Zacks Investment Research upgraded shares of Community Trust Bancorp (NASDAQ:CTBI) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning. Zacks Investment Research currently has $53.00 target price on the financial services provider’s stock.
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 analysts have also recently issued research reports about the company. ValuEngine upgraded Community Trust Bancorp from a hold rating to a buy rating in a report on Wednesday, March 7th. BidaskClub upgraded Community Trust Bancorp from a sell rating to a hold rating in a report on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $48.00.
Shares of Community Trust Bancorp (NASDAQ CTBI) traded down $0.05 on Wednesday, reaching $46.40. The company’s stock had a trading volume of 8,390 shares, compared to its average volume of 45,928. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.93 and a current ratio of 0.93. Community Trust Bancorp has a 12-month low of $40.33 and a 12-month high of $51.90. The company has a market capitalization of $841.27, a PE ratio of 15.96 and a beta of 0.71.
Community Trust Bancorp (NASDAQ:CTBI) last released its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.72 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by ($0.02). Community Trust Bancorp had a net margin of 25.22% and a return on equity of 9.52%. The business had revenue of $47.52 million for the quarter, compared to the consensus estimate of $48.00 million. equities analysts expect that Community Trust Bancorp will post 3.3 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, April 1st. Stockholders of record on Thursday, March 15th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.84%. The ex-dividend date is Wednesday, March 14th. Community Trust Bancorp’s dividend payout ratio (DPR) is presently 45.36%.
In other Community Trust Bancorp news, Director Chad C. Street acquired 4,000 shares of the business’s stock in a transaction dated Friday, December 22nd. The shares were acquired at an average price of $48.79 per share, for a total transaction of $195,160.00. Following the acquisition, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $243,950. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.80% of the company’s stock.
Several large investors have recently added to or reduced their stakes in CTBI. SG Americas Securities LLC bought a new position in shares of Community Trust Bancorp during the 3rd quarter valued at about $104,000. Cambridge Investment Research Advisors Inc. acquired a new stake in Community Trust Bancorp in the 3rd quarter valued at approximately $211,000. Millennium Management LLC acquired a new stake in Community Trust Bancorp in the 4th quarter valued at approximately $215,000. Teacher Retirement System of Texas acquired a new stake in Community Trust Bancorp in the 4th quarter valued at approximately $260,000. Finally, MetLife Investment Advisors LLC acquired a new stake in Community Trust Bancorp in the 4th quarter valued at approximately $384,000. Institutional investors and hedge funds own 58.81% 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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