Community Trust Bancorp (NASDAQ: CTBI) has been improved by Zacks investment research from a “keep” note to a “buy” note in a note issued to investors on Tuesday, Zacks.com reports. The company currently has a target price of $ 49 on the shares of the financial services provider. Zacks investment researchThe company’s price target would point to a potential rise of 13.40% from the company’s previous close.
According to Zacks, “Community Trust Financial Services Corporation was incorporated by statute for the purpose of becoming a banking holding company for Community Trust Bank. The company aims to facilitate the Bank’s ability to meet the financial services needs of its clients. The business of the Company is currently, and is expected to remain for the foreseeable future, owned and operated by the Bank. “
CTBI traded at $ 0.34 in Tuesday’s trading day, reaching $ 43.21. 33,444 shares were traded, for an average volume of 51,744. The company’s 50-day moving average price is $ 43.71 and its two-hundred-day moving average price is $ 42.05. The company has a debt to equity ratio of 0.09, a current ratio of 0.78, and a rapid ratio of 0.78. The company has a market cap of $ 771.00 million, a price / earnings ratio of 9.10 and a beta of 0.82. Community Trust Bancorp has a one-year minimum of $ 35.39 and a one-year maximum of $ 47.53.
Community Trust Bancorp (NASDAQ: CTBI) last released its quarterly results on Tuesday, October 19. The financial services provider reported earnings per share of $ 1.19 for the quarter, beating the Zacks’ consensus estimate of $ 1.16 by $ 0.03. Community Trust Bancorp had a return on equity of 12.56% and a net margin of 35.56%. The company posted revenue of $ 56.40 million in the quarter, compared to analysts’ expectations of $ 55.40 million. On average, analysts predict that Community Trust Bancorp will post 4.94 EPS for the current year.
In related news, EVP James B. Draughn sold 5,000 shares of the company in a trade on Monday, November 22. The stock was sold for an average price of $ 44.86, for a total value of $ 224,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 5,780 shares of the company valued at $ 259,268 during the last quarter. Insiders own 4.80% of the company’s shares.
A number of hedge funds have recently bought and sold shares of CTBI. Arkadios Wealth Advisors purchased a new stake in Community Trust Bancorp during the second quarter, valued at approximately $ 28,000. Royal Bank of Canada increased its position in Community Trust Bancorp by 131.3% in the first quarter. Royal Bank of Canada now owns 738 shares of the financial services provider valued at $ 32,000 after acquiring an additional 419 shares during the period. PSI Advisors LLC purchased a new stake in Community Trust Bancorp during the third quarter valued at approximately $ 45,000. Fieldpoint Private Securities LLC increased its position in Community Trust Bancorp shares by 19.1% in the second quarter. Fieldpoint Private Securities LLC now owns 1,819 shares of the financial services provider valued at $ 74,000 after purchasing an additional 292 shares during the period. Finally, Citigroup Inc. strengthened its position in Community Trust Bancorp shares by 79.1% in the second quarter. Citigroup Inc. now owns 2,737 shares of the financial services provider valued at $ 111,000 after purchasing an additional 1,209 shares during the period. 57.62% of the shares are held by hedge funds and other institutional investors.
Bancorp Community Trust Company Profile
Community Trust Bancorp, Inc is a bank holding company, which provides community banking services through its subsidiary Community Trust Bank, Inc. secured and unsecured loans to businesses, individuals and others, providing services managing cash flow to businesses and individuals, issuing letters of credit, renting safes and providing money transfer services.
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