ValuEngine Downgrades Community Trust Bancorp (NASDAQ:CTBI) to Sell

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ValuEngine cut shares of Community Trust Bancorp (NASDAQ:CTBI) from a hold rating to a sell rating in a research note issued to investors on Monday, October 15th.

Several other equities analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Community Trust Bancorp from a buy rating to a hold rating in a research note on Thursday, July 12th. BidaskClub raised shares of Community Trust Bancorp from a sell rating to a hold rating in a research report on Thursday, August 16th.

Shares of CTBI stock traded down $0.77 during mid-day trading on Monday, reaching $45.66. 16,358 shares of the company’s stock traded hands, compared to its average volume of 32,249. The stock has a market cap of $821.75 million, a PE ratio of 16.31 and a beta of 0.49. Community Trust Bancorp has a 12 month low of $42.40 and a 12 month high of $53.00. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.11.

Community Trust Bancorp (NASDAQ:CTBI) last announced its quarterly earnings results on Wednesday, October 17th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.07. The company had revenue of $48.80 million for the quarter, compared to analysts’ expectations of $48.50 million. Community Trust Bancorp had a net margin of 26.68% and a return on equity of 11.02%. On average, sell-side analysts forecast that Community Trust Bancorp will post 3.49 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 1st. Shareholders of record on Saturday, December 15th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend is Thursday, December 13th. Community Trust Bancorp’s dividend payout ratio (DPR) is currently 51.43%.

In other news, insider Charles Wayne Hancock II sold 530 shares of the company’s stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $49.66, for a total value of $26,319.80. Following the transaction, the insider now owns 959 shares of the company’s stock, valued at approximately $47,623.94. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Charles J. Baird sold 4,000 shares of the company’s stock in a transaction on Friday, August 24th. The shares were sold at an average price of $49.71, for a total value of $198,840.00. Following the completion of the transaction, the director now directly owns 7,700 shares in the company, valued at approximately $382,767. The disclosure for this sale can be found here. Insiders have sold 6,859 shares of company stock worth $342,556 in the last three months. 4.80% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Macquarie Group Ltd. acquired a new position in Community Trust Bancorp during the 2nd quarter worth about $120,000. Creative Planning purchased a new stake in Community Trust Bancorp during the 2nd quarter worth about $271,000. Hartford Investment Management Co. purchased a new stake in Community Trust Bancorp during the 2nd quarter worth about $293,000. Legal & General Group Plc increased its holdings in Community Trust Bancorp by 48.8% during the 1st 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. Finally, Stone Ridge Asset Management LLC increased its holdings in Community Trust Bancorp by 16.6% during the 3rd quarter. Stone Ridge Asset Management LLC now owns 7,721 shares of the financial services provider’s stock worth $358,000 after purchasing an additional 1,100 shares during the period. 58.29% of the stock is currently owned by hedge funds and other institutional investors.

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.

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

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