Community Trust Bancorp’s (CTBI) Buy (B-) Rating Reiterated at Weiss Ratings

Weiss Ratings reaffirmed their buy (b-) rating on shares of Community Trust Bancorp (NASDAQ:CTBI) in a research report released on Thursday morning,Weiss Ratings reports.

A number of other brokerages have also recently issued reports on CTBI. Raymond James Financial set a $61.00 target price on Community Trust Bancorp in a report on Wednesday, October 15th. Piper Sandler assumed coverage on Community Trust Bancorp in a report on Monday, August 18th. They issued an “overweight” rating and a $66.00 target price for the company. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $63.50.

Community Trust Bancorp Price Performance

Shares of CTBI stock opened at $51.19 on Thursday. The stock has a 50 day moving average of $55.54 and a two-hundred day moving average of $53.72. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. Community Trust Bancorp has a 12 month low of $44.60 and a 12 month high of $61.67. The company has a market capitalization of $927.05 million, a P/E ratio of 9.90 and a beta of 0.57.

Community Trust Bancorp (NASDAQ:CTBI) last announced its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $1.32 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.06). Community Trust Bancorp had a return on equity of 11.91% and a net margin of 23.24%.The firm had revenue of $71.50 million during the quarter, compared to the consensus estimate of $71.85 million. As a group, equities analysts expect that Community Trust Bancorp will post 5.06 EPS for the current year.

Community Trust Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 15th will be given a dividend of $0.53 per share. The ex-dividend date is Monday, December 15th. This represents a $2.12 dividend on an annualized basis and a yield of 4.1%. Community Trust Bancorp’s dividend payout ratio is 41.01%.

Insider Buying and Selling

In related news, EVP Andy D. Waters sold 918 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $56.18, for a total transaction of $51,573.24. Following the sale, the executive vice president directly owned 632 shares in the company, valued at $35,505.76. This represents a 59.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Community Trust Bancorp

A number of large investors have recently bought and sold shares of the business. Community Trust & Investment Co. grew its position in Community Trust Bancorp by 3.0% during the 2nd quarter. Community Trust & Investment Co. now owns 1,979,076 shares of the financial services provider’s stock worth $104,733,000 after acquiring an additional 58,142 shares during the last quarter. Vanguard Group Inc. grew its position in Community Trust Bancorp by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 921,499 shares of the financial services provider’s stock worth $46,407,000 after acquiring an additional 35,815 shares during the last quarter. Geode Capital Management LLC grew its position in Community Trust Bancorp by 4.6% during the 2nd quarter. Geode Capital Management LLC now owns 413,312 shares of the financial services provider’s stock worth $21,872,000 after acquiring an additional 17,995 shares during the last quarter. American Century Companies Inc. grew its position in Community Trust Bancorp by 7.0% during the 2nd quarter. American Century Companies Inc. now owns 411,444 shares of the financial services provider’s stock worth $21,774,000 after acquiring an additional 26,826 shares during the last quarter. Finally, Northern Trust Corp grew its position in Community Trust Bancorp by 8.4% during the 1st quarter. Northern Trust Corp now owns 384,942 shares of the financial services provider’s stock worth $19,386,000 after acquiring an additional 29,864 shares during the last quarter. 60.20% of the stock is currently owned by institutional investors.

About Community Trust Bancorp

Community Trust Bancorp, Inc operates as the bank holding company for Community Trust Bank, Inc that engages in the provision of commercial and personal banking, and trust and wealth management services to small and mid-sized communities in eastern, northeastern, central, and south-central Kentucky, as well as southern West Virginia, and northeastern Tennessee.