Community Trust Bancorp (NASDAQ:CTBI) Coverage Initiated at Piper Sandler

Investment analysts at Piper Sandler assumed coverage on shares of Community Trust Bancorp (NASDAQ:CTBI) in a report released on Thursday, MarketBeat.com reports. The brokerage set a “neutral” rating and a $76.00 price target on the financial services provider’s stock. Piper Sandler’s price target would suggest a potential upside of 7.80% from the stock’s current price.

Several other equities research analysts have also recently weighed in on CTBI. Zacks Research upgraded shares of Community Trust Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 24th. Weiss Ratings upgraded Community Trust Bancorp from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, May 18th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Community Trust Bancorp currently has a consensus rating of “Buy” and an average target price of $68.50.

Community Trust Bancorp Stock Performance

CTBI stock traded up $1.36 on Thursday, reaching $70.50. 4,354 shares of the company were exchanged, compared to its average volume of 85,370. The firm has a market capitalization of $1.28 billion, a PE ratio of 12.33 and a beta of 0.54. Community Trust Bancorp has a 12 month low of $49.61 and a 12 month high of $71.08. The stock’s fifty day moving average price is $65.50 and its 200 day moving average price is $61.81. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.92 and a quick ratio of 0.92.

Community Trust Bancorp (NASDAQ:CTBI) last issued its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.11. Community Trust Bancorp had a net margin of 24.85% and a return on equity of 12.27%. The firm had revenue of $74.20 million during the quarter, compared to the consensus estimate of $73.00 million. On average, research analysts anticipate that Community Trust Bancorp will post 6.08 EPS for the current fiscal year.

Institutional Trading of Community Trust Bancorp

Several institutional investors have recently made changes to their positions in CTBI. American Century Companies Inc. raised its position in Community Trust Bancorp by 10.1% in the third quarter. American Century Companies Inc. now owns 452,995 shares of the financial services provider’s stock worth $25,345,000 after purchasing an additional 41,551 shares in the last quarter. Clifford Capital Partners LLC boosted its holdings in Community Trust Bancorp by 0.3% during the third quarter. Clifford Capital Partners LLC now owns 283,410 shares of the financial services provider’s stock valued at $15,857,000 after purchasing an additional 822 shares in the last quarter. LSV Asset Management grew its stake in shares of Community Trust Bancorp by 14.9% in the 4th quarter. LSV Asset Management now owns 280,380 shares of the financial services provider’s stock valued at $15,841,000 after purchasing an additional 36,300 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Community Trust Bancorp by 5.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 213,223 shares of the financial services provider’s stock valued at $12,047,000 after purchasing an additional 10,892 shares during the period. Finally, Janus Henderson Group PLC raised its holdings in shares of Community Trust Bancorp by 114.0% in the 1st quarter. Janus Henderson Group PLC now owns 192,413 shares of the financial services provider’s stock worth $11,684,000 after buying an additional 102,488 shares in the last quarter. 60.20% of the stock is currently owned by institutional investors and hedge funds.

About Community Trust Bancorp

Community Trust Bancorp, Inc is a bank holding company headquartered in Pikeville, Kentucky. As the parent of Community Trust Bank, the company provides a comprehensive range of banking services to individuals, families and businesses throughout eastern Kentucky, southern West Virginia and northeast Tennessee. With origins dating back to the early 20th century, the organization has built a reputation for supporting community development and regional economic growth across the Appalachian region.

The company’s personal banking offerings include checking and savings accounts, consumer installment loans, home equity and mortgage lending, as well as online and mobile banking platforms.