Community Trust Bancorp, Inc. (NASDAQ:CTBI) Cut to Sell at BidaskClub
Community Trust Bancorp, Inc. (NASDAQ:CTBI) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Wednesday.
A number of other brokerages also recently weighed in on CTBI. Zacks Investment Research raised Community Trust Bancorp from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Tuesday, April 11th. Sandler O’Neill raised Community Trust Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, March 29th. Hilliard Lyons raised Community Trust Bancorp from an “underperform” rating to a “neutral” rating and lowered their price target for the stock from $44.00 to $43.00 in a report on Friday, April 21st. Finally, ValuEngine raised Community Trust Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, June 3rd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. Community Trust Bancorp currently has a consensus rating of “Hold” and an average price target of $46.00.
Shares of Community Trust Bancorp (NASDAQ CTBI) traded down 1.28% during mid-day trading on Wednesday, hitting $42.30. 24,234 shares of the stock were exchanged. Community Trust Bancorp has a 12 month low of $34.43 and a 12 month high of $51.35. The firm has a market cap of $745.54 million, a P/E ratio of 15.84 and a beta of 0.69. The stock’s 50 day moving average is $43.46 and its 200 day moving average is $45.02.
Community Trust Bancorp (NASDAQ:CTBI) last issued its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by $0.03. Community Trust Bancorp had a net margin of 23.68% and a return on equity of 9.35%. The company had revenue of $46.55 million for the quarter, compared to the consensus estimate of $46.70 million. Analysts expect that Community Trust Bancorp will post $2.75 EPS for the current fiscal year.
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In other news, insider Andy D. Waters sold 824 shares of the business’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $42.35, for a total value of $34,896.40. Following the completion of the sale, the insider now directly owns 1,268 shares in the company, valued at $53,699.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark A. Gooch sold 5,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $44.79, for a total value of $246,345.00. Following the completion of the sale, the executive vice president now owns 21,206 shares of the company’s stock, valued at $949,816.74. The disclosure for this sale can be found here. 4.80% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of CTBI. Victory Capital Management Inc. purchased a new stake in shares of Community Trust Bancorp during the first quarter worth about $176,000. Numeric Investors LLC bought a new position in Community Trust Bancorp during the fourth quarter worth $203,000. Schroder Investment Management Group raised its position in Community Trust Bancorp by 23.8% in the first quarter. Schroder Investment Management Group now owns 4,267 shares of the financial services provider’s stock worth $198,000 after buying an additional 821 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in Community Trust Bancorp by 3.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,437 shares of the financial services provider’s stock worth $203,000 after buying an additional 136 shares during the period. Finally, Virginia Retirement Systems ET AL bought a new position in Community Trust Bancorp during the first quarter worth $215,000. Institutional investors and hedge funds own 58.97% of the company’s stock.
Community Trust Bancorp Company Profile
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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