Community Trust Bancorp (NASDAQ:CTBI) Lowered to “Sell” at BidaskClub

Community Trust Bancorp (NASDAQ:CTBI) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Saturday, January 6th.

Separately, Zacks Investment Research upgraded shares of Community Trust Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, October 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Community Trust Bancorp has an average rating of “Hold” and a consensus target price of $50.00.

Community Trust Bancorp (NASDAQ:CTBI) traded up $0.15 during mid-day trading on Friday, reaching $50.20. The company’s stock had a trading volume of 36,575 shares, compared to its average volume of 31,470. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market capitalization of $888.18, a PE ratio of 18.25 and a beta of 0.68. Community Trust Bancorp has a 12 month low of $40.33 and a 12 month high of $51.90.

Community Trust Bancorp (NASDAQ:CTBI) last posted its earnings results on Wednesday, October 18th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. Community Trust Bancorp had a return on equity of 9.47% and a net margin of 24.15%. The company had revenue of $47.17 million for the quarter, compared to analysts’ expectations of $48.17 million. analysts predict that Community Trust Bancorp will post 2.81 EPS for the current fiscal year.

In related news, Chairman Jean R. Hale sold 6,875 shares of Community Trust Bancorp stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $50.60, for a total value of $347,875.00. Following the transaction, the chairman now owns 126,397 shares of the company’s stock, valued at approximately $6,395,688.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Chad C. Street purchased 4,000 shares of the company’s stock in a transaction that occurred on Friday, December 22nd. The stock was bought at an average cost of $48.79 per share, for a total transaction of $195,160.00. Following the purchase, the director now directly owns 5,000 shares in the company, valued at approximately $243,950. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 11,774 shares of company stock worth $593,927. 4.80% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in Community Trust Bancorp during the 3rd quarter worth about $104,000. BNP Paribas Arbitrage SA boosted its position in Community Trust Bancorp by 350.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,555 shares of the financial services provider’s stock worth $112,000 after acquiring an additional 1,988 shares during the period. Legal & General Group Plc boosted its position in Community Trust Bancorp by 4.3% during the 2nd 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 period. Victory Capital Management Inc. boosted its position in Community Trust Bancorp by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 4,527 shares of the financial services provider’s stock worth $198,000 after acquiring an additional 679 shares during the period. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in Community Trust Bancorp during the 3rd quarter worth about $211,000. Hedge funds and other institutional investors own 56.08% of the company’s stock.

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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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