Community Trust Bancorp (NASDAQ:CTBI) Rating Increased to Hold at ValuEngine

Community Trust Bancorp (NASDAQ:CTBI) was upgraded by equities research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued on Wednesday, ValuEngine reports.

Several other equities analysts have also weighed in on CTBI. BidaskClub raised Community Trust Bancorp from a “hold” rating to a “buy” rating in a research note on Tuesday, September 24th. Zacks Investment Research raised Community Trust Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, October 1st.

Shares of NASDAQ CTBI traded up $0.25 during midday trading on Wednesday, hitting $42.06. The stock had a trading volume of 22,341 shares, compared to its average volume of 42,553. The company has a market capitalization of $743.27 million, a price-to-earnings ratio of 12.56 and a beta of 0.68. Community Trust Bancorp has a 1-year low of $35.70 and a 1-year high of $46.87. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.13. The company has a fifty day moving average price of $40.99 and a 200 day moving average price of $41.25.

Community Trust Bancorp (NASDAQ:CTBI) last released its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.18. The business had revenue of $48.28 million for the quarter, compared to analyst estimates of $48.98 million. Community Trust Bancorp had a return on equity of 11.38% and a net margin of 28.19%. On average, research analysts forecast that Community Trust Bancorp will post 3.43 EPS for the current year.

In other news, Director Franky Minnifield acquired 1,000 shares of Community Trust Bancorp stock in a transaction dated Thursday, August 15th. The shares were acquired at an average cost of $39.33 per share, with a total value of $39,330.00. Following the purchase, the director now directly owns 4,940 shares of the company’s stock, valued at approximately $194,290.20. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 4.90% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. Susquehanna International Group LLP purchased a new stake in shares of Community Trust Bancorp during the 2nd quarter valued at about $231,000. Nuveen Asset Management LLC purchased a new stake in shares of Community Trust Bancorp during the 2nd quarter valued at about $2,744,000. D. E. Shaw & Co. Inc. raised its holdings in shares of Community Trust Bancorp by 20.3% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 9,772 shares of the financial services provider’s stock valued at $413,000 after buying an additional 1,646 shares during the period. AQR Capital Management LLC raised its holdings in shares of Community Trust Bancorp by 7.9% during the 2nd quarter. AQR Capital Management LLC now owns 65,732 shares of the financial services provider’s stock valued at $2,780,000 after buying an additional 4,794 shares during the period. Finally, Bank of America Corp DE raised its holdings in shares of Community Trust Bancorp by 25.8% during the 2nd quarter. Bank of America Corp DE now owns 18,281 shares of the financial services provider’s stock valued at $772,000 after buying an additional 3,745 shares during the period. Institutional investors and hedge funds own 58.18% 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.

Featured Article: How do CD ladders protect against rising interest rates?

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

Receive News & Ratings for Community Trust Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Community Trust Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.