Equitable Trust Co. Decreases Stock Holdings in Community Trust Bancorp, Inc. (NASDAQ:CTBI)

Equitable Trust Co. trimmed its stake in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 10.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,737 shares of the financial services provider’s stock after selling 658 shares during the period. Equitable Trust Co.’s holdings in Community Trust Bancorp were worth $289,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in CTBI. Federated Hermes Inc. bought a new stake in Community Trust Bancorp during the fourth quarter valued at approximately $46,000. Quantbot Technologies LP grew its position in Community Trust Bancorp by 43.5% during the fourth quarter. Quantbot Technologies LP now owns 1,824 shares of the financial services provider’s stock valued at $97,000 after buying an additional 553 shares during the period. Tower Research Capital LLC TRC grew its position in Community Trust Bancorp by 317.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,824 shares of the financial services provider’s stock valued at $97,000 after buying an additional 1,387 shares during the period. Aquatic Capital Management LLC grew its position in Community Trust Bancorp by 207.1% during the fourth quarter. Aquatic Capital Management LLC now owns 2,457 shares of the financial services provider’s stock valued at $130,000 after buying an additional 1,657 shares during the period. Finally, GAMMA Investing LLC grew its position in Community Trust Bancorp by 3,898.5% during the first quarter. GAMMA Investing LLC now owns 2,719 shares of the financial services provider’s stock valued at $137,000 after buying an additional 2,651 shares during the period. 60.20% of the stock is owned by hedge funds and other institutional investors.

Community Trust Bancorp Stock Performance

CTBI opened at $55.73 on Friday. The firm has a market cap of $1.01 billion, a P/E ratio of 10.97 and a beta of 0.58. Community Trust Bancorp, Inc. has a 1-year low of $44.60 and a 1-year high of $61.67. The company has a 50 day simple moving average of $53.12 and a two-hundred day simple moving average of $52.14. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.92 and a quick ratio of 0.92.

Community Trust Bancorp (NASDAQ:CTBI) last posted its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.11. The business had revenue of $70.21 million during the quarter, compared to analyst estimates of $68.00 million. Community Trust Bancorp had a net margin of 23.33% and a return on equity of 11.92%. Equities analysts forecast that Community Trust Bancorp, Inc. will post 5.06 earnings per share for the current fiscal year.

Community Trust Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be given a $0.53 dividend. This is a positive change from Community Trust Bancorp’s previous quarterly dividend of $0.47. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date is Monday, September 15th. Community Trust Bancorp’s dividend payout ratio is presently 41.73%.

Insider Buying and Selling at Community Trust Bancorp

In related news, Director Franky Minnifield bought 2,000 shares of the company’s stock in a transaction that occurred on Monday, June 2nd. The stock was purchased at an average price of $51.01 per share, for a total transaction of $102,020.00. Following the completion of the transaction, the director owned 17,099 shares in the company, valued at $872,219.99. The trade was a 13.25% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

CTBI has been the subject of several recent research reports. Raymond James Financial restated an “outperform” rating and set a $63.00 target price (up from $58.00) on shares of Community Trust Bancorp in a research report on Thursday, July 17th. Piper Sandler cut their target price on shares of Community Trust Bancorp from $60.00 to $56.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th.

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.