Zacks Investment Research Downgrades Community Trust Bancorp (CTBI) to Hold

Community Trust Bancorp (NASDAQ:CTBI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.

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. “

A number of other research analysts have also recently weighed in on CTBI. BidaskClub raised shares of Community Trust Bancorp from a “hold” rating to a “buy” rating in a research report on Tuesday. ValuEngine cut shares of Community Trust Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd.



CTBI opened at $45.85 on Wednesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.93 and a current ratio of 0.93. Community Trust Bancorp has a 1 year low of $40.33 and a 1 year high of $51.90. The company has a market capitalization of $811.15, a P/E ratio of 16.38 and a beta of 0.67.

Community Trust Bancorp (NASDAQ:CTBI) last announced its quarterly earnings results on Wednesday, January 17th. The financial services provider reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.02). The business had revenue of $47.52 million for the quarter, compared to analyst estimates of $48.00 million. Community Trust Bancorp had a net margin of 25.22% and a return on equity of 9.52%. equities research analysts anticipate that Community Trust Bancorp will post 3.3 EPS for the current year.

A number of hedge funds have recently made changes to their positions in CTBI. New York State Common Retirement Fund lifted its position in Community Trust Bancorp by 215.4% during the third quarter. New York State Common Retirement Fund now owns 53,300 shares of the financial services provider’s stock valued at $2,478,000 after buying an additional 36,400 shares in the last quarter. Russell Investments Group Ltd. lifted its position in Community Trust Bancorp by 7.3% during the third quarter. Russell Investments Group Ltd. now owns 35,442 shares of the financial services provider’s stock valued at $1,648,000 after buying an additional 2,414 shares in the last quarter. SG Americas Securities LLC acquired a new position in Community Trust Bancorp during the third quarter valued at approximately $104,000. Wells Fargo & Company MN lifted its position in Community Trust Bancorp by 42.8% during the third quarter. Wells Fargo & Company MN now owns 20,587 shares of the financial services provider’s stock valued at $957,000 after buying an additional 6,173 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its position in Community Trust Bancorp by 5.6% during the third quarter. Schwab Charles Investment Management Inc. now owns 86,889 shares of the financial services provider’s stock valued at $4,041,000 after buying an additional 4,580 shares in the last quarter. 58.75% of the stock is currently owned by hedge funds and other institutional investors.

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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, individual retirement, NOW, and money market accounts.

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