StockNews.com Upgrades Community Trust Bancorp (NASDAQ:CTBI) to Buy

Community Trust Bancorp (NASDAQ:CTBIGet Rating) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.

Separately, Piper Sandler dropped their price objective on shares of Community Trust Bancorp to $47.00 in a research note on Monday, July 4th.

Community Trust Bancorp Trading Down 0.0 %

Shares of CTBI stock opened at $42.95 on Wednesday. The firm has a market cap of $768.85 million, a P/E ratio of 9.50 and a beta of 0.74. Community Trust Bancorp has a 1-year low of $38.41 and a 1-year high of $46.30. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.79 and a quick ratio of 0.79. The firm’s 50-day simple moving average is $42.78 and its 200-day simple moving average is $41.61.

Community Trust Bancorp (NASDAQ:CTBIGet Rating) last posted its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $1.14 EPS for the quarter, beating the consensus estimate of $1.11 by $0.03. Community Trust Bancorp had a net margin of 33.81% and a return on equity of 12.02%. The firm had revenue of $55.52 million for the quarter, compared to analyst estimates of $55.40 million. As a group, equities analysts forecast that Community Trust Bancorp will post 4.56 EPS for the current year.

Institutional Trading of Community Trust Bancorp

A number of hedge funds have recently made changes to their positions in the company. BNP Paribas Arbitrage SA grew its position in shares of Community Trust Bancorp by 138.8% during the fourth quarter. BNP Paribas Arbitrage SA now owns 10,139 shares of the financial services provider’s stock worth $442,000 after buying an additional 5,894 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Community Trust Bancorp by 2.9% during the fourth quarter. JPMorgan Chase & Co. now owns 350,611 shares of the financial services provider’s stock worth $15,290,000 after buying an additional 9,855 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Community Trust Bancorp by 5.4% during the fourth quarter. Renaissance Technologies LLC now owns 164,882 shares of the financial services provider’s stock worth $7,191,000 after buying an additional 8,500 shares in the last quarter. Barclays PLC grew its position in shares of Community Trust Bancorp by 67.7% during the fourth quarter. Barclays PLC now owns 55,172 shares of the financial services provider’s stock worth $2,406,000 after buying an additional 22,277 shares in the last quarter. Finally, Calton & Associates Inc. grew its position in shares of Community Trust Bancorp by 10.1% during the first quarter. Calton & Associates Inc. now owns 5,438 shares of the financial services provider’s stock worth $224,000 after buying an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 58.79% of the company’s stock.

About Community Trust Bancorp

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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, checking accounts, savings accounts and savings certificates, individual retirement accounts and Keogh plans, and money market accounts.

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