Community Trust & Investment Co. Has $72.68 Million Stock Position in Community Trust Bancorp, Inc. $CTBI

Community Trust & Investment Co. lessened its position in Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 51.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,004,407 shares of the financial services provider’s stock after selling 1,083,681 shares during the period. Community Trust Bancorp comprises approximately 3.8% of Community Trust & Investment Co.’s holdings, making the stock its 6th biggest holding. Community Trust & Investment Co. owned about 5.53% of Community Trust Bancorp worth $72,679,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Thrivent Financial for Lutherans lifted its position in Community Trust Bancorp by 0.3% during the 4th quarter. Thrivent Financial for Lutherans now owns 55,617 shares of the financial services provider’s stock worth $3,143,000 after buying an additional 163 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in shares of Community Trust Bancorp by 7.6% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 2,958 shares of the financial services provider’s stock valued at $156,000 after acquiring an additional 208 shares in the last quarter. BTC Capital Management Inc. grew its holdings in shares of Community Trust Bancorp by 4.0% in the 1st quarter. BTC Capital Management Inc. now owns 9,139 shares of the financial services provider’s stock valued at $555,000 after acquiring an additional 350 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Community Trust Bancorp by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,122 shares of the financial services provider’s stock valued at $459,000 after acquiring an additional 381 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in Community Trust Bancorp by 4.5% during the fourth quarter. Franklin Resources Inc. now owns 10,496 shares of the financial services provider’s stock worth $593,000 after acquiring an additional 452 shares in the last quarter. Institutional investors own 60.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Weiss Ratings downgraded Community Trust Bancorp from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday, July 31st. Piper Sandler increased their price objective on Community Trust Bancorp from $76.00 to $81.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Raymond James Financial reissued an “outperform” rating and issued a $82.00 target price on shares of Community Trust Bancorp in a research note on Thursday, July 16th. Finally, Zacks Research lowered shares of Community Trust Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $81.50.

Community Trust Bancorp Stock Performance

Shares of NASDAQ CTBI opened at $77.76 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.08. Community Trust Bancorp, Inc. has a 12 month low of $50.25 and a 12 month high of $79.92. The stock has a 50 day moving average of $72.65 and a 200-day moving average of $66.41. The company has a market capitalization of $1.41 billion, a P/E ratio of 13.03 and a beta of 0.53.

Community Trust Bancorp (NASDAQ:CTBI) last posted its earnings results on Wednesday, July 15th. The financial services provider reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.12. Community Trust Bancorp had a return on equity of 12.66% and a net margin of 25.55%.The business had revenue of $78.49 million for the quarter, compared to analyst estimates of $76.85 million. As a group, equities research analysts predict that Community Trust Bancorp, Inc. will post 6.41 EPS for the current year.

Community Trust Bancorp Increases Dividend

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

Community Trust Bancorp 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.