Price Action Don’t Lie: Is Buying 52-Week Stock Like Community Trust Bancorp, Inc. a Winning Strategy?

Price Action Don't Lie: Is Buying 52 Week Stock Like Community Trust Bancorp, Inc. a Winning Strategy?

The stock of Community Trust Bancorp, Inc. (NASDAQ:CTBI) hit a new 52-week high and has $46.76 target or 8.00% above today’s $43.30 share price. The 8 months bullish chart indicates low risk for the $777.21M company. The 1-year high was reported on Nov, 25 by Barchart.com. If the $46.76 price target is reached, the company will be worth $62.18M 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. The stock decreased 0.35% or $0.15 during the last trading session, hitting $43.3. About 11,140 shares traded hands. Community Trust Bancorp, Inc. (NASDAQ:CTBI) has risen 18.98% since April 22, 2016 and is uptrending. It has outperformed by 13.57% the S&P500.

Analysts await Community Trust Bancorp, Inc. (NASDAQ:CTBI) to report earnings on January, 18. They expect $0.70 EPS, up 2.94% or $0.02 from last year’s $0.68 per share. CTBI’s profit will be $12.56M for 15.46 P/E if the $0.70 EPS becomes a reality. After $0.70 actual EPS reported by Community Trust Bancorp, Inc. for the previous quarter, Wall Street now forecasts 0.00% EPS growth.

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 decreased to 1.37 in 2016 Q2. Its down 0.12, from 1.49 in 2016Q1. The ratio turned negative, 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.
Federated Incorporated Pa accumulated 0% or 29,875 shares. Metropolitan Life Ins Co last reported 12,091 shares in the company. Qs Ltd Liability last reported 0.01% of its portfolio in the stock. Susquehanna Int Group Llp has 12,200 shares for 0% of their US portfolio. Analytic Invsts Ltd Company has 0% invested in the company for 7,119 shares. Blackrock Group Limited, a United Kingdom-based fund reported 12,663 shares. Us Bancshares De accumulated 1,244 shares or 0% of the stock. Aperio Grp Ltd Liability Com has invested 0% of its portfolio in Community Trust Bancorp, Inc. (NASDAQ:CTBI). Blackrock Investment Mgmt Ltd Liability Corporation reported 66,609 shares or 0% of all its holdings. California Employees Retirement Systems has invested 0% of its portfolio in Community Trust Bancorp, Inc. (NASDAQ:CTBI). Community And last reported 8.48% of its portfolio in the stock. Strs Ohio owns 20,600 shares or 0% of their US portfolio. The United Kingdom-based Legal And General Gru Public Limited Com has invested 0% in Community Trust Bancorp, Inc. (NASDAQ:CTBI). Mcf Ltd Liability Corporation holds 0.01% of its portfolio in Community Trust Bancorp, Inc. (NASDAQ:CTBI) for 1,622 shares. Northern Trust Corporation holds 523,829 shares or 0.01% of its portfolio.

Insider Transactions: Since June 15, 2016, the stock had 0 buys, and 8 selling transactions for $1.61 million net activity. $459,203 worth of Community Trust Bancorp, Inc. (NASDAQ:CTBI) was sold by HALE JEAN R. 5,295 shares with value of $195,227 were sold by STUMBO KEVIN J on Tuesday, August 23. On Wednesday, August 3 Waters Andy D sold $7,574 worth of the stock or 220 shares. $63,944 worth of Community Trust Bancorp, Inc. (NASDAQ:CTBI) shares were sold by DRAUGHN JAMES B. The insider GOOCH MARK A sold $354,447. BAIRD CHARLES J sold 8,000 shares worth $284,180.

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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