StockNews.com Upgrades Community Trust Bancorp (NASDAQ:CTBI) to “Buy”

Community Trust Bancorp (NASDAQ:CTBIGet Rating) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Wednesday.

Separately, Piper Sandler lowered their price objective on shares of Community Trust Bancorp to $47.00 in a research note on Monday, July 4th.

Community Trust Bancorp Price Performance

Shares of CTBI opened at $41.85 on Wednesday. The company has a market cap of $749.16 million, a price-to-earnings ratio of 9.26 and a beta of 0.74. Community Trust Bancorp has a twelve month low of $39.10 and a twelve month high of $46.30. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.09. The company has a 50 day moving average of $42.85 and a two-hundred day moving average of $41.61.

Community Trust Bancorp (NASDAQ:CTBIGet Rating) last announced its earnings results on Wednesday, July 20th. The financial services provider reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.03. The company had revenue of $55.52 million during the quarter, compared to the consensus estimate of $55.40 million. Community Trust Bancorp had a net margin of 33.81% and a return on equity of 12.02%. As a group, analysts predict that Community Trust Bancorp will post 4.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC purchased a new position in Community Trust Bancorp in the first quarter valued at $27,000. MCF Advisors LLC purchased a new position in Community Trust Bancorp in the first quarter valued at $54,000. Amalgamated Bank purchased a new stake in shares of Community Trust Bancorp during the first quarter worth about $77,000. Great West Life Assurance Co. Can increased its stake in shares of Community Trust Bancorp by 49.5% during the first quarter. Great West Life Assurance Co. Can now owns 1,896 shares of the financial services provider’s stock worth $81,000 after purchasing an additional 628 shares in the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Community Trust Bancorp during the first quarter worth about $86,000. Hedge funds and other institutional investors own 58.79% of the company’s stock.

About Community Trust Bancorp

(Get Rating)

Community Trust Bancorp, Inc operates as the bank holding company for Community Trust Bank, Inc that provides commercial and personal banking services to small and mid-sized communities. The company accepts time and demand deposits, checking accounts, savings accounts and savings certificates, individual retirement accounts and Keogh plans, and money market accounts.

See Also

Receive News & Ratings for Community Trust Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Community Trust Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.