Community Trust Bancorp Inc. (CTBI) Upgraded to Hold at Zacks Investment Research
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. “
Shares of Community Trust Bancorp (NASDAQ:CTBI) traded down 0.05% during trading on Monday, hitting $37.27. The stock had a trading volume of 6,217 shares. The firm has a 50 day moving average price of $36.74 and a 200 day moving average price of $35.74. Community Trust Bancorp has a 12-month low of $30.89 and a 12-month high of $37.49. The firm has a market cap of $653.34 million, a P/E ratio of 14.12 and a beta of 0.78.
Community Trust Bancorp (NASDAQ:CTBI) last released its earnings results on Wednesday, July 20th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by $0.02. Community Trust Bancorp had a net margin of 24.13% and a return on equity of 9.61%. On average, equities analysts expect that Community Trust Bancorp will post $2.70 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Saturday, October 1st. Shareholders of record on Thursday, September 15th were given a dividend of $0.32 per share. This is an increase from Community Trust Bancorp’s previous quarterly dividend of $0.31. This represents a $1.28 annualized dividend and a yield of 3.43%. The ex-dividend date was Tuesday, September 13th. Community Trust Bancorp’s dividend payout ratio (DPR) is currently 48.49%.
In other news, CFO Kevin J. Stumbo sold 5,295 shares of the firm’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $36.87, for a total transaction of $195,226.65. Following the sale, the chief financial officer now directly owns 7,699 shares in the company, valued at approximately $283,862.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Jean R. Hale sold 12,427 shares of the firm’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $36.95, for a total value of $459,177.65. Following the sale, the chairman now owns 124,926 shares in the company, valued at $4,616,015.70. The disclosure for this sale can be found here. Company insiders own 5.10% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. Teacher Retirement System of Texas boosted its stake in Community Trust Bancorp by 8.3% in the second quarter. Teacher Retirement System of Texas now owns 3,539 shares of the financial services provider’s stock worth $123,000 after buying an additional 271 shares during the period. BlackRock Inc. boosted its stake in Community Trust Bancorp by 195.5% in the second quarter. BlackRock Inc. now owns 3,989 shares of the financial services provider’s stock worth $138,000 after buying an additional 2,639 shares during the period. Huntington Asset Advisors Inc. acquired a new stake in Community Trust Bancorp during the first quarter worth approximately $155,000. Advisor Group Inc. acquired a new stake in Community Trust Bancorp during the second quarter worth approximately $202,000. Finally, BlackRock Advisors LLC boosted its stake in Community Trust Bancorp by 1.5% in the second quarter. BlackRock Advisors LLC now owns 7,757 shares of the financial services provider’s stock worth $269,000 after buying an additional 115 shares during the period. Hedge funds and other institutional investors own 53.44% of the company’s stock.
Community Trust Bancorp Company Profile
Community Trust Bancorp, Inc (CTBI) is a bank holding company. The Company operates in the community banking services segment. The Company owns a commercial bank and a trust company, serving small and mid-sized communities in eastern, northeastern, central and south central Kentucky; southern West Virginia, and northeastern Tennessee.
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