Community Trust Bancorp (NASDAQ:CTBI) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.
CTBI has been the topic of several other research reports. BidaskClub upgraded Community Trust Bancorp from a “strong sell” rating to a “sell” rating in a research note on Friday, March 9th. Zacks Investment Research upgraded Community Trust Bancorp from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a research note on Thursday, March 29th.
CTBI stock traded up $0.40 during midday trading on Thursday, reaching $51.00. The company’s stock had a trading volume of 31,604 shares, compared to its average volume of 45,015. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.11. Community Trust Bancorp has a 1 year low of $49.90 and a 1 year high of $50.40. The firm has a market cap of $884.49 million, a price-to-earnings ratio of 18.21 and a beta of 0.67.
Institutional investors have recently made changes to their positions in the company. Millennium Management LLC purchased a new position in shares of Community Trust Bancorp during the fourth quarter valued at $215,000. Teacher Retirement System of Texas purchased a new position in shares of Community Trust Bancorp during the fourth quarter valued at $260,000. Legal & General Group Plc increased its stake in shares of Community Trust Bancorp by 48.8% during the first quarter. Legal & General Group Plc now owns 5,958 shares of the financial services provider’s stock valued at $270,000 after buying an additional 1,953 shares during the period. MetLife Investment Advisors LLC purchased a new position in shares of Community Trust Bancorp during the fourth quarter valued at $384,000. Finally, Stone Ridge Asset Management LLC purchased a new position in shares of Community Trust Bancorp during the fourth quarter valued at $457,000. Hedge funds and other institutional investors own 59.95% 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 provides commercial and personal banking services to small and mid-sized communities. The company accepts time and demand deposits, Keogh plans, and savings certificates, as well as checking and savings, individual retirement, NOW, and money market accounts.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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