30,448 Shares in Community Trust Bancorp, Inc. $CTBI Bought by Empowered Funds LLC

Empowered Funds LLC purchased a new stake in Community Trust Bancorp, Inc. (NASDAQ:CTBI) in the second quarter, HoldingsChannel reports. The firm purchased 30,448 shares of the financial services provider’s stock, valued at approximately $2,203,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CTBI. Public Employees Retirement System of Ohio purchased a new stake in shares of Community Trust Bancorp in the second quarter valued at about $531,000. Bank of America Corp DE purchased a new position in shares of Community Trust Bancorp during the 2nd quarter worth approximately $2,736,000. Odyssean LLC purchased a new position in shares of Community Trust Bancorp during the 2nd quarter worth approximately $369,000. Jupiter Topco LLC acquired a new position in shares of Community Trust Bancorp during the 2nd quarter worth approximately $14,956,000. Finally, Hsbc Holdings PLC acquired a new position in shares of Community Trust Bancorp during the 2nd quarter worth approximately $1,627,000. Institutional investors and hedge funds own 60.20% of the company’s stock.

Insider Buying and Selling

In other Community Trust Bancorp news, Director Franky Minnifield sold 3,900 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $78.85, for a total transaction of $307,515.00. Following the completion of the sale, the director owned 8,320 shares in the company, valued at $656,032. This trade represents a 31.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is owned by corporate insiders.

Community Trust Bancorp Trading Up 1.8%

Shares of CTBI opened at $77.06 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $1.40 billion, a P/E ratio of 12.91 and a beta of 0.52. The stock’s fifty day simple moving average is $75.71 and its 200 day simple moving average is $68.29. Community Trust Bancorp, Inc. has a twelve month low of $50.25 and a twelve month high of $79.92.

Community Trust Bancorp (NASDAQ:CTBI) last released its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.12. Community Trust Bancorp had a return on equity of 12.52% 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. On average, equities research analysts forecast that Community Trust Bancorp, Inc. will post 6.41 earnings per share for the current year.

Community Trust Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be issued a $0.65 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $2.60 dividend on an annualized basis and a yield of 3.4%. This is an increase from Community Trust Bancorp’s previous quarterly dividend of $0.53. Community Trust Bancorp’s dividend payout ratio (DPR) is presently 35.51%.

Analyst Ratings Changes

A number of analysts recently commented on CTBI shares. Weiss Ratings upgraded Community Trust Bancorp from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Thursday, August 13th. Zacks Research lowered shares of Community Trust Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 16th. Raymond James Financial began coverage on shares of Community Trust Bancorp in a research note on Tuesday. They set an “outperform” rating and a $82.00 price target on the stock. Finally, Piper Sandler lifted their price target on shares of Community Trust Bancorp from $76.00 to $81.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Community Trust Bancorp presently has a consensus rating of “Moderate Buy” and an average 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.