Community Trust Bancorp (NASDAQ:CTBI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday, March 14th. The brokerage currently has a $53.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 14.59% from the stock’s current price.
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. “
A number of other equities research analysts have also weighed in on the stock. BidaskClub lowered shares of Community Trust Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. ValuEngine raised shares of Community Trust Bancorp from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $48.00.
Community Trust Bancorp (NASDAQ:CTBI) traded down $0.75 during trading hours on Wednesday, reaching $46.25. 8,079 shares of the company’s stock traded hands, compared to its average volume of 46,259. The stock has a market capitalization of $830.63, a price-to-earnings ratio of 16.15 and a beta of 0.71. Community Trust Bancorp has a one year low of $40.33 and a one year high of $51.90. 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 (NASDAQ:CTBI) last released its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.72 EPS for the quarter, missing the Zacks’ consensus estimate of $0.74 by ($0.02). The business had revenue of $47.52 million during the quarter, compared to analyst estimates of $48.00 million. Community Trust Bancorp had a net margin of 25.22% and a return on equity of 9.52%. research analysts predict that Community Trust Bancorp will post 3.3 EPS for the current year.
In other Community Trust Bancorp news, Director Chad C. Street bought 4,000 shares of the business’s stock in a transaction on Friday, December 22nd. The stock was bought at an average price of $48.79 per share, for a total transaction of $195,160.00. Following the completion of the transaction, the director now owns 5,000 shares in the company, valued at approximately $243,950. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.80% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. grew its stake in Community Trust Bancorp by 1.3% during the fourth quarter. BlackRock Inc. now owns 1,134,307 shares of the financial services provider’s stock worth $53,425,000 after buying an additional 14,903 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Community Trust Bancorp by 2.7% in the third quarter. Dimensional Fund Advisors LP now owns 978,098 shares of the financial services provider’s stock valued at $45,482,000 after purchasing an additional 25,343 shares during the period. Dalton Greiner Hartman Maher & Co. boosted its stake in Community Trust Bancorp by 4.6% during the 4th quarter. Dalton Greiner Hartman Maher & Co. now owns 505,257 shares of the financial services provider’s stock valued at $23,798,000 after acquiring an additional 22,070 shares during the last quarter. State Street Corp boosted its stake in Community Trust Bancorp by 4.0% during the 2nd quarter. State Street Corp now owns 298,264 shares of the financial services provider’s stock valued at $13,047,000 after acquiring an additional 11,508 shares during the last quarter. Finally, Prudential Financial Inc. boosted its stake in Community Trust Bancorp by 1.6% during the 3rd quarter. Prudential Financial Inc. now owns 127,729 shares of the financial services provider’s stock valued at $5,939,000 after acquiring an additional 2,070 shares during the last quarter. 58.75% of the stock is owned by hedge funds and other institutional investors.
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Community Trust Bancorp Company Profile
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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