Piper Sandler Reiterates Overweight Rating for Community Trust Bancorp (NASDAQ:CTBI)

Piper Sandler restated their overweight rating on shares of Community Trust Bancorp (NASDAQ:CTBI - Free Report) in a report issued on Friday, MarketBeat Ratings reports. They currently have a $64.00 target price on the financial services provider's stock.

Separately, Raymond James upgraded Community Trust Bancorp from a "market perform" rating to an "outperform" rating and set a $60.00 price target on the stock in a report on Friday, October 18th.

Community Trust Bancorp Trading Up 1.6 %

Shares of Community Trust Bancorp stock traded up $0.89 on Friday, reaching $57.76. 42,563 shares of the company were exchanged, compared to its average volume of 49,506. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09. 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 market capitalization of $1.04 billion, a price-to-earnings ratio of 13.10 and a beta of 0.63. The stock has a fifty day moving average price of $50.20 and a 200-day moving average price of $46.59.

Community Trust Bancorp (NASDAQ:CTBI - Get Free Report) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.23 EPS for the quarter, topping the consensus estimate of $1.15 by $0.08. The company had revenue of $95.38 million during the quarter, compared to analysts' expectations of $62.00 million. Community Trust Bancorp had a net margin of 21.64% and a return on equity of 11.13%. On average, analysts expect that Community Trust Bancorp will post 4.55 EPS for the current year.

Community Trust Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Sunday, December 15th will be given a dividend of $0.47 per share. The ex-dividend date is Friday, December 13th. This represents a $1.88 annualized dividend and a dividend yield of 3.25%. Community Trust Bancorp's dividend payout ratio (DPR) is presently 42.73%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CTBI. Thoroughbred Financial Services LLC bought a new position in Community Trust Bancorp during the 2nd quarter valued at about $2,891,000. LSV Asset Management raised its position in Community Trust Bancorp by 9.0% in the 1st quarter. LSV Asset Management now owns 290,157 shares of the financial services provider's stock valued at $12,375,000 after purchasing an additional 23,890 shares during the last quarter. Heartland Advisors Inc. grew its holdings in shares of Community Trust Bancorp by 216.9% during the first quarter. Heartland Advisors Inc. now owns 161,700 shares of the financial services provider's stock worth $6,897,000 after purchasing an additional 110,681 shares during the last quarter. Creative Planning bought a new position in shares of Community Trust Bancorp in the third quarter valued at about $498,000. Finally, Bank of Montreal Can bought a new stake in Community Trust Bancorp during the 2nd quarter worth about $764,000. 60.20% of the stock is currently 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.