Community Trust Bancorp (NASDAQ:CTBI) Price Target Lowered to $58.00 at Raymond James

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

Community Trust Bancorp Stock Performance

CTBI stock opened at $50.45 on Wednesday. The company has a market capitalization of $913.25 million, a P/E ratio of 10.94 and a beta of 0.62. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.09. The company has a 50-day simple moving average of $53.25 and a 200 day simple moving average of $53.57. 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 data on Wednesday, January 15th. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate 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 previous year, the firm earned $1.04 earnings per share. Sell-side analysts predict that Community Trust Bancorp will post 5.06 earnings per share for the current fiscal year.

Community Trust Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Saturday, March 15th were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.88 annualized dividend and a yield of 3.73%. Community Trust Bancorp’s dividend payout ratio is currently 40.78%.

Institutional Investors Weigh In On Community Trust Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its holdings in shares of Community Trust Bancorp by 1.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,208,065 shares of the financial services provider’s stock worth $64,064,000 after purchasing an additional 21,008 shares in the last quarter. Geode Capital Management LLC grew its position in Community Trust Bancorp by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 374,544 shares of the financial services provider’s stock worth $19,866,000 after buying an additional 1,386 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Community Trust Bancorp by 11.4% in the fourth quarter. American Century Companies Inc. now owns 350,755 shares of the financial services provider’s stock valued at $18,601,000 after buying an additional 35,777 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Community Trust Bancorp by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 126,276 shares of the financial services provider’s stock valued at $6,696,000 after acquiring an additional 904 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Community Trust Bancorp by 25.2% in the 4th quarter. JPMorgan Chase & Co. now owns 119,197 shares of the financial services provider’s stock worth $6,321,000 after acquiring an additional 23,964 shares during the last quarter. 60.20% of the stock is 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.