Published On: Tue, Sep 20th, 2016

Community Trust Bancorp Inc. (CTBI) Cut to Sell at Zacks Investment Research

Community Trust Bancorp Inc. (NASDAQ:CTBI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Monday.
According to Zacks, “Community Trust Financial Services Corporation was incorporated under the laws for the purpose of becoming a bank holding company for Community Trust Bank. The Company is intended to facilitate the Bank’s ability to serve its customers’ requirements for financial services. The primary activity of the Company currently is, and is expected to remain for the foreseeable future, the ownership and operation of the Bank. “
Shares of Community Trust Bancorp (NASDAQ:CTBI) traded down 0.98% during mid-day trading on Monday, reaching $36.55. The company’s stock had a trading volume of 17,717 shares. The firm has a market capitalization of $640.72 million, a P/E ratio of 13.84 and a beta of 0.80. The company’s 50-day moving average is $36.24 and its 200 day moving average is $35.51. Community Trust Bancorp has a 1-year low of $30.89 and a 1-year high of $37.49.

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Community Trust Bancorp (NASDAQ:CTBI) last announced its earnings results on Wednesday, July 20th. The financial services provider reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.68 by $0.02. Community Trust Bancorp had a net margin of 24.13% and a return on equity of 9.61%. On average, analysts expect that Community Trust Bancorp will post $2.70 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, October 1st. Investors of record on Thursday, September 15th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Tuesday, September 13th. This is an increase from Community Trust Bancorp’s previous quarterly dividend of $0.31. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.50%. Community Trust Bancorp’s payout ratio is 48.49%.
In related news, Chairman Jean R. Hale sold 12,427 shares of Community Trust Bancorp stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $36.95, for a total value of $459,177.65. Following the sale, the chairman now directly owns 124,926 shares in the company, valued at $4,616,015.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Mark A. Gooch sold 9,532 shares of Community Trust Bancorp stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $37.19, for a total value of $354,495.08. Following the completion of the sale, the executive vice president now owns 19,585 shares in the company, valued at $728,366.15. The disclosure for this sale can be found here. 5.10% of the stock is owned by corporate insiders.
Several hedge funds have recently bought and sold shares of the stock. Teacher Retirement System of Texas increased its stake in Community Trust Bancorp by 8.3% in the second quarter. Teacher Retirement System of Texas now owns 3,539 shares of the financial services provider’s stock worth $123,000 after buying an additional 271 shares during the period. BlackRock Inc. increased its stake in Community Trust Bancorp by 195.5% in the second quarter. BlackRock Inc. now owns 3,989 shares of the financial services provider’s stock worth $138,000 after buying an additional 2,639 shares during the period. Huntington Asset Advisors Inc. acquired a new stake in Community Trust Bancorp during the first quarter worth $155,000. Advisor Group Inc. acquired a new stake in Community Trust Bancorp during the second quarter worth $202,000. Finally, Private Trust Co. NA acquired a new stake in Community Trust Bancorp during the first quarter worth $265,000. Hedge funds and other institutional investors own 53.44% of the company’s stock.
Community Trust Bancorp Company Profile
Community Trust Bancorp, Inc (CTBI) is a bank holding company. The Company operates in the community banking services segment. The Company owns a commercial bank and a trust company, serving small and mid-sized communities in eastern, northeastern, central and south central Kentucky; southern West Virginia, and northeastern Tennessee.

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