Community Trust Bancorp (NASDAQ:CTBI) Sets New 1-Year High After Earnings Beat

Community Trust Bancorp, Inc. (NASDAQ:CTBI) shares hit a new 52-week high on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $52.22 and last traded at $52.22, with a volume of 9808 shares changing hands. The stock had previously closed at $50.76.

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 return on equity of 11.14% and a net margin of 21.85%. The business had revenue of $95.38 million for the quarter, compared to analysts’ expectations of $62.00 million.

Community Trust Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Sunday, September 15th were given a dividend of $0.47 per share. This is a boost from Community Trust Bancorp’s previous quarterly dividend of $0.46. This represents a $1.88 annualized dividend and a dividend yield of 3.65%. The ex-dividend date of this dividend was Friday, September 13th. Community Trust Bancorp’s dividend payout ratio is currently 43.62%.

Insider Activity at Community Trust Bancorp

In other news, EVP David Andrew Jones purchased 10,000 shares of Community Trust Bancorp stock in a transaction on Monday, July 22nd. The stock was purchased at an average price of $32.27 per share, with a total value of $322,700.00. Following the transaction, the executive vice president now directly owns 10,000 shares in the company, valued at $322,700. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 4.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. BTC Capital Management Inc. acquired a new position in shares of Community Trust Bancorp during the 1st quarter worth about $348,000. Hennion & Walsh Asset Management Inc. grew its stake in Community Trust Bancorp by 12.8% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 12,015 shares of the financial services provider’s stock valued at $512,000 after purchasing an additional 1,367 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Community Trust Bancorp by 86.9% in the first quarter. BNP Paribas Financial Markets now owns 7,691 shares of the financial services provider’s stock valued at $328,000 after purchasing an additional 3,577 shares in the last quarter. LSV Asset Management increased its position in shares of Community Trust Bancorp by 9.0% during 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 during the last quarter. Finally, Empowered Funds LLC raised its stake in shares of Community Trust Bancorp by 8.0% during the 1st quarter. Empowered Funds LLC now owns 56,904 shares of the financial services provider’s stock worth $2,427,000 after purchasing an additional 4,200 shares in the last quarter. Institutional investors own 60.20% of the company’s stock.

Community Trust Bancorp Trading Down 1.7 %

The company has a market cap of $927.98 million, a price-to-earnings ratio of 11.94 and a beta of 0.64. The firm has a fifty day moving average price of $48.68 and a 200 day moving average price of $45.32. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.88 and a current ratio of 0.88.

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.