Community Trust Bancorp’s (CTBI) “Outperform” Rating Reaffirmed at Raymond James Financial

Community Trust Bancorp (NASDAQ:CTBI)‘s stock had its “outperform” rating reaffirmed by stock analysts at Raymond James Financial in a report issued on Thursday,Benzinga reports. They presently have a $63.00 price objective on the financial services provider’s stock, up from their previous price objective of $58.00. Raymond James Financial’s price target suggests a potential upside of 10.64% from the company’s current price.

Separately, Piper Sandler lowered their price objective on Community Trust Bancorp from $60.00 to $56.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th.

Community Trust Bancorp Price Performance

CTBI stock opened at $56.94 on Thursday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.92 and a current ratio of 0.92. Community Trust Bancorp has a 1 year low of $44.60 and a 1 year high of $61.67. The firm has a market cap of $1.03 billion, a P/E ratio of 11.21 and a beta of 0.58. The stock has a 50-day simple moving average of $52.74 and a 200-day simple moving average of $51.98.

Community Trust Bancorp (NASDAQ:CTBI) last posted its earnings results on Wednesday, July 16th. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.11. Community Trust Bancorp had a return on equity of 11.92% and a net margin of 23.33%. The business had revenue of $70.21 million during the quarter, compared to analyst estimates of $68.00 million. On average, equities analysts predict that Community Trust Bancorp will post 5.06 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Community Trust Bancorp news, Director Franky Minnifield acquired 2,000 shares of the stock in a transaction on Monday, June 2nd. The stock was purchased at an average price of $51.01 per share, for a total transaction of $102,020.00. Following the purchase, the director directly owned 17,099 shares in the company, valued at $872,219.99. This trade represents a 13.25% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Community Trust Bancorp

A number of hedge funds have recently bought and sold shares of CTBI. US Bancorp DE grew its stake in Community Trust Bancorp by 311.8% during the 4th quarter. US Bancorp DE now owns 560 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 424 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Community Trust Bancorp by 39.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 801 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 228 shares in the last quarter. Farther Finance Advisors LLC acquired a new position in shares of Community Trust Bancorp in the 2nd quarter worth approximately $40,000. Federated Hermes Inc. acquired a new position in shares of Community Trust Bancorp in the 4th quarter worth approximately $46,000. Finally, Strs Ohio acquired a new position in shares of Community Trust Bancorp in the 1st quarter worth approximately $86,000. Institutional investors and hedge funds own 60.20% 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 engages in the provision of commercial and personal banking, and trust and wealth management services to small and mid-sized communities in eastern, northeastern, central, and south-central Kentucky, as well as southern West Virginia, and northeastern Tennessee.