Community Trust Bancorp (NASDAQ:CTBI) Receives New Coverage from Analysts at Janney Montgomery Scott

Janney Montgomery Scott started coverage on shares of Community Trust Bancorp (NASDAQ:CTBI) in a research report sent to investors on Wednesday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $49.00 price target on the financial services provider’s stock.

Separately, Piper Sandler initiated coverage on shares of Community Trust Bancorp in a research note on Friday, February 16th. They set an overweight rating and a $47.00 price objective for the company.

Community Trust Bancorp Trading Up 6.0 %

Shares of Community Trust Bancorp stock opened at $42.36 on Wednesday. Community Trust Bancorp has a 12-month low of $32.68 and a 12-month high of $45.74. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.10. The stock has a market cap of $763.33 million, a PE ratio of 9.74 and a beta of 0.67. The company has a 50-day moving average of $40.47 and a two-hundred day moving average of $39.58.

Community Trust Bancorp (NASDAQ:CTBI) last issued its earnings results on Wednesday, January 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.04). Community Trust Bancorp had a net margin of 23.91% and a return on equity of 11.68%. The company had revenue of $57.00 million during the quarter, compared to analysts’ expectations of $58.00 million. On average, research analysts anticipate that Community Trust Bancorp will post 3.98 EPS for the current fiscal year.

Community Trust Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 15th will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $1.84 dividend on an annualized basis and a yield of 4.34%. This is a positive change from Community Trust Bancorp’s previous quarterly dividend of $0.40. Community Trust Bancorp’s dividend payout ratio (DPR) is 42.30%.

Insider Buying and Selling

In other news, CEO Mark A. Gooch bought 856 shares of the firm’s stock in a transaction that occurred on Wednesday, January 24th. The shares were purchased at an average price of $41.68 per share, for a total transaction of $35,678.08. Following the completion of the transaction, the chief executive officer now owns 27,191 shares in the company, valued at $1,133,320.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Community Trust Bancorp news, Director Franky Minnifield bought 2,000 shares of Community Trust Bancorp stock in a transaction that occurred on Friday, March 15th. The shares were acquired at an average price of $39.28 per share, for a total transaction of $78,560.00. Following the acquisition, the director now owns 14,401 shares of the company’s stock, valued at approximately $565,671.28. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO Mark A. Gooch purchased 856 shares of the company’s stock in a transaction that occurred on Wednesday, January 24th. The shares were purchased at an average cost of $41.68 per share, for a total transaction of $35,678.08. Following the purchase, the chief executive officer now directly owns 27,191 shares in the company, valued at $1,133,320.88. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 5,252 shares of company stock worth $213,203. 4.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CTBI. Point72 Asset Management L.P. acquired a new position in Community Trust Bancorp during the 2nd quarter valued at about $26,000. Parallel Advisors LLC boosted its stake in Community Trust Bancorp by 77.8% during the 4th quarter. Parallel Advisors LLC now owns 704 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 308 shares during the period. Money Concepts Capital Corp acquired a new position in Community Trust Bancorp during the 4th quarter valued at about $32,000. Royal Bank of Canada boosted its stake in Community Trust Bancorp by 84.9% during the 2nd quarter. Royal Bank of Canada now owns 1,622 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 745 shares during the period. Finally, Ensign Peak Advisors Inc acquired a new position in Community Trust Bancorp during the 3rd quarter valued at about $60,000. 60.20% of the stock is owned by institutional investors and hedge funds.

Community Trust Bancorp Company Profile

Community Trust Bancorp, Inc operates as the bank holding company for Community Trust Bank, Inc that engages in the provision of commercial and personal banking, and trust and wealth management services to small and mid-sized communities in eastern, northeastern, central, and south-central Kentucky, as well as southern West Virginia, and northeastern Tennessee.