Today’s Stock On Watch: What Next for Community Trust Bancorp, Inc. Stock After Touching 52-Week High?

Today's Stock On Watch: What Next for Community Trust Bancorp, Inc. Stock After Touching 52 Week High?

The stock of Community Trust Bancorp, Inc. (NASDAQ:CTBI) hit a new 52-week high and has $62.21 target or 62.00% above today’s $38.40 share price. The 7 months bullish chart indicates low risk for the $671.77M company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $62.21 price target is reached, the company will be worth $416.50 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 35,538 shares traded hands or 64.64% up from the average. Community Trust Bancorp, Inc. (NASDAQ:CTBI) has risen 8.28% since April 7, 2016 and is uptrending. It has outperformed by 3.50% the S&P500.

According to Zacks Investment Research, “Community Trust Financial Services Corporation was incorporated under the laws for the purpose of becoming a bank holding company for Community Trust Bank. The Company is intended to facilitate the Bank’s ability to serve its customers’ requirements for financial services. The primary activity of the Company currently is, and is expected to remain for the foreseeable future, the ownership and operation of the Bank.”

Insitutional Activity: The institutional sentiment increased to 1.49 in 2016 Q2. Its up 0.17, from 1.32 in 2016Q1. The ratio is positive, as 1 funds sold all Community Trust Bancorp, Inc. shares owned while 34 reduced positions. 15 funds bought stakes while 37 increased positions. They now own 9.31 million shares or 4.20% more from 8.94 million shares in 2016Q1.
California State Teachers Retirement Sys holds 31,937 shares or 0% of its portfolio. Cornercap Invest Counsel Incorporated holds 0.1% or 14,928 shares in its portfolio. Central Fincl Bank And Trust accumulated 0.09% or 9,529 shares. Shell Asset Management Com holds 0.01% or 16,119 shares in its portfolio. Blackrock Institutional Trust Na holds 0% or 493,326 shares in its portfolio. The New York-based Morgan Stanley has invested 0% in Community Trust Bancorp, Inc. (NASDAQ:CTBI). Credit Suisse Ag holds 0% of its portfolio in Community Trust Bancorp, Inc. (NASDAQ:CTBI) for 34,840 shares. Blackrock Fund Advsrs last reported 0% of its portfolio in the stock. Citigroup Inc has invested 0% of its portfolio in Community Trust Bancorp, Inc. (NASDAQ:CTBI). Kennedy accumulated 0.05% or 65,943 shares. Allianz Asset Mgmt Ag holds 0.01% or 548,520 shares in its portfolio. Renaissance Technologies Ltd Liability Corp owns 170,777 shares or 0.01% of their US portfolio. Blackrock Invest Management Limited Company, a New Jersey-based fund reported 66,609 shares. Deutsche Bank & Trust Ag holds 0% of its portfolio in Community Trust Bancorp, Inc. (NASDAQ:CTBI) for 43,670 shares. Wells Fargo & Company Mn, a California-based fund reported 6,818 shares.

Insider Transactions: Since June 15, 2016, the stock had 0 insider buys, and 7 insider sales for $1.55 million net activity. 5,295 shares were sold by DRAUGHN JAMES B, worth $195,686 on Monday, October 24. $459,203 worth of Community Trust Bancorp, Inc. (NASDAQ:CTBI) shares were sold by HALE JEAN R. STUMBO KEVIN J sold $54,201 worth of stock or 1,487 shares. Waters Andy D also sold $7,574 worth of Community Trust Bancorp, Inc. (NASDAQ:CTBI) shares. BAIRD CHARLES J had sold 8,000 shares worth $284,180 on Wednesday, June 15. $354,447 worth of Community Trust Bancorp, Inc. (NASDAQ:CTBI) was sold by GOOCH MARK A on Tuesday, August 23.

Another recent and important Community Trust Bancorp, Inc. (NASDAQ:CTBI) news was published by Businesswire.com which published an article titled: “Community Trust Bancorp, Inc. Reports Earnings for the Third Quarter 2016” on October 19, 2016.

CTBI Company Profile

Community Trust Bancorp, Inc. (CTBI), incorporated on August 12, 1980, is a bank holding company. The Firm operates in the community banking services segment. The Firm owns a commercial bank and a trust company, serving small and mid-sized communities in eastern, northeastern, central and south central Kentucky; southern West Virginia, and northeastern Tennessee. The commercial bank is Community Trust Bank, Inc., Pikeville, Kentucky (CTB) and the trust firm is Community Trust and Investment Company in Lexington, Kentucky. Through its subsidiaries, CTBI engages in a range of commercial and personal banking and trust and wealth management activities, which include accepting time and demand deposits; making secured and unsecured loans to firms, individuals and others; providing cash management services to corporate and individual customers; issuing letters of credit; renting safe deposit boxes, and providing funds transfer services.

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