Community Trust Bancorp (NASDAQ:CTBI) Upgraded by Raymond James Financial to “Moderate Buy” Rating

Community Trust Bancorp (NASDAQ:CTBI) was upgraded by equities research analysts at Raymond James Financial from an “outperform” rating to a “moderate buy” rating in a report issued on Tuesday, MarketBeat.com reports.

CTBI has been the subject of a number of other research reports. Zacks Research downgraded shares of Community Trust Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 16th. Piper Sandler increased their target price on shares of Community Trust Bancorp from $76.00 to $81.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. Finally, Weiss Ratings upgraded shares of Community Trust Bancorp from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $81.50.

Community Trust Bancorp Stock Up 1.8%

Shares of NASDAQ:CTBI opened at $77.06 on Tuesday. The company has a market capitalization of $1.40 billion, a PE ratio of 12.91 and a beta of 0.52. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.94 and a quick ratio of 0.94. The business has a fifty day moving average price of $75.71 and a two-hundred day moving average price of $68.29. Community Trust Bancorp has a 1 year low of $50.25 and a 1 year high of $79.92.

Community Trust Bancorp (NASDAQ:CTBI) last released its earnings results on Wednesday, July 15th. The financial services provider reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.12. The company had revenue of $78.49 million for the quarter, compared to analysts’ expectations of $76.85 million. Community Trust Bancorp had a return on equity of 12.52% and a net margin of 25.55%. Analysts forecast that Community Trust Bancorp will post 6.41 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Franky Minnifield sold 3,900 shares of Community Trust Bancorp stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $78.85, for a total value of $307,515.00. Following the completion of the transaction, the director owned 8,320 shares in the company, valued at $656,032. This trade represents a 31.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Heartland Advisors Inc. bought a new position in shares of Community Trust Bancorp in the second quarter worth $11,882,000. Fifth Third Bancorp purchased a new stake in Community Trust Bancorp during the 1st quarter worth about $844,000. Lazard Asset Management LLC bought a new position in Community Trust Bancorp in the 1st quarter worth about $1,555,000. Y Intercept Hong Kong Ltd purchased a new position in Community Trust Bancorp during the 1st quarter valued at about $994,000. Finally, Janus Henderson Group PLC grew its holdings in Community Trust Bancorp by 114.0% during the 1st quarter. Janus Henderson Group PLC now owns 192,413 shares of the financial services provider’s stock valued at $11,684,000 after buying an additional 102,488 shares in the last quarter. 60.20% of the stock is currently owned by hedge funds and other institutional investors.

Community Trust Bancorp Company Profile

Community Trust Bancorp, Inc is a bank holding company headquartered in Pikeville, Kentucky. As the parent of Community Trust Bank, the company provides a comprehensive range of banking services to individuals, families and businesses throughout eastern Kentucky, southern West Virginia and northeast Tennessee. With origins dating back to the early 20th century, the organization has built a reputation for supporting community development and regional economic growth across the Appalachian region.

The company’s personal banking offerings include checking and savings accounts, consumer installment loans, home equity and mortgage lending, as well as online and mobile banking platforms.