Community Trust Bancorp (NASDAQ:CTBI) Cut to “Hold” at BidaskClub

BidaskClub lowered shares of Community Trust Bancorp (NASDAQ:CTBI) from a buy rating to a hold rating in a research report released on Tuesday, BidAskClub reports.

A number of other research analysts have also weighed in on CTBI. ValuEngine raised Community Trust Bancorp from a sell rating to a hold rating in a research report on Wednesday, October 2nd. Zacks Investment Research raised Community Trust Bancorp from a sell rating to a hold rating in a research report on Tuesday, October 1st.

CTBI stock opened at $41.91 on Tuesday. Community Trust Bancorp has a twelve month low of $35.70 and a twelve month high of $46.69. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.13. The firm has a market cap of $738.11 million, a PE ratio of 11.31 and a beta of 0.68. The business has a 50 day moving average of $41.22 and a 200 day moving average of $41.31.

Community Trust Bancorp (NASDAQ:CTBI) last posted its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $1.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.18. Community Trust Bancorp had a return on equity of 11.38% and a net margin of 28.19%. The company had revenue of $48.28 million during the quarter, compared to analyst estimates of $48.98 million. On average, research analysts expect that Community Trust Bancorp will post 3.43 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Sunday, September 15th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.63%. This is an increase from Community Trust Bancorp’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Thursday, September 12th. Community Trust Bancorp’s dividend payout ratio (DPR) is currently 45.37%.

In other Community Trust Bancorp news, Director Franky Minnifield bought 1,000 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were acquired at an average cost of $39.33 per share, for a total transaction of $39,330.00. Following the purchase, the director now owns 4,940 shares in the company, valued at approximately $194,290.20. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 4.90% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of CTBI. Hillsdale Investment Management Inc. purchased a new stake in Community Trust Bancorp during the 2nd quarter valued at $42,000. HMS Capital Management LLC purchased a new stake in Community Trust Bancorp during the 2nd quarter valued at $48,000. Susquehanna International Group LLP purchased a new stake in Community Trust Bancorp during the 2nd quarter valued at $231,000. WINTON GROUP Ltd purchased a new stake in Community Trust Bancorp during the 2nd quarter valued at $293,000. Finally, Acadian Asset Management LLC boosted its stake in Community Trust Bancorp by 325.1% during the 1st quarter. Acadian Asset Management LLC now owns 9,454 shares of the financial services provider’s stock valued at $388,000 after purchasing an additional 7,230 shares during the last quarter. Institutional investors and hedge funds own 58.18% of the company’s stock.

About Community Trust Bancorp

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, Keogh plans, and savings certificates, as well as checking and savings, regular, individual retirement, NOW, and money market accounts.

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