Community Trust Bancorp (NASDAQ:CTBI) Upgraded at Raymond James

Raymond James upgraded shares of Community Trust Bancorp (NASDAQ:CTBI) from a market perform rating to an outperform rating in a research report released on Friday morning, Marketbeat Ratings reports. They currently have $60.00 target price on the financial services provider’s stock.

Community Trust Bancorp Trading Down 2.4 %

NASDAQ:CTBI opened at $51.21 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.88. Community Trust Bancorp has a fifty-two week low of $36.00 and a fifty-two week high of $53.50. The stock’s 50-day moving average is $48.93 and its two-hundred day moving average is $45.53. The stock has a market cap of $923.11 million, a PE ratio of 11.88 and a beta of 0.64.

Community Trust Bancorp (NASDAQ:CTBI) last released its 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 return on equity of 11.14% and a net margin of 21.85%. The company had revenue of $95.38 million for the quarter, compared to analysts’ expectations of $62.00 million. As a group, equities research analysts forecast that Community Trust Bancorp will post 4.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Community Trust Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of the business. The Manufacturers Life Insurance Company grew its stake in Community Trust Bancorp by 4.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,112 shares of the financial services provider’s stock valued at $267,000 after acquiring an additional 234 shares in the last quarter. CWM LLC increased its holdings in Community Trust Bancorp by 12.2% in the third quarter. CWM LLC now owns 2,918 shares of the financial services provider’s stock worth $145,000 after buying an additional 317 shares during the last quarter. ClariVest Asset Management LLC increased its holdings in Community Trust Bancorp by 2.9% in the second quarter. ClariVest Asset Management LLC now owns 15,913 shares of the financial services provider’s stock worth $695,000 after buying an additional 445 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Community Trust Bancorp by 0.3% in the second quarter. Renaissance Technologies LLC now owns 143,382 shares of the financial services provider’s stock worth $6,260,000 after buying an additional 500 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in Community Trust Bancorp by 4.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,484 shares of the financial services provider’s stock worth $618,000 after buying an additional 631 shares during the last quarter. 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.