Community Trust Bancorp (CTBI) Upgraded to Hold at Zacks Investment Research

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

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. “

Several other brokerages have also recently weighed in on CTBI. BidaskClub upgraded Community Trust Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday. ValuEngine upgraded Community Trust Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, January 5th.



Shares of CTBI stock opened at $43.43 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market cap of $765.87 million, a P/E ratio of 12.96 and a beta of 0.55. Community Trust Bancorp has a twelve month low of $35.70 and a twelve month high of $53.00.

Community Trust Bancorp (NASDAQ:CTBI) last announced its quarterly earnings results on Wednesday, January 16th. The financial services provider reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.01. The company had revenue of $48.52 million during the quarter, compared to analysts’ expectations of $48.80 million. Community Trust Bancorp had a return on equity of 11.42% and a net margin of 26.51%. As a group, equities analysts predict that Community Trust Bancorp will post 3.49 earnings per share for the current year.

In other Community Trust Bancorp news, Director Franky Minnifield acquired 600 shares of the company’s stock in a transaction on Monday, December 10th. The shares were bought at an average cost of $42.28 per share, with a total value of $25,368.00. Following the completion of the acquisition, the director now owns 3,605 shares in the company, valued at $152,419.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.80% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Sandy Spring Bank acquired a new stake in shares of Community Trust Bancorp in the fourth quarter worth approximately $44,000. Acadian Asset Management LLC acquired a new stake in shares of Community Trust Bancorp in the fourth quarter worth approximately $88,000. Ramsey Quantitative Systems boosted its stake in shares of Community Trust Bancorp by 51.0% in the fourth quarter. Ramsey Quantitative Systems now owns 2,832 shares of the financial services provider’s stock worth $112,000 after acquiring an additional 956 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in shares of Community Trust Bancorp by 361.9% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 4,892 shares of the financial services provider’s stock worth $194,000 after acquiring an additional 3,833 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Community Trust Bancorp by 5.1% in the fourth quarter. Legal & General Group Plc now owns 5,836 shares of the financial services provider’s stock worth $231,000 after acquiring an additional 283 shares during the last quarter. 58.38% of the stock is currently owned by 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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