Point72 Asset Management L.P. Sells 2,478 Shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI)

Point72 Asset Management L.P. reduced its stake in Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 43.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,200 shares of the financial services provider’s stock after selling 2,478 shares during the period. Point72 Asset Management L.P.’s holdings in Community Trust Bancorp were worth $170,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. ProShare Advisors LLC bought a new position in shares of Community Trust Bancorp in the fourth quarter worth $229,000. Nuveen Asset Management LLC raised its position in shares of Community Trust Bancorp by 19.6% in the fourth quarter. Nuveen Asset Management LLC now owns 111,538 shares of the financial services provider’s stock worth $5,915,000 after buying an additional 18,260 shares in the last quarter. Occudo Quantitative Strategies LP raised its position in shares of Community Trust Bancorp by 36.3% in the fourth quarter. Occudo Quantitative Strategies LP now owns 6,168 shares of the financial services provider’s stock worth $327,000 after buying an additional 1,644 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Community Trust Bancorp by 3.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,741 shares of the financial services provider’s stock worth $464,000 after buying an additional 323 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of Community Trust Bancorp by 1.7% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 45,683 shares of the financial services provider’s stock worth $2,423,000 after buying an additional 782 shares in the last quarter. 60.20% of the stock is owned by institutional investors.

Community Trust Bancorp Trading Down 0.7%

Shares of CTBI stock opened at $50.82 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.90 and a current ratio of 0.90. Community Trust Bancorp, Inc. has a 52-week low of $40.19 and a 52-week high of $61.67. The company has a market capitalization of $920.40 million, a PE ratio of 11.02 and a beta of 0.56. The business’s fifty day moving average is $49.72 and its 200 day moving average is $53.23.

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 return on equity of 11.36% and a net margin of 22.02%. The business had revenue of $66.16 million for the quarter, compared to the consensus estimate of $64.92 million. During the same quarter last year, the business posted $1.04 earnings per share. On average, equities research analysts anticipate that Community Trust Bancorp, Inc. will post 5.06 EPS for the current fiscal year.

Community Trust Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Sunday, June 15th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.88 dividend on an annualized basis and a yield of 3.70%. Community Trust Bancorp’s payout ratio is 39.25%.

Wall Street Analyst Weigh In

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

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.