Community Trust Bancorp (NASDAQ:CTBI) Cut to “Hold” at Zacks Research

Community Trust Bancorp (NASDAQ:CTBI) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

Other equities research analysts have also issued reports about the stock. Weiss Ratings upgraded shares of Community Trust Bancorp from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, May 18th. Piper Sandler started coverage on shares of Community Trust Bancorp in a research note on Thursday, June 11th. They set a “neutral” rating and a $76.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $68.50.

Community Trust Bancorp Price Performance

Shares of NASDAQ:CTBI opened at $68.08 on Tuesday. The company has a 50-day moving average price of $66.28 and a two-hundred day moving average price of $62.30. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.08. Community Trust Bancorp has a twelve month low of $49.64 and a twelve month high of $71.28. The firm has a market capitalization of $1.24 billion, a PE ratio of 11.92 and a beta of 0.54.

Community Trust Bancorp (NASDAQ:CTBI) last released its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.11. Community Trust Bancorp had a net margin of 24.85% and a return on equity of 12.27%. The company had revenue of $74.20 million during the quarter, compared to analyst estimates of $73.00 million. Equities analysts forecast that Community Trust Bancorp will post 6.13 EPS for the current year.

Institutional Trading of Community Trust Bancorp

A number of hedge funds have recently modified their holdings of the business. Bank of America Corp DE boosted its holdings in shares of Community Trust Bancorp by 26.8% during the 1st quarter. Bank of America Corp DE now owns 38,716 shares of the financial services provider’s stock valued at $2,351,000 after buying an additional 8,174 shares in the last quarter. Janus Henderson Group PLC raised its position in Community Trust Bancorp by 114.0% in the 1st quarter. Janus Henderson Group PLC now owns 192,413 shares of the financial services provider’s stock worth $11,684,000 after buying an additional 102,488 shares during the last quarter. California State Teachers Retirement System raised its position in Community Trust Bancorp by 22.0% in the 1st quarter. California State Teachers Retirement System now owns 17,314 shares of the financial services provider’s stock worth $1,051,000 after buying an additional 3,121 shares during the last quarter. Empowered Funds LLC raised its position in Community Trust Bancorp by 6.1% in the 1st quarter. Empowered Funds LLC now owns 80,948 shares of the financial services provider’s stock worth $4,915,000 after buying an additional 4,638 shares during the last quarter. Finally, Quantinno Capital Management LP increased its position in shares of Community Trust Bancorp by 61.4% during the 1st quarter. Quantinno Capital Management LP now owns 20,026 shares of the financial services provider’s stock valued at $1,216,000 after purchasing an additional 7,622 shares during the last quarter. Institutional investors own 60.20% of the company’s stock.

Community Trust Bancorp Company Profile

Community Trust Bancorp, Inc is a bank holding company headquartered in Pikeville, Kentucky. As the parent of Community Trust Bank, the company provides a comprehensive range of banking services to individuals, families and businesses throughout eastern Kentucky, southern West Virginia and northeast Tennessee. With origins dating back to the early 20th century, the organization has built a reputation for supporting community development and regional economic growth across the Appalachian region.

The company’s personal banking offerings include checking and savings accounts, consumer installment loans, home equity and mortgage lending, as well as online and mobile banking platforms.