Community Trust Bancorp (NASDAQ:CTBI) Lifted to Outperform at Raymond James

Community Trust Bancorp (NASDAQ:CTBI) was upgraded by stock analysts at Raymond James from a “market perform” rating to an “outperform” rating in a research note issued on Friday, Marketbeat.com reports. The brokerage currently has a $60.00 target price on the financial services provider’s stock. Raymond James’ price target would indicate a potential upside of 16.55% from the stock’s previous close.

Community Trust Bancorp Stock Down 1.7 %

Community Trust Bancorp stock opened at $51.48 on Friday. Community Trust Bancorp has a 1-year low of $35.35 and a 1-year high of $52.76. The firm has a market capitalization of $927.98 million, a price-to-earnings ratio of 11.94 and a beta of 0.64. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09. The firm has a 50 day simple moving average of $48.68 and a 200 day simple moving average of $45.32.

Community Trust Bancorp (NASDAQ:CTBI) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.08. The business had revenue of $95.38 million during the quarter, compared to analyst estimates of $62.00 million. Community Trust Bancorp had a net margin of 21.85% and a return on equity of 11.14%. On average, analysts predict that Community Trust Bancorp will post 4.39 earnings per share for the current year.

Insider Activity

In other news, EVP David Andrew Jones purchased 10,000 shares of Community Trust Bancorp stock in a transaction dated Monday, July 22nd. The stock was purchased at an average cost of $32.27 per share, for a total transaction of $322,700.00. Following the transaction, the executive vice president now directly owns 10,000 shares of the company’s stock, valued at approximately $322,700. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Innealta Capital LLC purchased a new position in Community Trust Bancorp in the second quarter worth $37,000. EntryPoint Capital LLC purchased a new position in Community Trust Bancorp in the first quarter worth $78,000. CWM LLC grew its position in Community Trust Bancorp by 1,932.0% in the second quarter. CWM LLC now owns 2,601 shares of the financial services provider’s stock worth $114,000 after acquiring an additional 2,473 shares in the last quarter. EMC Capital Management purchased a new position in Community Trust Bancorp in the first quarter worth $119,000. Finally, SG Americas Securities LLC grew its position in Community Trust Bancorp by 26.9% in the first quarter. SG Americas Securities LLC now owns 3,161 shares of the financial services provider’s stock worth $135,000 after acquiring an additional 671 shares in the last quarter. 60.20% of the stock is currently owned by hedge funds and other institutional investors.

Community Trust Bancorp Company Profile

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.