Community Trust Bancorp Inc. (CTBI) Upgraded to “Hold” at 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 report released 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. “
Shares of Community Trust Bancorp (NASDAQ:CTBI) traded up 0.95% during midday trading on Monday, hitting $37.29. 22,700 shares of the company were exchanged. The firm has a market capitalization of $653.69 million, a price-to-earnings ratio of 14.12 and a beta of 0.78. Community Trust Bancorp has a one year low of $30.89 and a one year high of $37.49. The firm’s 50 day moving average price is $36.74 and its 200 day moving average price is $35.74.
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Community Trust Bancorp (NASDAQ:CTBI) last released its quarterly earnings data on Wednesday, July 20th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.68 by $0.02. Community Trust Bancorp had a return on equity of 9.61% and a net margin of 24.13%. Analysts forecast that Community Trust Bancorp will post $2.70 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Saturday, October 1st. Shareholders of record on Thursday, September 15th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 3.43%. This is a positive change from Community Trust Bancorp’s previous quarterly dividend of $0.31. The ex-dividend date was Tuesday, September 13th. Community Trust Bancorp’s payout ratio is presently 48.49%.
In other Community Trust Bancorp news, CFO Kevin J. Stumbo sold 1,487 shares of the business’s stock in a transaction that occurred on Friday, September 16th. The shares were sold at an average price of $36.45, for a total transaction of $54,201.15. Following the sale, the chief financial officer now directly 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 at this hyperlink. Also, insider Larry W. Jones sold 5,561 shares of the business’s stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $36.88, for a total transaction of $205,089.68. Following the sale, the insider now directly owns 12,582 shares in the company, valued at $464,024.16. The disclosure for this sale can be found here. Company insiders own 5.10% of the company’s stock.
A number of large investors have recently bought and sold shares of CTBI. Teacher Retirement System of Texas raised its stake 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 last quarter. BlackRock Inc. raised its stake 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 last quarter. Huntington Asset Advisors Inc. acquired a new stake in Community Trust Bancorp during the first quarter worth $155,000. Advisor Group Inc. acquired a new stake in Community Trust Bancorp during the second quarter worth $202,000. Finally, BlackRock Advisors LLC raised its stake 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 last quarter. 53.44% of the stock is currently owned by hedge funds and other institutional investors.
About Community Trust Bancorp
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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