Raymond James Issues Pessimistic Forecast for Community Trust Bancorp (NASDAQ:CTBI) Stock Price

Community Trust Bancorp (NASDAQ:CTBI - Free Report) had its price objective lowered by Raymond James from $60.00 to $58.00 in a research note published on Wednesday morning,Benzinga reports. Raymond James currently has an outperform rating on the financial services provider's stock.

Community Trust Bancorp Stock Down 1.9 %

CTBI stock traded down $0.88 during mid-day trading on Wednesday, reaching $45.74. The company had a trading volume of 43,021 shares, compared to its average volume of 54,266. Community Trust Bancorp has a fifty-two week low of $39.28 and a fifty-two week high of $61.67. The company has a market capitalization of $827.89 million, a price-to-earnings ratio of 9.97 and a beta of 0.55. 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 firm has a fifty day simple moving average of $52.98 and a 200 day simple moving average of $53.56.

Community Trust Bancorp (NASDAQ:CTBI - Get Free Report) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.20 by $0.05. Community Trust Bancorp had a net margin of 22.02% and a return on equity of 11.36%. During the same period in the prior year, the company earned $1.04 earnings per share. Analysts forecast that Community Trust Bancorp will post 5.06 earnings per share for the current fiscal year.

Community Trust Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Saturday, March 15th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date of this dividend was Friday, March 14th. Community Trust Bancorp's dividend payout ratio is presently 40.78%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. US Bancorp DE boosted its holdings in 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 purchasing an additional 424 shares in the last quarter. Federated Hermes Inc. acquired a new position in shares of Community Trust Bancorp in the 4th quarter valued at $46,000. Quantbot Technologies LP purchased a new position in shares of Community Trust Bancorp in the 3rd quarter valued at $63,000. New York State Teachers Retirement System purchased a new position in shares of Community Trust Bancorp in the 4th quarter valued at $75,000. Finally, Tower Research Capital LLC TRC raised its stake in Community Trust Bancorp by 317.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,824 shares of the financial services provider's stock worth $97,000 after acquiring an additional 1,387 shares in the last quarter. Hedge funds and other institutional investors own 60.20% of the company's stock.

Community Trust Bancorp Company Profile

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.