Community Trust Bancorp (NASDAQ:CTBI – Free Report) had its price target reduced by Piper Sandler from $81.00 to $75.00 in a research report released on Thursday,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.
A number of other research firms have also recently issued reports on CTBI. Raymond James Financial assumed coverage on shares of Community Trust Bancorp in a research report on Tuesday, September 1st. They set an “outperform” rating and a $82.00 price objective on the stock. Weiss Ratings raised Community Trust Bancorp from a “buy (a-)” rating to a “buy (a)” rating in a research report on Thursday, October 8th. 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $78.50.
Check Out Our Latest Stock Report on CTBI
Community Trust Bancorp Stock Down 0.8%
Shares of NASDAQ CTBI opened at $70.50 on Thursday. The firm has a market cap of $1.28 billion, a PE ratio of 11.60 and a beta of 0.54. Community Trust Bancorp has a 12-month low of $50.25 and a 12-month high of $79.92. The company’s fifty day simple moving average is $75.61 and its 200 day simple moving average is $71.97. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.08.
Community Trust Bancorp (NASDAQ:CTBI – Get Free Report) last posted its quarterly earnings results on Wednesday, October 21st. The financial services provider reported $1.43 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.22). The company had revenue of $79.70 million during the quarter, compared to analyst estimates of $80.20 million. Community Trust Bancorp had a return on equity of 12.60% and a net margin of 25.48%. As a group, sell-side analysts forecast that Community Trust Bancorp will post 6.19 earnings per share for the current fiscal year.
Insider Activity
In related news, Director Franky Minnifield sold 3,900 shares of Community Trust Bancorp stock in a transaction on 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 sale, the director owned 8,320 shares of the company’s stock, valued at approximately $656,032. This trade represents a 31.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.60% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in shares of Community Trust Bancorp during the second quarter worth about $129,034,000. Community Trust & Investment Co. lifted its position in Community Trust Bancorp by 0.9% in the 3rd quarter. Community Trust & Investment Co. now owns 1,013,094 shares of the financial services provider’s stock valued at $75,192,000 after acquiring an additional 8,687 shares in the last quarter. Lone Peak Global Investors LLC lifted its position in Community Trust Bancorp by 6.1% in the 2nd quarter. Lone Peak Global Investors LLC now owns 300,504 shares of the financial services provider’s stock valued at $21,744,000 after acquiring an additional 17,388 shares in the last quarter. Jupiter Topco LLC acquired a new position in Community Trust Bancorp during the 2nd quarter valued at about $14,956,000. Finally, Heartland Advisors Inc. acquired a new position in Community Trust Bancorp during the 2nd quarter valued at about $11,882,000. 60.20% of the stock is owned by institutional investors.
About Community Trust Bancorp
Community Trust Bancorp, Inc is a bank holding company headquartered in Pikeville, Kentucky. Through its principal subsidiary, Community Trust Bank, the company provides banking and financial services to individuals, businesses and organizations.
Its products and services include checking and savings accounts, certificates of deposit, consumer and mortgage loans, commercial lending, agricultural financing and other credit products. Community Trust also offers trust and wealth-management services, investment products, insurance and digital banking tools.
Community Trust Bank traces its history to 1903 and has developed a regional banking network serving communities primarily throughout eastern and central Kentucky, as well as portions of southern West Virginia.
Recommended Stories
- Five stocks we like better than Community Trust Bancorp
- Bloom Energy Just Reported—Its Biggest Order Is Still Waiting on a Pipeline
- Why Western Digital’s AI Storage Boom Defies the Chip Sell-Off
- Grand Canyon Education Strengthens Its Outlook, But Wall Street Remains Divided
- Amex Stock Slides on Job Cuts, But the Real Story Is Macro
Receive News & Ratings for Community Trust Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Community Trust Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.
