Snowden Capital Advisors LLC Sells 464 Shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI)

Snowden Capital Advisors LLC lessened its position in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 3.8% in the fourth quarter, HoldingsChannel reports. The fund owned 11,616 shares of the financial services provider’s stock after selling 464 shares during the period. Snowden Capital Advisors LLC’s holdings in Community Trust Bancorp were worth $621,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in CTBI. Barclays PLC boosted its holdings in shares of Community Trust Bancorp by 45.8% during the third quarter. Barclays PLC now owns 50,376 shares of the financial services provider’s stock worth $2,502,000 after acquiring an additional 15,832 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Community Trust Bancorp by 9.7% during the third quarter. Franklin Resources Inc. now owns 10,044 shares of the financial services provider’s stock worth $503,000 after acquiring an additional 889 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Community Trust Bancorp by 95.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 26,620 shares of the financial services provider’s stock worth $1,412,000 after acquiring an additional 13,012 shares during the period. Merit Financial Group LLC boosted its holdings in shares of Community Trust Bancorp by 9.7% during the fourth quarter. Merit Financial Group LLC now owns 5,217 shares of the financial services provider’s stock worth $277,000 after acquiring an additional 462 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in shares of Community Trust Bancorp by 29.9% during the fourth quarter. SG Americas Securities LLC now owns 5,469 shares of the financial services provider’s stock worth $290,000 after acquiring an additional 1,258 shares during the period. Institutional investors own 60.20% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Piper Sandler dropped their price target on shares of Community Trust Bancorp from $60.00 to $56.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Raymond James dropped their price target on shares of Community Trust Bancorp from $60.00 to $58.00 and set an “outperform” rating for the company in a research report on Wednesday, April 2nd.

Community Trust Bancorp Stock Down 0.1%

NASDAQ CTBI opened at $52.65 on Wednesday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.09. Community Trust Bancorp, Inc. has a 1-year low of $40.19 and a 1-year high of $61.67. The company has a 50 day moving average of $49.74 and a 200-day moving average of $53.32. The company has a market cap of $953.54 million, a price-to-earnings ratio of 11.42 and a beta of 0.56.

Community Trust Bancorp (NASDAQ:CTBI) last released its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.03. Community Trust Bancorp had a net margin of 22.02% and a return on equity of 11.36%. The company had revenue of $66.16 million during the quarter, compared to the consensus estimate of $64.92 million. During the same period in the previous year, the business earned $1.04 earnings per share. On average, equities research analysts expect that Community Trust Bancorp, Inc. will post 5.06 earnings per share for the current fiscal year.

Community Trust Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Sunday, June 15th will be given a $0.47 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.57%. Community Trust Bancorp’s payout ratio is 39.25%.

About Community Trust Bancorp

Community Trust Bancorp, Inc operates as the bank holding company for Community Trust Bank, Inc that engages in the provision of commercial and personal banking, and trust and wealth management services to small and mid-sized communities in eastern, northeastern, central, and south-central Kentucky, as well as southern West Virginia, and northeastern Tennessee.