Zacks Investment Research upgraded shares of Community Trust Bancorp (NASDAQ:CTBI) from a hold rating to a buy rating in a report published on Tuesday, September 18th. Zacks Investment Research currently has $52.00 target price on the financial services provider’s stock.

According to Zacks, “Community Trust Financial Services Corporation was incorporated under the laws for the purpose of becoming a bank holding company for Community Trust Bank. The Company is intended to facilitate the Bank’s ability to serve its customers’ requirements for financial services. The primary activity of the Company currently is, and is expected to remain for the foreseeable future, the ownership and operation of the Bank. “

A number of other analysts also recently issued reports on the stock. BidaskClub downgraded shares of Community Trust Bancorp from a hold rating to a sell rating in a report on Thursday, August 30th. ValuEngine downgraded shares of Community Trust Bancorp from a buy rating to a hold rating in a report on Monday, June 11th.

NASDAQ:CTBI traded down $1.38 during trading hours on Tuesday, hitting $42.94. The stock had a trading volume of 37,122 shares, compared to its average volume of 40,047. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.94 and a quick ratio of 0.94. Community Trust Bancorp has a one year low of $42.42 and a one year high of $53.00. The company has a market cap of $821.75 million, a price-to-earnings ratio of 15.34 and a beta of 0.54.

Community Trust Bancorp (NASDAQ:CTBI) last announced its quarterly earnings results on Wednesday, July 18th. The financial services provider reported $0.82 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.83 by ($0.01). Community Trust Bancorp had a net margin of 26.11% and a return on equity of 10.65%. The firm had revenue of $48.89 million during the quarter, compared to the consensus estimate of $48.16 million. Equities research analysts expect that Community Trust Bancorp will post 3.4 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Saturday, September 15th were issued a dividend of $0.36 per share. This is an increase from Community Trust Bancorp’s previous quarterly dividend of $0.33. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend was Thursday, September 13th. Community Trust Bancorp’s payout ratio is currently 51.43%.

In related news, Director Charles J. Baird sold 4,000 shares of Community Trust Bancorp stock in a transaction on Friday, August 24th. The shares were sold at an average price of $49.71, for a total value of $198,840.00. Following the transaction, the director now owns 7,700 shares in the company, valued at approximately $382,767. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Charles Wayne Hancock II sold 530 shares of Community Trust Bancorp stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $49.66, for a total transaction of $26,319.80. Following the completion of the transaction, the insider now owns 959 shares in the company, valued at approximately $47,623.94. The disclosure for this sale can be found here. Insiders have sold a total of 6,859 shares of company stock valued at $342,556 over the last ninety days. 4.80% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the stock. Macquarie Group Ltd. purchased a new position in shares of Community Trust Bancorp in the second quarter valued at about $120,000. Millennium Management LLC purchased a new position in shares of Community Trust Bancorp in the fourth quarter valued at about $215,000. Legal & General Group Plc increased its position in shares of Community Trust Bancorp by 48.8% in the first quarter. Legal & General Group Plc now owns 5,958 shares of the financial services provider’s stock valued at $270,000 after acquiring an additional 1,953 shares during the period. Creative Planning purchased a new position in shares of Community Trust Bancorp in the second quarter valued at about $271,000. Finally, Hartford Investment Management Co. purchased a new position in shares of Community Trust Bancorp in the second quarter valued at about $293,000. Institutional investors own 57.91% of the company’s stock.

Community Trust Bancorp Company Profile

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

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