Community Trust Bancorp, Inc. (CTBI) Downgraded by BidaskClub
BidaskClub cut shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) from a sell rating to a strong sell rating in a report issued on Friday morning.
A number of other equities research analysts have also recently issued reports on CTBI. Hilliard Lyons upgraded Community Trust Bancorp from an underperform rating to a neutral rating and dropped their price objective for the stock from $44.00 to $43.00 in a research note on Friday, April 21st. Zacks Investment Research cut Community Trust Bancorp from a buy rating to a hold rating in a research note on Monday, April 24th. Finally, ValuEngine upgraded Community Trust Bancorp from a hold rating to a buy rating in a research note on Saturday, June 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $46.00.
Community Trust Bancorp (NASDAQ CTBI) opened at 41.45 on Friday. The stock has a 50 day moving average of $43.15 and a 200-day moving average of $44.28. Community Trust Bancorp has a 52-week low of $35.75 and a 52-week high of $51.35. The company has a market cap of $730.56 million, a price-to-earnings ratio of 15.52 and a beta of 0.68.
Community Trust Bancorp (NASDAQ:CTBI) last announced its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by $0.03. Community Trust Bancorp had a return on equity of 9.29% and a net margin of 23.68%. The company had revenue of $46.55 million for the quarter, compared to the consensus estimate of $46.70 million. On average, analysts forecast that Community Trust Bancorp will post $2.74 EPS for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 15th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend is Thursday, September 14th. This is a boost from Community Trust Bancorp’s previous quarterly dividend of $0.32. Community Trust Bancorp’s dividend payout ratio is 48.12%.
In related news, insider Andy D. Waters sold 824 shares of the stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $42.35, for a total value of $34,896.40. Following the sale, the insider now owns 1,268 shares in the company, valued at approximately $53,699.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.80% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company boosted its stake in Community Trust Bancorp by 1.4% in the second quarter. The Manufacturers Life Insurance Company now owns 11,987 shares of the financial services provider’s stock worth $524,000 after buying an additional 163 shares during the period. State Street Corp boosted its stake in Community Trust Bancorp by 4.0% in the second quarter. State Street Corp now owns 298,264 shares of the financial services provider’s stock worth $13,047,000 after buying an additional 11,508 shares during the period. Voya Investment Management LLC boosted its stake in Community Trust Bancorp by 6.0% in the second quarter. Voya Investment Management LLC now owns 11,230 shares of the financial services provider’s stock worth $491,000 after buying an additional 637 shares during the period. Bancorpsouth Inc. boosted its stake in Community Trust Bancorp by 8.1% in the second quarter. Bancorpsouth Inc. now owns 10,147 shares of the financial services provider’s stock worth $443,000 after buying an additional 756 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Community Trust Bancorp by 5.6% in the second quarter. Dimensional Fund Advisors LP now owns 952,755 shares of the financial services provider’s stock worth $41,683,000 after buying an additional 50,341 shares during the period. Institutional investors and hedge funds own 57.34% of the company’s stock.
Community Trust Bancorp Company Profile
Community Trust Bancorp, Inc is a bank holding company. The Company holds interests in a commercial bank, Community Trust Bank, Inc (the Bank), and a trust company, Community Trust and Investment Company. Through its subsidiaries, the Company engages in a range of commercial and personal banking, and trust and wealth management activities, which include accepting time and demand deposits; making secured and unsecured loans to corporations, individuals and others; providing cash management services to corporate and individual customers; issuing letters of credit; renting safe deposit boxes, and providing funds transfer services.
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