Community Trust Bancorp (NASDAQ:CTBI) Earns "Buy (B)" Rating from Weiss Ratings

Key Points

• Community Trust Bancorp's stock has been reissued a "buy (B)" rating by Weiss Ratings, signaling continued positive analyst confidence.
• The company reported $1.38 EPS for the last quarter, exceeding analysts' expectations of $1.27 and demonstrating strong financial performance.
• Recent trading activity shows the stock price has reached $55.54, with an average target price set at $64.50 among analysts.

Community Trust Bancorp (NASDAQ:CTBI - Get Free Report)'s stock had its "buy (b)" rating reissued by stock analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

CTBI has been the topic of several other reports. Piper Sandler began coverage on Community Trust Bancorp in a research note on Monday, August 18th. They set an "overweight" rating and a $66.00 target price on the stock. Raymond James Financial restated an "outperform" rating and set a $63.00 price target (up from $58.00) on shares of Community Trust Bancorp in a research report on Thursday, July 17th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Community Trust Bancorp has an average rating of "Buy" and an average target price of $64.50.

Community Trust Bancorp Trading Up 0.7%

Shares of CTBI traded up $0.37 during mid-day trading on Wednesday, hitting $55.54. 45,562 shares of the company's stock traded hands, compared to its average volume of 65,442. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.08. Community Trust Bancorp has a 1 year low of $44.60 and a 1 year high of $61.67. The firm has a market capitalization of $1.01 billion, a P/E ratio of 10.93 and a beta of 0.57. The business's 50-day moving average price is $56.28 and its 200-day moving average price is $53.16.

Community Trust Bancorp (NASDAQ:CTBI - Get Free Report) last posted its earnings results on Wednesday, July 16th. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.11. Community Trust Bancorp had a return on equity of 11.77% and a net margin of 23.33%.The firm had revenue of $70.21 million for the quarter, compared to analysts' expectations of $68.00 million. As a group, sell-side analysts forecast that Community Trust Bancorp will post 5.06 EPS for the current fiscal year.

Insider Buying and Selling

In other Community Trust Bancorp news, EVP Andy D. Waters sold 918 shares of the business's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $56.18, for a total value of $51,573.24. Following the sale, the executive vice president directly owned 632 shares of the company's stock, valued at approximately $35,505.76. The trade was a 59.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 4.30% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CTBI. ProShare Advisors LLC purchased a new position in shares of Community Trust Bancorp in the second quarter worth $6,378,000. Nuveen LLC purchased a new position in shares of Community Trust Bancorp in the first quarter worth $5,210,000. Community Trust & Investment Co. raised its stake in shares of Community Trust Bancorp by 3.0% in the second quarter. Community Trust & Investment Co. now owns 1,979,076 shares of the financial services provider's stock worth $104,733,000 after purchasing an additional 58,142 shares during the last quarter. Millennium Management LLC raised its stake in shares of Community Trust Bancorp by 116.4% in the first quarter. Millennium Management LLC now owns 100,651 shares of the financial services provider's stock worth $5,069,000 after purchasing an additional 54,130 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its stake in shares of Community Trust Bancorp by 237.5% in the first quarter. Adage Capital Partners GP L.L.C. now owns 67,499 shares of the financial services provider's stock worth $3,399,000 after purchasing an additional 47,499 shares during the last quarter. Hedge funds and other institutional investors own 60.20% 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 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.

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