Community Trust assumed with an Overweight at Piper Sandler

Piper Sandler analyst Casey Orr Whitman assumed coverage of Community Trust Bancorp with an Overweight rating and $47 price target. Community Trust is a high-quality bank that has been around 100 years, with a long history of an above peer return on assets and a conservative credit culture, the analyst tells investors in a research note. The firm says the bank’s excess capital also stands out with low commercial real estate concentration and positioning to do acquisitions.