Maltese Capital Management LLC Raises Stock Holdings in Community Trust Bancorp, Inc. $CTBI

Maltese Capital Management LLC boosted its holdings in Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 266.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,000 shares of the financial services provider’s stock after buying an additional 40,000 shares during the period. Maltese Capital Management LLC owned approximately 0.30% of Community Trust Bancorp worth $3,108,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Assetmark Inc. bought a new position in shares of Community Trust Bancorp in the fourth quarter worth approximately $27,000. Quadrant Capital Group LLC bought a new position in Community Trust Bancorp in the 3rd quarter worth $86,000. Russell Investments Group Ltd. lifted its position in shares of Community Trust Bancorp by 478.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,650 shares of the financial services provider’s stock worth $92,000 after purchasing an additional 1,365 shares during the period. Strs Ohio bought a new stake in shares of Community Trust Bancorp during the 1st quarter valued at about $86,000. Finally, Virtus Advisers LLC bought a new position in Community Trust Bancorp in the third quarter worth about $142,000. Hedge funds and other institutional investors own 60.20% of the company’s stock.

Community Trust Bancorp Trading Down 3.3%

Shares of NASDAQ CTBI opened at $68.82 on Tuesday. The business has a fifty day moving average price of $66.02 and a 200 day moving average price of $62.12. The stock has a market capitalization of $1.25 billion, a P/E ratio of 12.05 and a beta of 0.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.92 and a quick ratio of 0.92. Community Trust Bancorp, Inc. has a 1-year low of $49.61 and a 1-year high of $71.28.

Community Trust Bancorp (NASDAQ:CTBI) last announced its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.11. The company had revenue of $74.20 million during the quarter, compared to the consensus estimate of $73.00 million. Community Trust Bancorp had a return on equity of 12.27% and a net margin of 24.85%. Equities research analysts expect that Community Trust Bancorp, Inc. will post 6.13 EPS for the current fiscal year.

Community Trust Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Monday, June 15th. Community Trust Bancorp’s dividend payout ratio (DPR) is 37.13%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CTBI shares. Weiss Ratings raised Community Trust Bancorp from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, May 18th. Piper Sandler began coverage on Community Trust Bancorp in a report on Thursday, June 11th. They set a “neutral” rating and a $76.00 price target for the company. Finally, Zacks Research upgraded shares of Community Trust Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 24th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $68.50.

Community Trust Bancorp 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.