Piper Sandler Issues Pessimistic Forecast for Community Trust Bancorp (NASDAQ:CTBI) Stock Price

Community Trust Bancorp (NASDAQ:CTBI - Get Free Report) had its price target decreased by analysts at Piper Sandler from $60.00 to $56.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the financial services provider's stock. Piper Sandler's target price would indicate a potential upside of 15.42% from the stock's current price.

Separately, Raymond James lowered their target price on shares of Community Trust Bancorp from $60.00 to $58.00 and set an "outperform" rating for the company in a research note on Wednesday, April 2nd.

Community Trust Bancorp Price Performance

Shares of NASDAQ:CTBI traded up $1.24 during trading on Thursday, reaching $48.52. The stock had a trading volume of 56,881 shares, compared to its average volume of 55,526. The business has a fifty day moving average price of $50.91 and a 200-day moving average price of $53.37. Community Trust Bancorp has a 1-year low of $40.19 and a 1-year high of $61.67. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market cap of $878.31 million, a PE ratio of 10.52 and a beta of 0.55.

Community Trust Bancorp (NASDAQ:CTBI - Get Free Report) last posted its earnings results on Wednesday, April 16th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.03. The firm had revenue of $66.16 million for the quarter, compared to analyst estimates of $64.92 million. Community Trust Bancorp had a return on equity of 11.36% and a net margin of 22.02%. During the same quarter in the prior year, the company earned $1.04 EPS. On average, equities analysts forecast that Community Trust Bancorp will post 5.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Community Trust Bancorp

Several large investors have recently modified their holdings of CTBI. US Bancorp DE raised its holdings in shares of Community Trust Bancorp by 311.8% in the fourth quarter. US Bancorp DE now owns 560 shares of the financial services provider's stock valued at $30,000 after buying an additional 424 shares during the last quarter. Federated Hermes Inc. purchased a new position in shares of Community Trust Bancorp in the 4th quarter valued at about $46,000. New York State Teachers Retirement System purchased a new stake in shares of Community Trust Bancorp during the 4th quarter worth approximately $75,000. Quantbot Technologies LP boosted its position in Community Trust Bancorp by 43.5% during the fourth quarter. Quantbot Technologies LP now owns 1,824 shares of the financial services provider's stock worth $97,000 after purchasing an additional 553 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in Community Trust Bancorp by 317.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,824 shares of the financial services provider's stock valued at $97,000 after acquiring an additional 1,387 shares during the last quarter. 60.20% of the stock is 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 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.