated the stock with a Strong Buy rating and two have given a Buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Strong Buy” and a consensus target price of $63.50.

Community Trust Bancorp Stock Up 1.2%

The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $1.24 billion, a PE ratio of 11.96 and a beta of 0.54. The business’s 50 day simple moving average is $64.97 and its 200 day simple moving average is $61.47.

Community Trust Bancorp (NASDAQ:CTBI) last posted its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.11. Community Trust Bancorp had a net margin of 24.85% and a return on equity of 12.27%. The company had revenue of $74.20 million during the quarter, compared to analyst estimates of $73.00 million. As a group, analysts forecast that Community Trust Bancorp, Inc. will post 6.08 EPS for the current year.

Community Trust Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.12 dividend on an annualized basis and a yield of 3.1%. Community Trust Bancorp’s dividend payout ratio is currently 37.13%.

Institutional Trading of Community Trust Bancorp

A number of hedge funds have recently bought and sold shares of CTBI. SG Americas Securities LLC lifted its position in shares of Community Trust Bancorp by 462.8% in the fourth quarter. SG Americas Securities LLC now owns 36,957 shares of the financial services provider’s stock worth $2,088,000 after purchasing an additional 30,390 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Community Trust Bancorp by 24.9% in the third quarter. JPMorgan Chase & Co. now owns 92,224 shares of the financial services provider’s stock worth $5,160,000 after purchasing an additional 18,387 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Community Trust Bancorp by 10.1% in the third quarter. American Century Companies Inc. now owns 452,995 shares of the financial services provider’s stock worth $25,345,000 after purchasing an additional 41,551 shares in the last quarter. Hillsdale Investment Management Inc. lifted its position in shares of Community Trust Bancorp by 24.8% in the third quarter. Hillsdale Investment Management Inc. now owns 124,669 shares of the financial services provider’s stock worth $6,975,000 after purchasing an additional 24,800 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Community Trust Bancorp in the fourth quarter worth approximately $1,892,000. 60.20% of the stock is owned by hedge funds and other institutional investors.

Community Trust Bancorp Company Profile

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.