Janus Henderson Group PLC Boosts Holdings in Community Trust Bancorp, Inc. $CTBI

Janus Henderson Group PLC boosted its holdings in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 114.0% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 192,413 shares of the financial services provider’s stock after buying an additional 102,488 shares during the quarter. Janus Henderson Group PLC’s holdings in Community Trust Bancorp were worth $11,684,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Assetmark Inc. bought a new position in Community Trust Bancorp in the fourth quarter worth approximately $27,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of Community Trust Bancorp during the 4th quarter valued at $30,000. Quadrant Capital Group LLC bought a new stake in shares of Community Trust Bancorp during the 3rd quarter valued at $86,000. Strs Ohio purchased a new stake in shares of Community Trust Bancorp in the 1st quarter worth $86,000. Finally, Russell Investments Group Ltd. increased its stake in shares of Community Trust Bancorp by 478.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,650 shares of the financial services provider’s stock worth $92,000 after purchasing an additional 1,365 shares in the last quarter. 60.20% of the stock is owned by hedge funds and other institutional investors.

Community Trust Bancorp Stock Performance

CTBI opened at $79.47 on Wednesday. The firm has a market cap of $1.44 billion, a P/E ratio of 13.31 and a beta of 0.53. Community Trust Bancorp, Inc. has a 1-year low of $50.25 and a 1-year high of $79.92. The company has a 50 day simple moving average of $71.95 and a two-hundred day simple moving average of $66.07. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.92 and a quick ratio of 0.92.

Community Trust Bancorp (NASDAQ:CTBI) last announced its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $1.64 EPS for the quarter, beating the consensus estimate of $1.52 by $0.12. The firm had revenue of $78.49 million for the quarter, compared to the consensus estimate of $76.85 million. Community Trust Bancorp had a net margin of 25.55% and a return on equity of 12.66%. Equities analysts forecast that Community Trust Bancorp, Inc. will post 6.41 earnings per share for the current fiscal year.

Community Trust Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be given a dividend of $0.65 per share. This is an increase from Community Trust Bancorp’s previous quarterly dividend of $0.53. This represents a $2.60 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Tuesday, September 15th. Community Trust Bancorp’s dividend payout ratio (DPR) is 35.51%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Raymond James Financial reiterated an “outperform” rating and set a $82.00 target price on shares of Community Trust Bancorp in a research report on Thursday, July 16th. Piper Sandler upped their price target on Community Trust Bancorp from $76.00 to $81.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. Weiss Ratings cut Community Trust Bancorp from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday. Finally, Zacks Research downgraded Community Trust Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 16th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Community Trust Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.50.

Community Trust Bancorp Company Profile

Community Trust Bancorp, Inc is a bank holding company headquartered in Pikeville, Kentucky. As the parent of Community Trust Bank, the company provides a comprehensive range of banking services to individuals, families and businesses throughout eastern Kentucky, southern West Virginia and northeast Tennessee. With origins dating back to the early 20th century, the organization has built a reputation for supporting community development and regional economic growth across the Appalachian region.

The company’s personal banking offerings include checking and savings accounts, consumer installment loans, home equity and mortgage lending, as well as online and mobile banking platforms.