Community Trust Bancorp, Inc. $CTBI Stock: Community Trust & Investment Co. Grows Holdings

Community Trust & Investment Co. raised its position in Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 0.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,013,094 shares of the financial services provider’s stock after buying an additional 8,687 shares during the period. Community Trust Bancorp accounts for 3.7% of Community Trust & Investment Co.’s investment portfolio, making the stock its 8th biggest holding. Community Trust & Investment Co. owned 0.06% of Community Trust Bancorp worth $75,192,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of CTBI. Farther Finance Advisors LLC boosted its position in Community Trust Bancorp by 8.5% during the third quarter. Farther Finance Advisors LLC now owns 1,819 shares of the financial services provider’s stock worth $135,000 after purchasing an additional 142 shares during the period. Engineers Gate Manager LP raised its holdings in shares of Community Trust Bancorp by 110.9% during the 2nd quarter. Engineers Gate Manager LP now owns 8,794 shares of the financial services provider’s stock valued at $636,000 after buying an additional 4,624 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of Community Trust Bancorp in the 2nd quarter valued at about $37,000. Baird Financial Group Inc. raised its holdings in Community Trust Bancorp by 9.1% during the 2nd quarter. Baird Financial Group Inc. now owns 32,240 shares of the financial services provider’s stock valued at $2,333,000 after buying an additional 2,688 shares during the last quarter. Finally, Arizona State Retirement System lifted its holdings in Community Trust Bancorp by 9.1% in the 2nd quarter. Arizona State Retirement System now owns 4,883 shares of the financial services provider’s stock worth $353,000 after buying an additional 406 shares during the period. Hedge funds and other institutional investors own 60.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Piper Sandler lifted their target price 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. Weiss Ratings raised Community Trust Bancorp from a “buy (a-)” rating to a “buy (a)” rating in a research report on Thursday, October 8th. Finally, Raymond James Financial initiated coverage on Community Trust Bancorp in a research note on Tuesday, September 1st. They issued an “outperform” rating and a $82.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $81.50.

Community Trust Bancorp Stock Performance

CTBI opened at $74.43 on Friday. The firm has a market cap of $1.35 billion, a P/E ratio of 12.47 and a beta of 0.54. The company has a 50 day simple moving average of $76.31 and a two-hundred day simple moving average of $71.58. Community Trust Bancorp, Inc. has a 1-year low of $50.25 and a 1-year high of $79.92. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.94 and a quick ratio of 0.94.

Community Trust Bancorp (NASDAQ:CTBI) last issued its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $78.49 million during the quarter, compared to analyst estimates of $76.85 million. Equities analysts forecast that Community Trust Bancorp, Inc. will post 6.41 earnings per share for the current fiscal year.

Community Trust Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th were given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 3.5%. This is a boost from Community Trust Bancorp’s previous quarterly dividend of $0.53. The ex-dividend date was Tuesday, September 15th. Community Trust Bancorp’s dividend payout ratio (DPR) is presently 43.55%.

Insider Activity

In other Community Trust Bancorp news, Director Franky Minnifield sold 3,900 shares of the company’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $78.85, for a total value of $307,515.00. Following the transaction, the director owned 8,320 shares of the company’s stock, valued at $656,032. This represents a 31.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Community Trust Bancorp Profile

Community Trust Bancorp, Inc (NASDAQ: CTBI) is a financial holding company headquartered in Pikeville, Kentucky. Through its principal subsidiary, Community Trust Bank, the company provides banking and financial services to individuals, businesses, and public entities.

Community Trust Bank offers deposit accounts, consumer and commercial loans, mortgage lending, credit cards, online and mobile banking, and other retail and business banking services. The company also provides trust and wealth-management services, investment products, and insurance-related services through its affiliated operations.

Founded in 1903, Community Trust has developed a regional banking franchise serving communities primarily across eastern, northeastern, and central Kentucky, as well as southern West Virginia.