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 to investors on Tuesday.
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 “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $43.00.
Community Trust Bancorp (CTBI) traded up 1.17% during midday trading on Tuesday, reaching $47.40. 28,934 shares of the company traded hands. Community Trust Bancorp has a one year low of $35.85 and a one year high of $51.35. The company has a market capitalization of $835.43 million, a price-to-earnings ratio of 17.75 and a beta of 0.70. The stock’s 50 day moving average is $43.73 and its 200 day moving average is $43.65.
Community Trust Bancorp (NASDAQ:CTBI) last issued its quarterly 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 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 the consensus estimate of $46.70 million. On average, equities analysts anticipate that Community Trust Bancorp will post $2.74 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of CTBI. Russell Investments Group Ltd. grew its position in Community Trust Bancorp by 63.7% during the first quarter. Russell Investments Group Ltd. now owns 28,977 shares of the financial services provider’s stock valued at $1,326,000 after acquiring an additional 11,280 shares during the last quarter. First Trust Advisors LP grew its position in Community Trust Bancorp by 3.2% during the first quarter. First Trust Advisors LP now owns 49,875 shares of the financial services provider’s stock valued at $2,282,000 after acquiring an additional 1,529 shares during the last quarter. Bank of New York Mellon Corp grew its position in Community Trust Bancorp by 6.2% during the first quarter. Bank of New York Mellon Corp now owns 121,242 shares of the financial services provider’s stock valued at $5,547,000 after acquiring an additional 7,111 shares during the last quarter. Karp Capital Management Corp bought a new position in Community Trust Bancorp during the first quarter valued at approximately $422,000. Finally, Parametric Portfolio Associates LLC grew its position in Community Trust Bancorp by 16.6% during the first quarter. Parametric Portfolio Associates LLC now owns 57,584 shares of the financial services provider’s stock valued at $2,634,000 after acquiring an additional 8,219 shares during the last quarter. Institutional investors and hedge funds own 56.72% of the company’s stock.
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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