Zacks Investment Research Upgrades Community Trust Bancorp Inc. (CTBI) to Hold
Community Trust Bancorp Inc. (NASDAQ:CTBI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
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. “
Community Trust Bancorp (NASDAQ:CTBI) opened at 43.30 on Thursday. Community Trust Bancorp has a 12-month low of $30.89 and a 12-month high of $43.70. The company’s 50-day moving average price is $38.46 and its 200-day moving average price is $36.44. The company has a market cap of $760.09 million, a PE ratio of 16.04 and a beta of 0.54.
Community Trust Bancorp (NASDAQ:CTBI) last issued its quarterly earnings results on Wednesday, October 19th. The financial services provider reported $0.70 EPS for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.01. Community Trust Bancorp had a net margin of 24.46% and a return on equity of 9.69%. Equities analysts anticipate that Community Trust Bancorp will post $2.70 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, January 1st. Stockholders of record on Thursday, December 15th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.96%. Community Trust Bancorp’s dividend payout ratio (DPR) is presently 47.41%.
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In other news, CFO Kevin J. Stumbo sold 1,487 shares of the stock in a transaction dated Friday, September 16th. The shares were sold at an average price of $36.45, for a total transaction of $54,201.15. Following the transaction, the chief financial officer now owns 917 shares of the company’s stock, valued at approximately $33,424.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Larry W. Jones sold 5,561 shares of the stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $36.88, for a total transaction of $205,089.68. Following the transaction, the insider now directly owns 12,582 shares in the company, valued at approximately $464,024.16. The disclosure for this sale can be found here. Insiders own 5.10% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in CTBI. Teacher Retirement System of Texas boosted its position 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 position 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. Advisor Group Inc. bought a new position in Community Trust Bancorp during the second quarter worth about $202,000. UBS Asset Management Americas Inc. bought a new position in Community Trust Bancorp during the third quarter worth about $216,000. Finally, BlackRock Advisors LLC boosted its position 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. 53.53% of the stock is currently owned by institutional investors.
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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