Community Trust Bancorp, Inc. (NASDAQ:CTBI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Thursday.
According to Zacks, “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. “
Other equities research analysts have also recently issued reports about the company. BidaskClub cut Community Trust Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. ValuEngine raised Community Trust Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, June 3rd. Finally, Hilliard Lyons raised Community Trust Bancorp from an “underperform” rating to a “neutral” rating and lowered their target price for the company from $44.00 to $43.00 in a research note on Friday, April 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $46.00.
Shares of Community Trust Bancorp (NASDAQ:CTBI) traded down 0.59% during mid-day trading on Thursday, hitting $42.40. The stock had a trading volume of 39,319 shares. Community Trust Bancorp has a 12-month low of $35.30 and a 12-month high of $51.35. The stock has a market cap of $747.30 million, a price-to-earnings ratio of 15.88 and a beta of 0.68. The firm’s 50-day moving average price is $43.31 and its 200 day moving average price is $44.50.
Community Trust Bancorp (NASDAQ:CTBI) last released its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.65 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.68 by $0.03. Community Trust Bancorp had a net margin of 23.68% and a return on equity of 9.29%. The business had revenue of $46.55 million for the quarter, compared to analyst estimates of $46.70 million. Equities analysts forecast that Community Trust Bancorp will post $2.74 EPS for the current fiscal year.
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In other news, insider Andy D. Waters sold 824 shares of Community Trust Bancorp stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $42.35, for a total value of $34,896.40. Following the completion of the sale, the insider now directly owns 1,268 shares of the company’s stock, valued at approximately $53,699.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 4.80% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA boosted its stake in Community Trust Bancorp by 350.6% in the second quarter. BNP Paribas Arbitrage SA now owns 2,555 shares of the financial services provider’s stock valued at $112,000 after buying an additional 1,988 shares during the period. Legal & General Group Plc boosted its stake in Community Trust Bancorp by 4.3% in the second quarter. Legal & General Group Plc now owns 3,793 shares of the financial services provider’s stock valued at $166,000 after buying an additional 156 shares during the period. Victory Capital Management Inc. purchased a new stake in Community Trust Bancorp during the first quarter valued at approximately $176,000. Schroder Investment Management Group boosted its stake in Community Trust Bancorp by 23.8% in the first quarter. Schroder Investment Management Group now owns 4,267 shares of the financial services provider’s stock valued at $198,000 after buying an additional 821 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in Community Trust Bancorp by 3.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,437 shares of the financial services provider’s stock valued at $203,000 after buying an additional 136 shares during the period. 57.34% of the stock is owned by institutional investors.
About Community Trust Bancorp
Community Trust Bancorp, Inc is a bank holding company. The Company holds interests in a commercial bank, Community Trust Bank, Inc (the Bank), and a trust company, Community Trust and Investment Company. Through its subsidiaries, the Company 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 corporations, 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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