Community Trust Bancorp (NASDAQ:CTBI) Upgraded at Raymond James

Raymond James upgraded shares of Community Trust Bancorp (NASDAQ:CTBI) from a market perform rating to an outperform rating in a research report released on Friday morning, MarketBeat reports. They currently have $60.00 price objective on the financial services provider’s stock.

Community Trust Bancorp Price Performance

Shares of NASDAQ CTBI opened at $51.21 on Friday. Community Trust Bancorp has a fifty-two week low of $36.00 and a fifty-two week high of $53.50. The firm’s 50-day simple moving average is $48.93 and its 200 day simple moving average is $45.53. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.09. The stock has a market cap of $923.11 million, a P/E ratio of 11.88 and a beta of 0.64.

Community Trust Bancorp (NASDAQ:CTBI) last issued 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. Community Trust Bancorp had a net margin of 21.85% and a return on equity of 11.14%. The business had revenue of $95.38 million for the quarter, compared to analysts’ expectations of $62.00 million. Equities analysts expect that Community Trust Bancorp will post 4.39 EPS for the current year.

Institutional Investors Weigh In On Community Trust Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the business. Innealta Capital LLC bought a new stake in Community Trust Bancorp in the second quarter worth about $37,000. EntryPoint Capital LLC bought a new stake in Community Trust Bancorp in the first quarter worth about $78,000. CWM LLC raised 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 bought a new stake in Community Trust Bancorp in the first quarter worth about $119,000. Finally, SG Americas Securities LLC raised 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 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.