Community Trust Bancorp, Inc. (NASDAQ:CTBI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

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 research analysts have also recently weighed in on the stock. BidaskClub cut shares of Community Trust Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday. ValuEngine upgraded shares of Community Trust Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, June 3rd. Hilliard Lyons upgraded shares of Community Trust Bancorp from an “underperform” rating to a “neutral” rating and dropped their target price for the company from $44.00 to $43.00 in a research note on Friday, April 21st. Finally, Sandler O’Neill upgraded shares of Community Trust Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, March 29th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $46.00.

Shares of Community Trust Bancorp (NASDAQ:CTBI) opened at 42.30 on Friday. The company has a 50-day moving average of $43.46 and a 200 day moving average of $45.02. The firm has a market capitalization of $745.07 million, a P/E ratio of 15.81 and a beta of 0.69. Community Trust Bancorp has a 52 week low of $34.43 and a 52 week high of $51.35.

Community Trust Bancorp (NASDAQ:CTBI) last released its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.68 by $0.03. Community Trust Bancorp had a return on equity of 9.35% and a net margin of 23.68%. The firm had revenue of $46.55 million for the quarter, compared to analysts’ expectations of $46.70 million. Equities research analysts anticipate that Community Trust Bancorp will post $2.75 earnings per share for the current year.

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In other Community Trust Bancorp news, EVP Mark A. Gooch sold 5,500 shares of the business’s stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $44.79, for a total value of $246,345.00. Following the transaction, the executive vice president now directly owns 21,206 shares in the company, valued at $949,816.74. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Andy D. Waters sold 824 shares of the business’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $42.35, for a total transaction of $34,896.40. Following the completion of the transaction, the insider now owns 1,268 shares in the company, valued at $53,699.80. The disclosure for this sale can be found here. 4.80% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. bought a new position in Community Trust Bancorp during the fourth quarter worth $875,000. State Street Corp boosted its position in Community Trust Bancorp by 12.7% in the fourth quarter. State Street Corp now owns 305,572 shares of the financial services provider’s stock worth $15,155,000 after buying an additional 34,368 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Community Trust Bancorp by 4.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 851,451 shares of the financial services provider’s stock worth $42,232,000 after buying an additional 32,789 shares during the last quarter. FMR LLC boosted its position in Community Trust Bancorp by 12.7% in the fourth quarter. FMR LLC now owns 292,850 shares of the financial services provider’s stock worth $14,525,000 after buying an additional 33,000 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in Community Trust Bancorp by 9.8% in the fourth quarter. Renaissance Technologies LLC now owns 194,577 shares of the financial services provider’s stock worth $9,651,000 after buying an additional 17,377 shares during the last quarter. Hedge funds and other institutional investors own 58.97% of the company’s stock.

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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