Community Trust Bancorp, Inc. (NASDAQ:CTBI) has earned a consensus broker rating score of 3.67 (Sell) from the three brokers that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong sell rating and two have assigned a hold rating to the company.
Brokerages have set a 1-year consensus target price of $44.25 for the company and are predicting that the company will post $0.67 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Community Trust Bancorp an industry rank of 49 out of 265 based on the ratings given to related companies.
Several brokerages recently issued reports on CTBI. Zacks Investment Research downgraded shares of Community Trust Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, March 13th. Hilliard Lyons raised shares of Community Trust Bancorp from an “underperform” rating to a “neutral” rating and set a $44.00 price objective on the stock in a research note on Tuesday, January 24th. Finally, Sandler O’Neill downgraded shares of Community Trust Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, January 19th.
Community Trust Bancorp (NASDAQ:CTBI) last released its quarterly earnings data on Wednesday, January 18th. The financial services provider reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by $0.02. Community Trust Bancorp had a return on equity of 9.60% and a net margin of 24.28%. The company had revenue of $45.93 million for the quarter, compared to analysts’ expectations of $46.70 million. Equities analysts anticipate that Community Trust Bancorp will post $2.75 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Saturday, April 1st. Investors of record on Wednesday, March 15th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend was Monday, March 13th. Community Trust Bancorp’s dividend payout ratio (DPR) is 47.58%.
In related news, insider Andy D. Waters sold 770 shares of the company’s stock in a transaction that occurred on Monday, February 6th. The shares were sold at an average price of $45.87, for a total transaction of $35,319.90. Following the completion of the transaction, the insider now owns 1,568 shares of the company’s stock, valued at $71,924.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.10% of the company’s stock.
A number of institutional investors have recently modified their holdings of the company. Nationwide Fund Advisors raised its position in shares of Community Trust Bancorp by 24.3% in the first quarter. Nationwide Fund Advisors now owns 30,730 shares of the financial services provider’s stock valued at $1,406,000 after buying an additional 5,998 shares during the period. Dalton Greiner Hartman Maher & Co. raised its position in shares of Community Trust Bancorp by 19.6% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 445,770 shares of the financial services provider’s stock valued at $20,394,000 after buying an additional 72,933 shares during the period. Private Trust Co. NA raised its position in shares of Community Trust Bancorp by 0.6% in the first quarter. Private Trust Co. NA now owns 7,691 shares of the financial services provider’s stock valued at $351,000 after buying an additional 49 shares during the period. Norges Bank bought a new position in shares of Community Trust Bancorp during the fourth quarter valued at approximately $7,796,000. Finally, Numeric Investors LLC bought a new position in shares of Community Trust Bancorp during the fourth quarter valued at approximately $203,000. 55.39% of the stock is owned by hedge funds and other institutional investors.
About Community Trust Bancorp
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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