Community Trust Bancorp, Inc. (NASDAQ:CTBI) Position Reduced by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System cut its position in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBIGet Rating) by 15.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,630 shares of the financial services provider’s stock after selling 2,320 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.07% of Community Trust Bancorp worth $511,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CTBI. Nisa Investment Advisors LLC purchased a new stake in shares of Community Trust Bancorp in the first quarter worth approximately $27,000. Advisor Group Holdings Inc. lifted its position in shares of Community Trust Bancorp by 59.1% in the first quarter. Advisor Group Holdings Inc. now owns 11,661 shares of the financial services provider’s stock worth $1,165,000 after purchasing an additional 4,332 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Community Trust Bancorp in the first quarter worth approximately $86,000. MCF Advisors LLC purchased a new stake in shares of Community Trust Bancorp in the first quarter worth approximately $54,000. Finally, Qube Research & Technologies Ltd purchased a new stake in shares of Community Trust Bancorp in the first quarter worth approximately $261,000. 58.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP James B. Draughn sold 5,000 shares of the stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $47.36, for a total value of $236,800.00. Following the transaction, the executive vice president now owns 13,871 shares in the company, valued at $656,930.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.10% of the stock is currently owned by corporate insiders.

Community Trust Bancorp Trading Up 0.0 %

NASDAQ:CTBI opened at $46.71 on Friday. The stock’s 50 day moving average price is $43.95 and its 200 day moving average price is $42.52. Community Trust Bancorp, Inc. has a 52 week low of $39.10 and a 52 week high of $47.90. The company has a market capitalization of $837.04 million, a P/E ratio of 10.59 and a beta of 0.75. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.81 and a current ratio of 0.81.

Community Trust Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, January 1st. Investors of record on Thursday, December 15th will be issued a $0.44 dividend. The ex-dividend date is Wednesday, December 14th. This represents a $1.76 dividend on an annualized basis and a yield of 3.77%. Community Trust Bancorp’s dividend payout ratio is currently 39.91%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Community Trust Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday.

About Community Trust Bancorp

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Community Trust Bancorp, Inc operates as the bank holding company for Community Trust Bank, Inc that provides commercial and personal banking services to small and mid-sized communities. The company accepts time and demand deposits, checking accounts, savings accounts and savings certificates, individual retirement accounts and Keogh plans, and money market accounts.

Further Reading

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Institutional Ownership by Quarter for Community Trust Bancorp (NASDAQ:CTBI)

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