Community Trust Bancorp (NASDAQ:CTBI) Cut to “Hold” at BidaskClub

BidaskClub cut shares of Community Trust Bancorp (NASDAQ:CTBI) from a buy rating to a hold rating in a report issued on Tuesday morning, BidAskClub reports.

Other equities research analysts have also recently issued reports about the company. ValuEngine raised Community Trust Bancorp from a sell rating to a hold rating in a report on Wednesday, October 2nd. Zacks Investment Research raised Community Trust Bancorp from a sell rating to a hold rating in a report on Tuesday, October 1st.

NASDAQ:CTBI opened at $41.91 on Tuesday. 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 business’s 50-day simple moving average is $41.22 and its two-hundred day simple moving average is $41.31. The stock has a market cap of $738.11 million, a PE ratio of 11.31 and a beta of 0.68. Community Trust Bancorp has a 52 week low of $35.70 and a 52 week high of $46.69.

Community Trust Bancorp (NASDAQ:CTBI) last posted its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $1.03 EPS for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.18. The business had revenue of $48.28 million for the quarter, compared to analysts’ expectations of $48.98 million. Community Trust Bancorp had a return on equity of 11.38% and a net margin of 28.19%. Sell-side analysts anticipate that Community Trust Bancorp will post 3.43 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Sunday, September 15th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.63%. This is a boost from Community Trust Bancorp’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Thursday, September 12th. Community Trust Bancorp’s payout ratio is 45.37%.

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

Several hedge funds have recently modified their holdings of the company. Swiss National Bank increased its holdings in shares of Community Trust Bancorp by 2.1% in the second quarter. Swiss National Bank now owns 29,690 shares of the financial services provider’s stock worth $1,256,000 after purchasing an additional 600 shares during the last quarter. Hillsdale Investment Management Inc. bought a new stake in shares of Community Trust Bancorp in the second quarter worth about $42,000. Bessemer Group Inc. increased its holdings in shares of Community Trust Bancorp by 2.6% in the second quarter. Bessemer Group Inc. now owns 43,600 shares of the financial services provider’s stock worth $1,844,000 after purchasing an additional 1,100 shares during the last quarter. HMS Capital Management LLC bought a new stake in shares of Community Trust Bancorp in the second quarter worth about $48,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Community Trust Bancorp by 1.8% in the second quarter. Charles Schwab Investment Management Inc. now owns 94,524 shares of the financial services provider’s stock worth $3,998,000 after purchasing an additional 1,639 shares during the last quarter. 58.18% of the stock is currently 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.

Further Reading: What is the strike price in options trading?

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.