Zacks Investment Research Upgrades Community Trust Bancorp (NASDAQ:CTBI) to “Hold”

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Zacks Investment Research upgraded shares of Community Trust Bancorp (NASDAQ:CTBI) from a sell rating to a hold rating in a research report report published on Monday morning, Zacks.com reports.

According to Zacks, “Community Trust Financial Services Corporation was incorporated under the laws for the purpose of becoming a bank holding company for Community Trust Bank. The Company is intended to facilitate the Bank’s ability to serve its customers’ requirements for financial services. The primary activity of the Company currently is, and is expected to remain for the foreseeable future, the ownership and operation of the Bank. “

Other analysts also recently issued reports about the company. ValuEngine upgraded Community Trust Bancorp from a sell rating to a hold rating in a research note on Wednesday, October 2nd. BidaskClub lowered Community Trust Bancorp from a buy rating to a hold rating in a report on Tuesday, October 8th.

Shares of NASDAQ CTBI opened at $44.95 on Monday. The firm’s 50 day moving average price is $43.96 and its 200-day moving average price is $41.81. Community Trust Bancorp has a 52-week low of $35.70 and a 52-week high of $46.69. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.94 and a current ratio of 0.94. The company has a market cap of $799.16 million, a PE ratio of 12.41 and a beta of 0.67.

Community Trust Bancorp (NASDAQ:CTBI) last announced its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $0.86 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.02. Community Trust Bancorp had a net margin of 27.46% and a return on equity of 10.97%. The company had revenue of $48.91 million during the quarter, compared to the consensus estimate of $48.96 million. On average, analysts forecast that Community Trust Bancorp will post 3.42 earnings per share for the current fiscal year.

In related news, EVP Charles Wayne Hancock II sold 10,000 shares of Community Trust Bancorp stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $44.28, for a total value of $442,800.00. 4.90% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC purchased a new stake in shares of Community Trust Bancorp during the third quarter worth about $29,000. Hillsdale Investment Management Inc. bought a new position in shares of Community Trust Bancorp during the 2nd quarter valued at about $42,000. Campbell & CO Investment Adviser LLC purchased a new position in shares of Community Trust Bancorp during the third quarter valued at about $207,000. Susquehanna International Group LLP purchased a new position in shares of Community Trust Bancorp during the second quarter valued at about $231,000. Finally, Municipal Employees Retirement System of Michigan bought a new stake in shares of Community Trust Bancorp in the third quarter worth about $354,000. Institutional investors and hedge funds own 58.70% of the company’s stock.

Community Trust Bancorp Company Profile

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, regular, individual retirement, NOW, and money market accounts.

Further Reading: Why do company’s buyback their stock?

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