Raymond James Has Lowered Expectations for Community Trust Bancorp (NASDAQ:CTBI) Stock Price

Community Trust Bancorp (NASDAQ:CTBI) had its target price lowered by Raymond James from $60.00 to $58.00 in a report issued on Wednesday morning,Benzinga reports. Raymond James currently has an outperform rating on the financial services provider’s stock.

Community Trust Bancorp Stock Performance

NASDAQ CTBI opened at $46.61 on Wednesday. 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’s fifty day moving average is $52.98 and its two-hundred day moving average is $53.51. The firm has a market capitalization of $843.73 million, a P/E ratio of 10.11 and a beta of 0.62. Community Trust Bancorp has a fifty-two week low of $39.28 and a fifty-two week high of $61.67.

Community Trust Bancorp (NASDAQ:CTBI) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.25 EPS for the quarter, topping the consensus estimate of $1.20 by $0.05. Community Trust Bancorp had a return on equity of 11.36% and a net margin of 22.02%. During the same quarter last year, the firm posted $1.04 EPS. On average, research analysts anticipate that Community Trust Bancorp will post 5.06 earnings per share for the current year.

Community Trust Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Saturday, March 15th were paid a $0.47 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.88 annualized dividend and a dividend yield of 4.03%. Community Trust Bancorp’s dividend payout ratio (DPR) is 40.78%.

Institutional Trading of Community Trust Bancorp

Institutional investors have recently made changes to their positions in the company. Aptus Capital Advisors LLC grew its position in Community Trust Bancorp by 1.8% in the fourth quarter. Aptus Capital Advisors LLC now owns 12,456 shares of the financial services provider’s stock worth $666,000 after acquiring an additional 219 shares during the period. LPL Financial LLC grew its holdings in shares of Community Trust Bancorp by 6.6% during the 4th quarter. LPL Financial LLC now owns 4,964 shares of the financial services provider’s stock worth $263,000 after purchasing an additional 307 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Community Trust Bancorp by 3.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,741 shares of the financial services provider’s stock worth $464,000 after purchasing an additional 323 shares during the last quarter. US Bancorp DE raised its holdings in Community Trust Bancorp by 311.8% in the 4th 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 period. Finally, MetLife Investment Management LLC raised its holdings in Community Trust Bancorp by 5.0% in the 4th quarter. MetLife Investment Management LLC now owns 9,236 shares of the financial services provider’s stock valued at $490,000 after buying an additional 439 shares during the period. Hedge funds and other institutional investors own 60.20% of the company’s stock.

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.