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.

TRADEMARK VIOLATION WARNING: This piece was published by American Banking News and is the sole property of of American Banking News. If you are accessing this piece on another publication, it was illegally stolen and reposted in violation of US & international copyright and trademark legislation. The correct version of this piece can be read at https://www.americanbankingnews.com/2017/07/23/community-trust-bancorp-inc-nasdaqctbi-cut-to-sell-at-bidaskclub.html.

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.

Receive News & Ratings for Community Trust Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Community Trust Bancorp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.