Community Trust Bancorp (NASDAQ:CTBI) Stock Rating Lowered by Zacks Investment Research

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

A number of other analysts also recently issued reports on CTBI. BidaskClub downgraded shares of Community Trust Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. ValuEngine raised shares of Community Trust Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd.

Shares of CTBI stock opened at $42.65 on Friday. The firm has a market cap of $752.69 million, a P/E ratio of 12.73 and a beta of 0.68. Community Trust Bancorp has a 1-year low of $35.70 and a 1-year high of $46.69. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.95 and a quick ratio of 0.95. The firm’s 50-day simple moving average is $41.68 and its 200-day simple moving average is $41.38.

Community Trust Bancorp (NASDAQ:CTBI) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.02. The firm had revenue of $48.91 million during the quarter, compared to the consensus estimate of $48.96 million. Community Trust Bancorp had a net margin of 27.46% and a return on equity of 11.10%. Analysts expect that Community Trust Bancorp will post 3.43 earnings per share for the current fiscal year.

In other Community Trust Bancorp news, Director Franky Minnifield bought 1,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was purchased at an average price of $39.33 per share, with a total value of $39,330.00. Following the transaction, the director now owns 4,940 shares in the company, valued at $194,290.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.90% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of CTBI. Hillsdale Investment Management Inc. acquired a new stake in Community Trust Bancorp in the second quarter valued at approximately $42,000. HMS Capital Management LLC acquired a new stake in Community Trust Bancorp in the second quarter valued at approximately $48,000. Campbell & CO Investment Adviser LLC acquired a new stake in Community Trust Bancorp in the third quarter valued at approximately $207,000. Susquehanna International Group LLP acquired a new stake in Community Trust Bancorp in the second quarter valued at approximately $231,000. Finally, WINTON GROUP Ltd acquired a new stake in Community Trust Bancorp in the second quarter valued at approximately $293,000. 58.18% of the stock is owned by hedge funds and other institutional investors.

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.

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