Community Trust Bancorp (NASDAQ:CTBI) Stock Rating Upgraded by Raymond James Financial

Community Trust Bancorp (NASDAQ:CTBI) was upgraded by analysts at Raymond James Financial from an “outperform” rating to a “moderate buy” rating in a research report issued to clients and investors on Tuesday, MarketBeat.com reports.

Several other brokerages also recently weighed in on CTBI. Piper Sandler upped their target price on shares of Community Trust Bancorp from $76.00 to $81.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Zacks Research cut shares of Community Trust Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. Finally, Weiss Ratings upgraded shares of Community Trust Bancorp from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $81.50.

Community Trust Bancorp Stock Performance

NASDAQ CTBI opened at $77.06 on Tuesday. The company has a market cap of $1.40 billion, a P/E ratio of 12.91 and a beta of 0.52. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a 50-day moving average of $75.71 and a two-hundred day moving average of $68.29. Community Trust Bancorp has a 1-year low of $50.25 and a 1-year high of $79.92.

Community Trust Bancorp (NASDAQ:CTBI) last issued its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.12. Community Trust Bancorp had a net margin of 25.55% and a return on equity of 12.52%. The business had revenue of $78.49 million for the quarter, compared to analysts’ expectations of $76.85 million. As a group, analysts anticipate that Community Trust Bancorp will post 6.41 EPS for the current year.

Insider Buying and Selling at Community Trust Bancorp

In related news, Director Franky Minnifield sold 3,900 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $78.85, for a total value of $307,515.00. Following the sale, the director owned 8,320 shares of the company’s stock, valued at $656,032. This trade represents a 31.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Community Trust Bancorp

A number of large investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Community Trust Bancorp by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,122 shares of the financial services provider’s stock valued at $459,000 after purchasing an additional 381 shares in the last quarter. Millennium Management LLC grew its stake in shares of Community Trust Bancorp by 116.4% during the first quarter. Millennium Management LLC now owns 100,651 shares of the financial services provider’s stock worth $5,069,000 after purchasing an additional 54,130 shares in the last quarter. Jane Street Group LLC increased its holdings in Community Trust Bancorp by 158.5% in the first quarter. Jane Street Group LLC now owns 28,493 shares of the financial services provider’s stock valued at $1,435,000 after buying an additional 17,470 shares during the last quarter. Strs Ohio purchased a new position in Community Trust Bancorp in the first quarter valued at $86,000. Finally, Rhumbline Advisers raised its stake in Community Trust Bancorp by 4.5% in the second quarter. Rhumbline Advisers now owns 24,696 shares of the financial services provider’s stock valued at $1,307,000 after buying an additional 1,074 shares in the last quarter. 60.20% of the stock is owned by hedge funds and other institutional investors.

About Community Trust Bancorp

Community Trust Bancorp, Inc is a bank holding company headquartered in Pikeville, Kentucky. As the parent of Community Trust Bank, the company provides a comprehensive range of banking services to individuals, families and businesses throughout eastern Kentucky, southern West Virginia and northeast Tennessee. With origins dating back to the early 20th century, the organization has built a reputation for supporting community development and regional economic growth across the Appalachian region.

The company’s personal banking offerings include checking and savings accounts, consumer installment loans, home equity and mortgage lending, as well as online and mobile banking platforms.