ValuEngine upgraded shares of Community Trust Bancorp (NASDAQ:CTBI) from a hold rating to a buy rating in a research note published on Wednesday morning.
Separately, BidaskClub upgraded Community Trust Bancorp from a sell rating to a hold rating in a report on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $50.00.
Shares of Community Trust Bancorp (NASDAQ:CTBI) opened at $47.60 on Wednesday. Community Trust Bancorp has a twelve month low of $40.33 and a twelve month high of $51.90. The company has a current ratio of 0.93, a quick ratio of 0.94 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $843.04, a price-to-earnings ratio of 17.06 and a beta of 0.71.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, April 1st. Stockholders of record on Thursday, March 15th will be issued a dividend of $0.33 per share. The ex-dividend date is Wednesday, March 14th. This represents a $1.32 annualized dividend and a dividend yield of 2.77%. Community Trust Bancorp’s dividend payout ratio is presently 45.36%.
In other Community Trust Bancorp news, Director Chad C. Street acquired 4,000 shares of the firm’s stock in a transaction dated Friday, December 22nd. The stock was purchased at an average price of $48.79 per share, for a total transaction of $195,160.00. Following the acquisition, the director now owns 5,000 shares in the company, valued at approximately $243,950. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.80% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in shares of Community Trust Bancorp by 1.3% in the 4th quarter. BlackRock Inc. now owns 1,134,307 shares of the financial services provider’s stock valued at $53,425,000 after acquiring an additional 14,903 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Community Trust Bancorp by 2.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 978,098 shares of the financial services provider’s stock valued at $45,482,000 after acquiring an additional 25,343 shares during the period. Vanguard Group Inc. increased its position in shares of Community Trust Bancorp by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 880,354 shares of the financial services provider’s stock valued at $38,516,000 after acquiring an additional 5,224 shares during the period. Dalton Greiner Hartman Maher & Co. increased its position in shares of Community Trust Bancorp by 4.6% in the 4th quarter. Dalton Greiner Hartman Maher & Co. now owns 505,257 shares of the financial services provider’s stock valued at $23,798,000 after acquiring an additional 22,070 shares during the period. Finally, State Street Corp increased its position in shares of Community Trust Bancorp by 4.0% in the 2nd quarter. State Street Corp now owns 298,264 shares of the financial services provider’s stock valued at $13,047,000 after acquiring an additional 11,508 shares during the period. 56.67% of the stock is currently owned by hedge funds and other institutional investors.
About Community Trust Bancorp
Community Trust Bancorp, Inc is a bank holding company. The Company holds interests in a commercial bank, Community Trust Bank, Inc (the Bank), and a trust company, Community Trust and Investment Company. Through its subsidiaries, the Company engages in a range of commercial and personal banking, and trust and wealth management activities, which include accepting time and demand deposits; making secured and unsecured loans to corporations, individuals and others; providing cash management services to corporate and individual customers; issuing letters of credit; renting safe deposit boxes, and providing funds transfer services.
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