Community Trust Bancorp Inc. (NASDAQ:CTBI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
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. “
Shares of Community Trust Bancorp (NASDAQ:CTBI) opened at 43.30 on Thursday. The company has a 50 day moving average of $38.46 and a 200-day moving average of $36.44. The firm has a market cap of $760.09 million, a price-to-earnings ratio of 16.04 and a beta of 0.54. Community Trust Bancorp has a 12-month low of $30.89 and a 12-month high of $43.70.
Community Trust Bancorp (NASDAQ:CTBI) last issued its earnings results on Wednesday, October 19th. The financial services provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. Community Trust Bancorp had a net margin of 24.46% and a return on equity of 9.69%. Analysts predict that Community Trust Bancorp will post $2.70 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, January 1st. Shareholders of record on Thursday, December 15th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend is Tuesday, December 13th. Community Trust Bancorp’s payout ratio is 47.41%.
In other Community Trust Bancorp news, CFO Kevin J. Stumbo sold 1,487 shares of the business’s stock in a transaction dated Friday, September 16th. The shares were sold at an average price of $36.45, for a total value of $54,201.15. Following the transaction, the chief financial officer now owns 917 shares in the company, valued at $33,424.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Larry W. Jones sold 5,561 shares of the business’s stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $36.88, for a total transaction of $205,089.68. Following the completion of the transaction, the insider now owns 12,582 shares in the company, valued at approximately $464,024.16. The disclosure for this sale can be found here. 5.10% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in CTBI. Teacher Retirement System of Texas boosted its position in Community Trust Bancorp by 8.3% in the second quarter. Teacher Retirement System of Texas now owns 3,539 shares of the financial services provider’s stock worth $123,000 after buying an additional 271 shares during the last quarter. BlackRock Inc. boosted its position in Community Trust Bancorp by 195.5% in the second quarter. BlackRock Inc. now owns 3,989 shares of the financial services provider’s stock worth $138,000 after buying an additional 2,639 shares during the last quarter. Advisor Group Inc. purchased a new position in Community Trust Bancorp during the second quarter worth about $202,000. UBS Asset Management Americas Inc. purchased a new position in Community Trust Bancorp during the third quarter worth about $216,000. Finally, BlackRock Advisors LLC boosted its position in Community Trust Bancorp by 1.5% in the second quarter. BlackRock Advisors LLC now owns 7,757 shares of the financial services provider’s stock worth $269,000 after buying an additional 115 shares during the last quarter. Hedge funds and other institutional investors own 53.53% of the company’s stock.
Community Trust Bancorp Company Profile
Community Trust Bancorp, Inc (CTBI) is a bank holding company. The Company operates in the community banking services segment. The Company owns a commercial bank and a trust company, serving small and mid-sized communities in eastern, northeastern, central and south central Kentucky; southern West Virginia, and northeastern Tennessee.