StockNews.com Upgrades Community Trust Bancorp (NASDAQ:CTBI) to Buy

Community Trust Bancorp (NASDAQ:CTBIGet Rating) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

Separately, Piper Sandler reduced their price target on shares of Community Trust Bancorp to $47.00 in a research note on Monday, July 4th.

Community Trust Bancorp Price Performance

Shares of CTBI stock opened at $42.95 on Wednesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.79 and a quick ratio of 0.79. The firm’s 50-day moving average is $42.78 and its two-hundred day moving average is $41.61. Community Trust Bancorp has a 12 month low of $38.41 and a 12 month high of $46.30. The company has a market capitalization of $768.85 million, a PE ratio of 9.50 and a beta of 0.74.

Community Trust Bancorp (NASDAQ:CTBIGet Rating) last issued its earnings results on Wednesday, July 20th. The financial services provider reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.03. Community Trust Bancorp had a net margin of 33.81% and a return on equity of 12.02%. The company had revenue of $55.52 million for the quarter, compared to the consensus estimate of $55.40 million. Analysts predict that Community Trust Bancorp will post 4.56 earnings per share for the current year.

Institutional Investors Weigh In On Community Trust Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Community Trust & Investment Co. raised its stake in shares of Community Trust Bancorp by 8.4% in the 2nd quarter. Community Trust & Investment Co. now owns 1,885,651 shares of the financial services provider’s stock valued at $76,256,000 after acquiring an additional 145,953 shares during the period. BlackRock Inc. grew its holdings in shares of Community Trust Bancorp by 2.1% in the first quarter. BlackRock Inc. now owns 1,463,901 shares of the financial services provider’s stock valued at $60,313,000 after purchasing an additional 30,385 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Community Trust Bancorp by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,071,085 shares of the financial services provider’s stock valued at $44,129,000 after purchasing an additional 15,896 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Community Trust Bancorp by 2.9% in the first quarter. Northern Trust Corp now owns 520,883 shares of the financial services provider’s stock valued at $21,461,000 after purchasing an additional 14,494 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of Community Trust Bancorp by 6.0% in the first quarter. State Street Corp now owns 455,416 shares of the financial services provider’s stock valued at $18,944,000 after purchasing an additional 25,580 shares in the last quarter. 58.79% of the stock is owned by hedge funds and other institutional investors.

About Community Trust Bancorp

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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, checking accounts, savings accounts and savings certificates, individual retirement accounts and Keogh plans, and money market accounts.

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