Community Trust Bancorp’s (CTBI) Overweight Rating Reaffirmed at Piper Sandler

Piper Sandler restated their overweight rating on shares of Community Trust Bancorp (NASDAQ:CTBI) in a report issued on Friday morning, Marketbeat Ratings reports. They currently have a $64.00 price objective on the financial services provider’s stock.

Separately, Raymond James upgraded Community Trust Bancorp from a “market perform” rating to an “outperform” rating and set a $60.00 price target for the company in a research report on Friday, October 18th.

Community Trust Bancorp Price Performance

Community Trust Bancorp stock opened at $60.47 on Friday. 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 stock has a market cap of $1.09 billion, a P/E ratio of 13.74 and a beta of 0.63. The company has a 50-day moving average price of $50.54 and a 200 day moving average price of $46.87. Community Trust Bancorp has a 12-month low of $38.43 and a 12-month high of $61.20.

Community Trust Bancorp (NASDAQ:CTBI) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.08. The firm had revenue of $95.38 million for the quarter, compared to analysts’ expectations of $62.00 million. Community Trust Bancorp had a return on equity of 11.13% and a net margin of 21.64%. Sell-side analysts anticipate that Community Trust Bancorp will post 4.55 earnings per share for the current year.

Community Trust Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Sunday, December 15th will be paid a dividend of $0.47 per share. The ex-dividend date is Friday, December 13th. This represents a $1.88 annualized dividend and a yield of 3.11%. Community Trust Bancorp’s dividend payout ratio is currently 42.73%.

Institutional Trading of Community Trust Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets increased its position in Community Trust Bancorp by 86.9% during the 1st quarter. BNP Paribas Financial Markets now owns 7,691 shares of the financial services provider’s stock worth $328,000 after purchasing an additional 3,577 shares during the period. LSV Asset Management boosted its stake in shares of Community Trust Bancorp by 9.0% during the 1st quarter. LSV Asset Management now owns 290,157 shares of the financial services provider’s stock worth $12,375,000 after purchasing an additional 23,890 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Community Trust Bancorp by 8.0% during the 1st quarter. Empowered Funds LLC now owns 56,904 shares of the financial services provider’s stock worth $2,427,000 after purchasing an additional 4,200 shares during the period. SG Americas Securities LLC increased its stake in shares of Community Trust Bancorp by 26.9% during the 1st quarter. SG Americas Securities LLC now owns 3,161 shares of the financial services provider’s stock valued at $135,000 after acquiring an additional 671 shares during the last quarter. Finally, Heartland Advisors Inc. grew its stake in shares of Community Trust Bancorp by 216.9% during the 1st quarter. Heartland Advisors Inc. now owns 161,700 shares of the financial services provider’s stock valued at $6,897,000 after buying an additional 110,681 shares during the period. 60.20% of the stock is owned by hedge funds and other institutional investors.

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.