Community Trust Bancorp (NASDAQ:CTBI – Get Free Report) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.
A number of other equities analysts also recently issued reports on the company. Weiss Ratings raised Community Trust Bancorp from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, May 18th. Piper Sandler assumed coverage on Community Trust Bancorp in a research note on Thursday, June 11th. They set a “neutral” rating and a $76.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.50.
Check Out Our Latest Stock Analysis on Community Trust Bancorp
Community Trust Bancorp Stock Performance
Community Trust Bancorp (NASDAQ:CTBI – Get Free Report) last issued its earnings results on Wednesday, April 15th. The financial services provider reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.11. The business had revenue of $74.20 million during the quarter, compared to the consensus estimate of $73.00 million. Community Trust Bancorp had a return on equity of 12.27% and a net margin of 24.85%. On average, equities analysts forecast that Community Trust Bancorp will post 6.13 EPS for the current year.
Hedge Funds Weigh In On Community Trust Bancorp
Several hedge funds have recently bought and sold shares of the company. Bank of America Corp DE increased its stake in Community Trust Bancorp by 26.8% in the 1st quarter. Bank of America Corp DE now owns 38,716 shares of the financial services provider’s stock valued at $2,351,000 after purchasing an additional 8,174 shares in the last quarter. Janus Henderson Group PLC increased its stake in Community Trust Bancorp by 114.0% in 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 purchasing an additional 102,488 shares in the last quarter. California State Teachers Retirement System increased its stake in Community Trust Bancorp by 22.0% in the 1st quarter. California State Teachers Retirement System now owns 17,314 shares of the financial services provider’s stock valued at $1,051,000 after purchasing an additional 3,121 shares in the last quarter. Empowered Funds LLC increased its stake in Community Trust Bancorp by 6.1% in the 1st quarter. Empowered Funds LLC now owns 80,948 shares of the financial services provider’s stock valued at $4,915,000 after purchasing an additional 4,638 shares in the last quarter. Finally, Quantinno Capital Management LP increased its stake in Community Trust Bancorp by 61.4% in the 1st quarter. Quantinno Capital Management LP now owns 20,026 shares of the financial services provider’s stock valued at $1,216,000 after purchasing an additional 7,622 shares in the last quarter. 60.20% of the stock is owned by hedge funds and other institutional investors.
About Community Trust Bancorp
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.
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