Community Trust Bancorp, Inc. $CTBI Shares Purchased by Lone Peak Global Investors LLC

Lone Peak Global Investors LLC grew its holdings in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 6.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 300,504 shares of the financial services provider’s stock after buying an additional 17,388 shares during the quarter. Community Trust Bancorp accounts for 3.0% of Lone Peak Global Investors LLC’s portfolio, making the stock its 14th largest position. Lone Peak Global Investors LLC owned about 1.65% of Community Trust Bancorp worth $21,744,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CTBI. Susquehanna Fundamental Investments LLC acquired a new stake in Community Trust Bancorp in the 2nd quarter valued at $390,000. Hsbc Holdings PLC boosted its position in shares of Community Trust Bancorp by 18.3% in the second quarter. Hsbc Holdings PLC now owns 22,515 shares of the financial services provider’s stock worth $1,627,000 after buying an additional 3,484 shares during the period. Empowered Funds LLC purchased a new stake in shares of Community Trust Bancorp in the second quarter worth about $2,203,000. Public Employees Retirement System of Ohio acquired a new position in Community Trust Bancorp during the 2nd quarter worth approximately $531,000. Finally, Bank of America Corp DE purchased a new position in Community Trust Bancorp in the 2nd quarter worth approximately $2,736,000. Hedge funds and other institutional investors own 60.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CTBI. Piper Sandler lifted their price objective on shares of Community Trust Bancorp from $76.00 to $81.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Zacks Research lowered shares of Community Trust Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 16th. Weiss Ratings raised shares of Community Trust Bancorp from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Thursday, August 13th. Finally, Raymond James Financial began coverage on shares of Community Trust Bancorp in a report on Tuesday. They issued an “outperform” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $81.50.

Insider Buying and Selling

In other Community Trust Bancorp news, Director Franky Minnifield sold 3,900 shares of the firm’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $78.85, for a total transaction of $307,515.00. Following the completion of the transaction, the director directly owned 8,320 shares of the company’s stock, valued at $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 available at the SEC website. 2.60% of the stock is owned by company insiders.

Community Trust Bancorp Price Performance

CTBI stock opened at $75.71 on Wednesday. The stock’s 50 day moving average is $75.58 and its two-hundred day moving average is $68.19. Community Trust Bancorp, Inc. has a 52-week low of $50.25 and a 52-week high of $79.92. The company has a market capitalization of $1.38 billion, a PE ratio of 12.68 and a beta of 0.52. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.08.

Community Trust Bancorp (NASDAQ:CTBI) last released 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 company had revenue of $78.49 million during the quarter, compared to analysts’ expectations of $76.85 million. Analysts predict that Community Trust Bancorp, Inc. will post 6.41 earnings per share for the current fiscal year.

Community Trust Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.65 per share. This is a positive change from Community Trust Bancorp’s previous quarterly dividend of $0.53. The ex-dividend date is Tuesday, September 15th. This represents a $2.60 dividend on an annualized basis and a yield of 3.4%. 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.