Community Trust Bancorp (CTBI) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Community Trust Bancorp (NASDAQ:CTBI) from a hold rating to a buy rating in a research note published on Thursday morning. Zacks Investment Research currently has $51.00 target price on the financial services provider’s stock.

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. “

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CTBI has been the subject of several other reports. BidaskClub upgraded shares of Community Trust Bancorp from a strong sell rating to a sell rating in a research report on Friday, March 9th. ValuEngine upgraded shares of Community Trust Bancorp from a hold rating to a buy rating in a research report on Wednesday, March 7th.

Shares of CTBI stock opened at $45.20 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market cap of $800.54, a price-to-earnings ratio of 16.20 and a beta of 0.71. Community Trust Bancorp has a 12-month low of $40.33 and a 12-month high of $51.90.

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

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, April 1st. Shareholders of record on Thursday, March 15th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $1.32 annualized dividend and a yield of 2.92%. Community Trust Bancorp’s dividend payout ratio (DPR) is presently 47.14%.

A number of hedge funds have recently modified their holdings of the business. MetLife Investment Advisors LLC acquired a new stake in Community Trust Bancorp during the fourth quarter worth approximately $384,000. Millennium Management LLC acquired a new stake in shares of Community Trust Bancorp in the fourth quarter valued at approximately $215,000. Raymond James & Associates raised its position in shares of Community Trust Bancorp by 7.4% in the fourth quarter. Raymond James & Associates now owns 54,946 shares of the financial services provider’s stock valued at $2,588,000 after buying an additional 3,781 shares in the last quarter. Stone Ridge Asset Management LLC acquired a new stake in shares of Community Trust Bancorp in the fourth quarter valued at approximately $457,000. Finally, Deutsche Bank AG raised its position in shares of Community Trust Bancorp by 81.9% in the fourth quarter. Deutsche Bank AG now owns 43,435 shares of the financial services provider’s stock valued at $2,043,000 after buying an additional 19,560 shares in the last quarter. Hedge funds and other institutional investors own 58.75% of the company’s stock.

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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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