Community Trust Bancorp (CTBI) Stock Rating Lowered by Zacks Investment Research
Zacks Investment Research lowered shares of Community Trust Bancorp (NASDAQ:CTBI) from a buy rating to a hold rating in a report issued on Tuesday.
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. “
Several other analysts have also recently weighed in on the stock. BidaskClub upgraded shares of Community Trust Bancorp from a sell rating to a hold rating in a report on Tuesday, January 16th. ValuEngine raised Community Trust Bancorp from a hold rating to a buy rating in a research report on Wednesday, March 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $50.00.
Community Trust Bancorp (NASDAQ:CTBI) last released its quarterly earnings results on Wednesday, January 17th. The financial services provider reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.02). The company had revenue of $47.52 million during the quarter, compared to the consensus estimate of $48.00 million. Community Trust Bancorp had a net margin of 25.22% and a return on equity of 9.52%. equities analysts expect that Community Trust Bancorp will post 3.3 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, April 1st. Shareholders of record on Thursday, March 15th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.78%. The ex-dividend date is Wednesday, March 14th. Community Trust Bancorp’s dividend payout ratio is currently 45.36%.
In other news, Director Chad C. Street acquired 4,000 shares of the stock in a transaction on Friday, December 22nd. The stock was acquired at an average price of $48.79 per share, with a total value of $195,160.00. Following the completion of the transaction, the director now owns 5,000 shares of the company’s stock, valued at approximately $243,950. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 4.80% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. MetLife Investment Advisors LLC purchased a new position in Community Trust Bancorp during the fourth quarter valued at $384,000. Millennium Management LLC purchased a new position in Community Trust Bancorp during the fourth quarter valued at $215,000. Raymond James & Associates lifted its position in Community Trust Bancorp by 7.4% during the fourth quarter. Raymond James & Associates now owns 54,946 shares of the financial services provider’s stock valued at $2,588,000 after buying an additional 3,781 shares during the period. Stone Ridge Asset Management LLC purchased a new position in Community Trust Bancorp during the fourth quarter valued at $457,000. Finally, Deutsche Bank AG lifted its position in Community Trust Bancorp by 81.9% during the fourth quarter. Deutsche Bank AG now owns 43,435 shares of the financial services provider’s stock valued at $2,043,000 after buying an additional 19,560 shares during the period. 58.81% of the stock is owned by institutional investors and hedge funds.
About Community Trust Bancorp
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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