ValuEngine upgraded shares of Community Trust Bancorp (NASDAQ:CTBI) from a hold rating to a buy rating in a research note issued to investors on Wednesday, March 7th.
Separately, BidaskClub downgraded shares of Community Trust Bancorp from a buy rating to a hold rating in a research note on Tuesday, December 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Community Trust Bancorp has a consensus rating of Hold and a consensus target price of $48.00.
Community Trust Bancorp (NASDAQ CTBI) traded up $0.30 during trading hours on Wednesday, hitting $47.20. 119,034 shares of the stock were exchanged, compared to its average volume of 55,026. Community Trust Bancorp has a 1 year low of $40.33 and a 1 year high of $51.90. The firm has a market capitalization of $830.64, a price-to-earnings ratio of 16.22 and a beta of 0.71. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.93 and a quick ratio of 0.93.
The business also recently declared a quarterly dividend, which will be paid on Sunday, April 1st. Shareholders of record on Thursday, March 15th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend is Wednesday, March 14th. Community Trust Bancorp’s dividend payout ratio is presently 45.36%.
In related news, Director Chad C. Street purchased 4,000 shares of the company’s stock in a transaction on Friday, December 22nd. The stock was acquired at an average cost of $48.79 per share, for a total transaction of $195,160.00. Following the completion of the transaction, the director now directly owns 5,000 shares in the company, valued at $243,950. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.80% of the stock is owned by company insiders.
Several hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN grew its holdings in shares of Community Trust Bancorp by 0.7% in the second quarter. Wells Fargo & Company MN now owns 14,414 shares of the financial services provider’s stock valued at $630,000 after purchasing an additional 100 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Community Trust Bancorp by 1.4% in the second quarter. The Manufacturers Life Insurance Company now owns 11,987 shares of the financial services provider’s stock worth $524,000 after acquiring an additional 163 shares during the last quarter. New York State Common Retirement Fund lifted its stake in Community Trust Bancorp by 7.6% in the second quarter. New York State Common Retirement Fund now owns 16,900 shares of the financial services provider’s stock worth $739,000 after acquiring an additional 1,199 shares during the last quarter. Swiss National Bank lifted its stake in Community Trust Bancorp by 6.3% in the fourth quarter. Swiss National Bank now owns 27,090 shares of the financial services provider’s stock worth $1,276,000 after acquiring an additional 1,600 shares during the last quarter. Finally, Prudential Financial Inc. lifted its stake in Community Trust Bancorp by 1.6% in the third quarter. Prudential Financial Inc. now owns 127,729 shares of the financial services provider’s stock worth $5,939,000 after acquiring an additional 2,070 shares during the last quarter. Hedge funds and other institutional investors own 58.81% of the company’s stock.
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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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