Community Trust Bancorp (NASDAQ:CTBI) Rating Increased to Outperform at Raymond James

Community Trust Bancorp (NASDAQ:CTBI) was upgraded by analysts at Raymond James from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Friday, Marketbeat Ratings reports. The brokerage presently has a $60.00 price target on the financial services provider’s stock. Raymond James’ target price would suggest a potential upside of 14.33% from the stock’s current price.

Community Trust Bancorp Stock Performance

Shares of CTBI stock opened at $52.48 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market cap of $946.00 million, a PE ratio of 12.18 and a beta of 0.64. The stock has a 50-day moving average of $48.81 and a 200-day moving average of $45.42. Community Trust Bancorp has a one year low of $35.52 and a one year high of $53.04.

Community Trust Bancorp (NASDAQ:CTBI) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.08. The business had revenue of $95.38 million during the quarter, compared to analysts’ expectations of $62.00 million. Community Trust Bancorp had a return on equity of 11.14% and a net margin of 21.85%. As a group, sell-side analysts expect that Community Trust Bancorp will post 4.39 earnings per share for the current year.

Insider Transactions at Community Trust Bancorp

In related news, EVP David Andrew Jones acquired 10,000 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was bought at an average price of $32.27 per share, with a total value of $322,700.00. Following the acquisition, the executive vice president now owns 10,000 shares in the company, valued at $322,700. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Community Trust Bancorp

Hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its position in shares of Community Trust Bancorp by 1.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,171,419 shares of the financial services provider’s stock worth $51,142,000 after purchasing an additional 12,707 shares during the period. Vanguard Group Inc. increased its position in shares of Community Trust Bancorp by 1.2% in the first quarter. Vanguard Group Inc. now owns 894,527 shares of the financial services provider’s stock worth $38,152,000 after purchasing an additional 11,043 shares during the period. Clifford Capital Partners LLC increased its position in shares of Community Trust Bancorp by 7.8% in the second quarter. Clifford Capital Partners LLC now owns 324,515 shares of the financial services provider’s stock worth $14,168,000 after purchasing an additional 23,564 shares during the period. LSV Asset Management increased its position in shares of Community Trust Bancorp by 9.0% in the first quarter. LSV Asset Management now owns 290,157 shares of the financial services provider’s stock worth $12,375,000 after purchasing an additional 23,890 shares during the period. Finally, American Century Companies Inc. increased its position in shares of Community Trust Bancorp by 20.5% in the second quarter. American Century Companies Inc. now owns 274,759 shares of the financial services provider’s stock worth $11,996,000 after purchasing an additional 46,745 shares during the period. Institutional investors and hedge funds own 60.20% of the company’s stock.

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.