Community Trust Bancorp (NASDAQ:CTBI) Upgraded by Zacks Investment Research to “Hold”

Zacks Investment Research upgraded shares of Community Trust Bancorp (NASDAQ:CTBI) from a sell rating to a hold rating in a report released on Thursday morning, Zacks.com reports.

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. “

Separately, BidaskClub lowered Zynga from a buy rating to a hold rating in a research report on Tuesday, June 18th.

Shares of NASDAQ CTBI opened at $40.73 on Thursday. Community Trust Bancorp has a one year low of $35.70 and a one year high of $51.20. The firm has a market cap of $723.89 million, a price-to-earnings ratio of 12.16 and a beta of 0.64. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.95 and a quick ratio of 0.94. The business’s 50-day simple moving average is $41.02.

Community Trust Bancorp (NASDAQ:CTBI) last announced its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $1.03 EPS for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.18. Community Trust Bancorp had a return on equity of 11.54% and a net margin of 28.19%. The firm had revenue of $48.28 million during the quarter, compared to analyst estimates of $48.98 million. On average, equities research analysts forecast that Community Trust Bancorp will post 3.51 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Saturday, June 15th were given a dividend of $0.36 per share. The ex-dividend date was Thursday, June 13th. This represents a $1.44 dividend on an annualized basis and a yield of 3.54%. Community Trust Bancorp’s payout ratio is presently 42.99%.

Several hedge funds have recently modified their holdings of CTBI. HMS Capital Management LLC bought a new position in shares of Community Trust Bancorp in the 2nd quarter valued at approximately $48,000. BNP Paribas Arbitrage SA raised its stake in shares of Community Trust Bancorp by 241.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,236 shares of the financial services provider’s stock valued at $133,000 after acquiring an additional 2,288 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Community Trust Bancorp in the 1st quarter valued at approximately $169,000. Metropolitan Life Insurance Co. NY raised its stake in shares of Community Trust Bancorp by 361.9% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 4,892 shares of the financial services provider’s stock valued at $194,000 after acquiring an additional 3,833 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Community Trust Bancorp by 5.1% in the 4th quarter. Legal & General Group Plc now owns 5,836 shares of the financial services provider’s stock valued at $231,000 after acquiring an additional 283 shares in the last quarter. 57.02% of the stock is currently owned by institutional investors and hedge funds.

About Community Trust Bancorp

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, regular, individual retirement, NOW, and money market accounts.

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