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

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. “

Separately, BidaskClub downgraded shares of Community Trust Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $43.00.

Community Trust Bancorp (CTBI) traded up 1.17% on Tuesday, hitting $47.40. 28,934 shares of the company’s stock were exchanged. The stock has a market cap of $835.43 million, a P/E ratio of 17.75 and a beta of 0.70. The firm has a 50 day moving average price of $43.73 and a 200-day moving average price of $43.65. Community Trust Bancorp has a 52-week low of $35.85 and a 52-week high of $51.35.

Community Trust Bancorp (NASDAQ:CTBI) last announced its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.65 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.68 by ($0.03). Community Trust Bancorp had a net margin of 23.68% and a return on equity of 9.29%. The firm had revenue of $46.55 million for the quarter, compared to analysts’ expectations of $46.70 million. Analysts predict that Community Trust Bancorp will post $2.74 earnings per share for the current fiscal year.

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A number of hedge funds have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company grew its position in Community Trust Bancorp by 1.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,987 shares of the financial services provider’s stock valued at $524,000 after purchasing an additional 163 shares during the last quarter. State Street Corp grew its position in Community Trust Bancorp by 4.0% during the 2nd quarter. State Street Corp now owns 298,264 shares of the financial services provider’s stock valued at $13,047,000 after purchasing an additional 11,508 shares during the last quarter. Voya Investment Management LLC grew its position in Community Trust Bancorp by 6.0% during the 2nd quarter. Voya Investment Management LLC now owns 11,230 shares of the financial services provider’s stock valued at $491,000 after purchasing an additional 637 shares during the last quarter. Bancorpsouth Inc. grew its position in Community Trust Bancorp by 8.1% during the 2nd quarter. Bancorpsouth Inc. now owns 10,147 shares of the financial services provider’s stock valued at $443,000 after purchasing an additional 756 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Community Trust Bancorp by 5.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 952,755 shares of the financial services provider’s stock valued at $41,683,000 after purchasing an additional 50,341 shares during the last quarter. 56.72% of the stock is currently owned by institutional investors.

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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