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

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

CTBI has been the topic of a number of other research reports. Piper Sandler began coverage on Community Trust Bancorp in a research note on Thursday, June 11th. They issued a “neutral” rating and a $76.00 target price on the stock. Weiss Ratings upgraded Community Trust Bancorp from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $68.50.

Community Trust Bancorp Stock Performance

NASDAQ:CTBI opened at $68.08 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.92 and a current ratio of 0.92. The stock’s fifty day moving average is $66.28 and its 200 day moving average is $62.30. Community Trust Bancorp has a fifty-two week low of $49.64 and a fifty-two week 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 earnings results on Wednesday, April 15th. The financial services provider reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.11. Community Trust Bancorp had a return on equity of 12.27% and a net margin of 24.85%.The business had revenue of $74.20 million for the quarter, compared to analyst estimates of $73.00 million. On average, sell-side analysts anticipate that Community Trust Bancorp will post 6.13 earnings per share for the current year.

Hedge Funds Weigh In On Community Trust Bancorp

Several institutional investors have recently made changes to their positions in CTBI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Community Trust Bancorp by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,122 shares of the financial services provider’s stock valued at $459,000 after buying an additional 381 shares during the period. Millennium Management LLC increased its stake in shares of Community Trust Bancorp by 116.4% during the first quarter. Millennium Management LLC now owns 100,651 shares of the financial services provider’s stock valued at $5,069,000 after buying an additional 54,130 shares during the period. Jane Street Group LLC increased its stake in shares of Community Trust Bancorp by 158.5% during the first quarter. Jane Street Group LLC now owns 28,493 shares of the financial services provider’s stock valued at $1,435,000 after buying an additional 17,470 shares during the period. Strs Ohio purchased a new position in shares of Community Trust Bancorp during the first quarter valued at $86,000. Finally, Rhumbline Advisers increased its stake in shares of Community Trust Bancorp by 4.5% during the second quarter. Rhumbline Advisers now owns 24,696 shares of the financial services provider’s stock valued at $1,307,000 after buying an additional 1,074 shares during the period. Hedge funds and other 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.