Community Trust Bancorp (NASDAQ:CTBI) Coverage Initiated by Analysts at Piper Sandler

Piper Sandler began coverage on shares of Community Trust Bancorp (NASDAQ:CTBI) in a report released on Thursday, MarketBeat Ratings reports. The firm set a “neutral” rating and a $76.00 price target on the financial services provider’s stock. Piper Sandler’s price objective would indicate a potential upside of 7.80% from the stock’s previous close.

Other equities analysts have also issued reports about the company. Zacks Research raised shares of Community Trust Bancorp from a “hold” rating to a “strong-buy” rating in a report on Friday, April 24th. Weiss Ratings upgraded shares of Community Trust Bancorp from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, May 18th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $68.50.

Community Trust Bancorp Stock Performance

Community Trust Bancorp stock traded up $1.36 during midday trading on Thursday, reaching $70.50. 4,354 shares of the stock traded hands, compared to its average volume of 85,370. Community Trust Bancorp has a fifty-two week low of $49.61 and a fifty-two week high of $71.08. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of 12.33 and a beta of 0.54. The firm has a fifty day moving average price of $65.50 and a two-hundred day moving average price of $61.81.

Community Trust Bancorp (NASDAQ:CTBI) last released its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.11. The company had revenue of $74.20 million for the quarter, compared to analysts’ expectations of $73.00 million. Community Trust Bancorp had a return on equity of 12.27% and a net margin of 24.85%. On average, equities research analysts forecast that Community Trust Bancorp will post 6.08 earnings per share for the current year.

Institutional Trading of Community Trust Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in CTBI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Community Trust Bancorp by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,122 shares of the financial services provider’s stock worth $459,000 after buying an additional 381 shares during the last quarter. Millennium Management LLC raised its holdings in Community Trust Bancorp by 116.4% in the 1st quarter. Millennium Management LLC now owns 100,651 shares of the financial services provider’s stock worth $5,069,000 after acquiring an additional 54,130 shares during the period. Jane Street Group LLC lifted its position in Community Trust Bancorp by 158.5% during the 1st quarter. Jane Street Group LLC now owns 28,493 shares of the financial services provider’s stock worth $1,435,000 after acquiring an additional 17,470 shares during the last quarter. Strs Ohio acquired a new position in Community Trust Bancorp during the 1st quarter worth $86,000. Finally, Rhumbline Advisers boosted its holdings in Community Trust Bancorp by 4.5% during the second quarter. Rhumbline Advisers now owns 24,696 shares of the financial services provider’s stock valued at $1,307,000 after acquiring an additional 1,074 shares during the period. Institutional investors and hedge funds own 60.20% of the company’s stock.

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.