Community Trust Bancorp Inc. (CTBI) Stock Rating Upgraded by Zacks Investment Research
Community Trust Bancorp Inc. (NASDAQ:CTBI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.
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) traded up 0.95% during midday trading on Monday, hitting $37.29. 22,700 shares of the company’s stock traded hands. The company has a market capitalization of $653.69 million, a PE ratio of 14.12 and a beta of 0.78. The company has a 50 day moving average of $36.74 and a 200-day moving average of $35.74. Community Trust Bancorp has a 52 week low of $30.89 and a 52 week high of $37.49.
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Community Trust Bancorp (NASDAQ:CTBI) last announced its quarterly 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%. Equities research analysts predict that Community Trust Bancorp will post $2.70 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Saturday, October 1st. Stockholders of record on Thursday, September 15th were issued a dividend of $0.32 per share. This is an increase from Community Trust Bancorp’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $1.28 annualized dividend and a dividend yield of 3.43%. Community Trust Bancorp’s payout ratio is 48.49%.
In other news, Chairman Jean R. Hale sold 12,427 shares of the business’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $36.95, for a total transaction of $459,177.65. Following the completion of the transaction, the chairman now owns 124,926 shares of the company’s stock, valued at $4,616,015.70. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Mark A. Gooch sold 9,532 shares of Community Trust Bancorp stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $37.19, for a total transaction of $354,495.08. Following the sale, the executive vice president now owns 19,585 shares in the company, valued at $728,366.15. The disclosure for this sale can be found here. Insiders own 5.10% of the company’s stock.
Several large investors have recently modified their holdings of the stock. Teacher Retirement System of Texas boosted its stake in shares of 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 in the last quarter. BlackRock Inc. boosted its stake in shares of 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 in the last quarter. Huntington Asset Advisors Inc. bought a new stake in shares of Community Trust Bancorp during the first quarter worth $155,000. Advisor Group Inc. bought a new stake in shares of Community Trust Bancorp during the second quarter worth $202,000. Finally, BlackRock Advisors LLC boosted its stake in shares of 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 in the last quarter. Institutional investors and hedge funds 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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