Community Trust Bancorp (NASDAQ:CTBI) Lowered to “Hold” Rating by Zacks Research

Zacks Research lowered shares of Community Trust Bancorp (NASDAQ:CTBI) from a strong-buy rating to a hold rating in a report released on Tuesday morning,Zacks.com reports.

A number of other equities analysts have also recently weighed in on CTBI. Piper Sandler began coverage on shares of Community Trust Bancorp in a research report on Thursday, June 11th. They set a “neutral” rating and a $76.00 price target on the stock. Weiss Ratings raised shares of Community Trust Bancorp from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, May 18th. One 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.50.

Community Trust Bancorp Stock Down 1.3%

NASDAQ:CTBI opened at $68.08 on Tuesday. The stock’s fifty day moving average price is $66.28 and its two-hundred day moving average price is $62.30. Community Trust Bancorp has a 52-week low of $49.64 and a 52-week high of $71.28. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market cap of $1.24 billion, a price-to-earnings ratio of 11.92 and a beta of 0.54.

Community Trust Bancorp (NASDAQ:CTBI) last issued its earnings results on Wednesday, April 15th. The financial services provider reported $1.50 EPS for the quarter, beating the consensus estimate of $1.39 by $0.11. The company had revenue of $74.20 million during the quarter, compared to analysts’ expectations of $73.00 million. Community Trust Bancorp had a net margin of 24.85% and a return on equity of 12.27%. On average, analysts anticipate that Community Trust Bancorp will post 6.13 EPS for the current year.

Community Trust Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be given a $0.53 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.12 annualized dividend and a dividend yield of 3.1%. Community Trust Bancorp’s dividend payout ratio is presently 37.13%.

Hedge Funds Weigh In On Community Trust Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in 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 during the period. Millennium Management LLC boosted its position in shares of Community Trust Bancorp by 116.4% during the 1st quarter. Millennium Management LLC now owns 100,651 shares of the financial services provider’s stock worth $5,069,000 after acquiring an additional 54,130 shares in the last quarter. Jane Street Group LLC boosted its position in shares of Community Trust Bancorp by 158.5% during the 1st quarter. Jane Street Group LLC now owns 28,493 shares of the financial services provider’s stock worth $1,435,000 after acquiring an additional 17,470 shares in the last quarter. Strs Ohio bought a new position in Community Trust Bancorp in the 1st quarter valued at approximately $86,000. Finally, Rhumbline Advisers lifted its stake in Community Trust Bancorp by 4.5% in the 2nd quarter. Rhumbline Advisers now owns 24,696 shares of the financial services provider’s stock valued at $1,307,000 after purchasing an additional 1,074 shares during the last quarter. Institutional investors and hedge funds own 60.20% of the company’s stock.

Community Trust Bancorp Company Profile

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.