Zacks Investment Research upgraded shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) from a sell rating to a hold rating in a research report released on Tuesday morning.
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. “
Separately, BidaskClub cut shares of Community Trust Bancorp from a sell rating to a strong sell rating in a research report on Friday, August 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $43.00.
Shares of Community Trust Bancorp (NASDAQ CTBI) opened at 47.40 on Tuesday. The firm has a 50 day moving average of $43.73 and a 200-day moving average of $43.65. The stock has a market capitalization of $835.43 million, a P/E ratio of 17.75 and a beta of 0.70. Community Trust Bancorp has a 12 month low of $35.85 and a 12 month high of $51.35.
Community Trust Bancorp (NASDAQ:CTBI) last posted its earnings results on Wednesday, July 19th. The financial services provider reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.03). Community Trust Bancorp had a return on equity of 9.29% and a net margin of 23.68%. The firm had revenue of $46.55 million for the quarter, compared to analyst estimates of $46.70 million. Analysts forecast that Community Trust Bancorp will post $2.74 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Sunday, October 1st. Investors of record on Friday, September 15th were issued a $0.33 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This is a boost from Community Trust Bancorp’s previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a yield of 2.78%. Community Trust Bancorp’s dividend payout ratio is currently 49.62%.
Hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA increased its stake in Community Trust Bancorp by 350.6% during the second quarter. BNP Paribas Arbitrage SA now owns 2,555 shares of the financial services provider’s stock valued at $112,000 after purchasing an additional 1,988 shares during the last quarter. Legal & General Group Plc grew its position in shares of Community Trust Bancorp by 4.3% during the second quarter. Legal & General Group Plc now owns 3,793 shares of the financial services provider’s stock worth $166,000 after acquiring an additional 156 shares during the last quarter. Victory Capital Management Inc. bought a new position in shares of Community Trust Bancorp during the first quarter worth about $176,000. Schroder Investment Management Group grew its position in shares of Community Trust Bancorp by 23.8% during the first quarter. Schroder Investment Management Group now owns 4,267 shares of the financial services provider’s stock worth $198,000 after acquiring an additional 821 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its position in shares of Community Trust Bancorp by 3.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,437 shares of the financial services provider’s stock worth $203,000 after acquiring an additional 136 shares during the last quarter. Hedge funds and other institutional investors own 56.72% of the company’s stock.
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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