Community Trust Bancorp, Inc. $CTBI Stock Position Boosted by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 28.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 51,377 shares of the financial services provider’s stock after buying an additional 11,484 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Community Trust Bancorp were worth $2,719,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Equitable Trust Co. increased its stake in shares of Community Trust Bancorp by 3.4% during the second quarter. Equitable Trust Co. now owns 5,930 shares of the financial services provider’s stock valued at $314,000 after acquiring an additional 193 shares during the period. PNC Financial Services Group Inc. lifted its position in Community Trust Bancorp by 39.8% in the first quarter. PNC Financial Services Group Inc. now owns 801 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 228 shares during the period. BTC Capital Management Inc. boosted its stake in Community Trust Bancorp by 3.4% during the 2nd quarter. BTC Capital Management Inc. now owns 7,811 shares of the financial services provider’s stock valued at $412,000 after purchasing an additional 259 shares in the last quarter. SummerHaven Investment Management LLC increased its position in shares of Community Trust Bancorp by 1.6% during the 2nd quarter. SummerHaven Investment Management LLC now owns 18,571 shares of the financial services provider’s stock valued at $983,000 after purchasing an additional 293 shares during the period. Finally, CWM LLC raised its stake in shares of Community Trust Bancorp by 11.4% in the 1st quarter. CWM LLC now owns 3,516 shares of the financial services provider’s stock worth $177,000 after buying an additional 361 shares in the last quarter. 60.20% of the stock is owned by institutional investors and hedge funds.

Community Trust Bancorp Price Performance

NASDAQ CTBI opened at $54.32 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. Community Trust Bancorp, Inc. has a 1 year low of $44.60 and a 1 year high of $61.67. The company has a market cap of $984.06 million, a PE ratio of 10.51 and a beta of 0.60. The stock’s 50-day moving average price is $54.48 and its two-hundred day moving average price is $54.06.

Community Trust Bancorp (NASDAQ:CTBI) last released its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $1.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.06). Community Trust Bancorp had a net margin of 23.24% and a return on equity of 11.91%. The firm had revenue of $71.50 million for the quarter, compared to analyst estimates of $71.85 million. On average, analysts predict that Community Trust Bancorp, Inc. will post 5.06 EPS for the current year.

Community Trust Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 15th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Monday, December 15th. Community Trust Bancorp’s payout ratio is presently 41.01%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CTBI. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Community Trust Bancorp in a research note on Thursday, October 30th. Raymond James Financial set a $61.00 price objective on shares of Community Trust Bancorp in a research report on Wednesday, October 15th. Finally, Piper Sandler initiated coverage on shares of Community Trust Bancorp in a report on Monday, August 18th. They issued an “overweight” rating and a $66.00 target price on the stock. Three research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $63.50.

Insiders Place Their Bets

In other Community Trust Bancorp news, EVP Andy D. Waters sold 918 shares of the firm’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $56.18, for a total transaction of $51,573.24. Following the completion of the sale, the executive vice president directly owned 632 shares in the company, valued at approximately $35,505.76. This trade represents a 59.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 4.30% of the company’s stock.

Community Trust Bancorp Profile

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.