Community Trust Bancorp (CTBI) Upgraded to “Buy” by ValuEngine

Community Trust Bancorp (NASDAQ:CTBI) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

A number of other analysts have also weighed in on CTBI. BidaskClub upgraded Community Trust Bancorp from a “hold” rating to a “buy” rating in a research note on Tuesday, April 24th. Zacks Investment Research upgraded Community Trust Bancorp from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research note on Friday, April 20th.

NASDAQ:CTBI traded up $0.40 during midday trading on Thursday, hitting $51.00. 31,604 shares of the company traded hands, compared to its average volume of 45,015. Community Trust Bancorp has a 12-month low of $49.90 and a 12-month high of $50.40. The firm has a market capitalization of $884.49 million, a PE ratio of 18.21 and a beta of 0.67. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.92 and a current ratio of 0.92.

Community Trust Bancorp (NASDAQ:CTBI) last released its quarterly earnings results on Wednesday, April 18th. The financial services provider reported $0.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.13. Community Trust Bancorp had a return on equity of 10.24% and a net margin of 26.71%. The company had revenue of $47.90 million for the quarter, compared to analyst estimates of $47.10 million. equities analysts forecast that Community Trust Bancorp will post 3.34 EPS for the current year.

A number of hedge funds have recently added to or reduced their stakes in CTBI. Millennium Management LLC purchased a new stake in Community Trust Bancorp in the fourth quarter worth $215,000. Teacher Retirement System of Texas purchased a new stake in Community Trust Bancorp in the fourth quarter worth $260,000. Legal & General Group Plc increased its stake in Community Trust Bancorp by 48.8% in the first quarter. Legal & General Group Plc now owns 5,958 shares of the financial services provider’s stock worth $270,000 after purchasing an additional 1,953 shares during the period. MetLife Investment Advisors LLC purchased a new stake in Community Trust Bancorp in the fourth quarter worth $384,000. Finally, Stone Ridge Asset Management LLC purchased a new stake in Community Trust Bancorp in the fourth quarter worth $457,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

About Community Trust Bancorp

Community Trust Bancorp, Inc operates as the bank holding company for Community Trust Bank, Inc that provides commercial and personal banking services to small and mid-sized communities. The company accepts time and demand deposits, Keogh plans, and savings certificates, as well as checking and savings, individual retirement, NOW, and money market accounts.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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