GSA Capital Partners LLP Invests $623,000 in Community Trust Bancorp, Inc. $CTBI

GSA Capital Partners LLP bought a new position in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 8,607 shares of the financial services provider’s stock, valued at approximately $623,000.

Other hedge funds also recently added to or reduced their stakes in the company. LSV Asset Management boosted its position in Community Trust Bancorp by 14.9% in the 4th quarter. LSV Asset Management now owns 280,380 shares of the financial services provider’s stock valued at $15,841,000 after buying an additional 36,300 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Community Trust Bancorp by 5.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 213,223 shares of the financial services provider’s stock valued at $12,047,000 after acquiring an additional 10,892 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Community Trust Bancorp by 114.0% in the first quarter. Janus Henderson Group PLC now owns 192,413 shares of the financial services provider’s stock valued at $11,684,000 after acquiring an additional 102,488 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Community Trust Bancorp by 60.4% in the fourth quarter. JPMorgan Chase & Co. now owns 147,957 shares of the financial services provider’s stock valued at $8,360,000 after purchasing an additional 55,733 shares during the period. Finally, AQR Capital Management LLC grew its stake in Community Trust Bancorp by 0.5% during the 2nd quarter. AQR Capital Management LLC now owns 140,460 shares of the financial services provider’s stock worth $7,433,000 after purchasing an additional 648 shares in the last quarter. 60.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Zacks Research downgraded Community Trust Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 16th. Piper Sandler lifted their price objective on Community Trust Bancorp from $76.00 to $81.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Raymond James Financial reissued an “outperform” rating and set a $82.00 price objective on shares of Community Trust Bancorp in a research report on Thursday, July 16th. Finally, Weiss Ratings upgraded shares of Community Trust Bancorp from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.50.

Insider Activity at Community Trust Bancorp

In other news, Director Franky Minnifield sold 3,900 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $78.85, for a total transaction of $307,515.00. Following the sale, the director owned 8,320 shares of the company’s stock, valued at approximately $656,032. This trade represents a 31.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.60% of the company’s stock.

Community Trust Bancorp Price Performance

Community Trust Bancorp stock opened at $76.22 on Friday. 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 company has a fifty day simple moving average of $74.43 and a 200-day simple moving average of $67.50. The stock has a market cap of $1.38 billion, a P/E ratio of 12.77 and a beta of 0.53. Community Trust Bancorp, Inc. has a 12-month low of $50.25 and a 12-month high of $79.92.

Community Trust Bancorp (NASDAQ:CTBI) last posted its earnings results 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. Community Trust Bancorp had a return on equity of 12.52% and a net margin of 25.55%.The firm had revenue of $78.49 million for the quarter, compared to analyst estimates of $76.85 million. Equities analysts expect that Community Trust Bancorp, Inc. will post 6.41 EPS for the current fiscal year.

Community Trust Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $2.60 annualized dividend and a dividend yield of 3.4%. This is an increase from Community Trust Bancorp’s previous quarterly dividend of $0.53. Community Trust Bancorp’s payout ratio is currently 35.51%.

About Community Trust Bancorp

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.