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

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

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

Community Trust Bancorp Trading Down 6.6 %

CTBI opened at $56.87 on Friday. The stock has a market cap of $1.03 billion, a PE ratio of 12.93 and a beta of 0.63. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.09. The business has a 50 day moving average of $50.20 and a 200-day moving average of $46.59. Community Trust Bancorp has a 52 week low of $38.43 and a 52 week high of $61.20.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CTBI. Innealta Capital LLC purchased a new position in shares of Community Trust Bancorp in the second quarter worth $37,000. EntryPoint Capital LLC bought a new stake in shares of Community Trust Bancorp in the first quarter worth $78,000. Coastline Trust Co bought a new stake in shares of Community Trust Bancorp in the third quarter worth $79,000. CWM LLC grew its holdings in shares of Community Trust Bancorp by 1,932.0% in the second quarter. CWM LLC now owns 2,601 shares of the financial services provider’s stock worth $114,000 after acquiring an additional 2,473 shares during the period. Finally, EMC Capital Management bought a new stake in shares of Community Trust Bancorp in the first quarter worth $119,000. Hedge funds and other institutional investors own 60.20% of the company’s stock.

About Community Trust Bancorp

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.