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

Community Trust Bancorp (NASDAQ:CTBI)‘s stock had its “overweight” rating reiterated by Piper Sandler in a research report issued on Friday, MarketBeat.com reports. They currently have a $64.00 price objective on the financial services provider’s stock. Piper Sandler’s price target indicates a potential upside of 12.54% from the company’s previous close.

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

Community Trust Bancorp Trading Down 6.6 %

Shares of CTBI opened at $56.87 on Friday. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 12.93 and a beta of 0.63. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.88 and a current ratio of 0.88. Community Trust Bancorp has a fifty-two week low of $38.43 and a fifty-two week high of $61.20. The firm has a 50 day moving average price of $50.20 and a 200-day moving average price of $46.59.

Community Trust Bancorp (NASDAQ:CTBI) last announced its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.08. Community Trust Bancorp had a net margin of 21.64% and a return on equity of 11.13%. The business had revenue of $95.38 million during the quarter, compared to analysts’ expectations of $62.00 million. As a group, equities research analysts forecast that Community Trust Bancorp will post 4.55 earnings per share for the current year.

Institutional Investors Weigh In On Community Trust Bancorp

A number of large investors have recently made changes to their positions in CTBI. Innealta Capital LLC bought a new stake in shares of Community Trust Bancorp in the 2nd quarter worth approximately $37,000. EntryPoint Capital LLC bought a new stake in shares of Community Trust Bancorp in the 1st quarter worth approximately $78,000. Coastline Trust Co purchased a new position in shares of Community Trust Bancorp in the 3rd quarter valued at approximately $79,000. CWM LLC lifted its stake in shares of Community Trust Bancorp by 1,932.0% in the 2nd quarter. CWM LLC now owns 2,601 shares of the financial services provider’s stock valued at $114,000 after purchasing an additional 2,473 shares during the period. Finally, EMC Capital Management purchased a new position in shares of Community Trust Bancorp in the 1st quarter valued at approximately $119,000. 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.