Assenagon Asset Management S.A. Acquires 35,765 Shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI)

Assenagon Asset Management S.A. boosted its holdings in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBIFree Report) by 118.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 65,844 shares of the financial services provider’s stock after purchasing an additional 35,765 shares during the quarter. Assenagon Asset Management S.A. owned about 0.37% of Community Trust Bancorp worth $2,888,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Community Trust Bancorp during the fourth quarter valued at approximately $5,802,000. LSV Asset Management raised its position in shares of Community Trust Bancorp by 50.7% during the third quarter. LSV Asset Management now owns 267,757 shares of the financial services provider’s stock valued at $9,173,000 after buying an additional 90,100 shares during the last quarter. State Street Corp raised its position in shares of Community Trust Bancorp by 19.3% during the first quarter. State Street Corp now owns 511,024 shares of the financial services provider’s stock valued at $19,600,000 after buying an additional 82,817 shares during the last quarter. Millennium Management LLC raised its position in shares of Community Trust Bancorp by 340.7% during the fourth quarter. Millennium Management LLC now owns 60,960 shares of the financial services provider’s stock valued at $2,800,000 after buying an additional 47,128 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Community Trust Bancorp by 104.8% during the second quarter. Goldman Sachs Group Inc. now owns 80,378 shares of the financial services provider’s stock valued at $2,859,000 after buying an additional 41,136 shares during the last quarter. Institutional investors own 60.20% of the company’s stock.

Analyst Ratings Changes

CTBI has been the topic of several research reports. Piper Sandler initiated coverage on shares of Community Trust Bancorp in a research report on Friday, February 16th. They issued an “overweight” rating and a $47.00 price target on the stock. Janney Montgomery Scott initiated coverage on shares of Community Trust Bancorp in a research report on Wednesday, March 27th. They issued a “buy” rating and a $49.00 price target on the stock.

View Our Latest Analysis on Community Trust Bancorp

Insider Buying and Selling at Community Trust Bancorp

In other news, Director Franky Minnifield acquired 2,000 shares of the business’s stock in a transaction on Friday, March 15th. The shares were acquired at an average price of $39.28 per share, for a total transaction of $78,560.00. Following the completion of the transaction, the director now directly owns 14,401 shares of the company’s stock, valued at approximately $565,671.28. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Mark A. Gooch bought 856 shares of the stock in a transaction dated Wednesday, January 24th. The stock was purchased at an average cost of $41.68 per share, with a total value of $35,678.08. Following the completion of the purchase, the chief executive officer now owns 27,191 shares of the company’s stock, valued at $1,133,320.88. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Franky Minnifield bought 2,000 shares of the stock in a transaction dated Friday, March 15th. The shares were bought at an average cost of $39.28 per share, with a total value of $78,560.00. Following the completion of the purchase, the director now directly owns 14,401 shares of the company’s stock, valued at approximately $565,671.28. The disclosure for this purchase can be found here. Insiders have bought 5,117 shares of company stock worth $207,283 over the last quarter. Insiders own 4.30% of the company’s stock.

Community Trust Bancorp Trading Down 1.6 %

Shares of CTBI opened at $41.02 on Wednesday. The company’s fifty day moving average is $40.56 and its 200 day moving average is $39.79. Community Trust Bancorp, Inc. has a fifty-two week low of $32.68 and a fifty-two week high of $45.74. The stock has a market capitalization of $739.18 million, a PE ratio of 9.43 and a beta of 0.68. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.87 and a current ratio of 0.87.

Community Trust Bancorp (NASDAQ:CTBIGet Free Report) last posted its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $1.04 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.04). Community Trust Bancorp had a net margin of 23.91% and a return on equity of 11.68%. The firm had revenue of $57.00 million for the quarter, compared to the consensus estimate of $58.00 million. Sell-side analysts expect that Community Trust Bancorp, Inc. will post 4.09 earnings per share for the current fiscal year.

Community Trust Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were given a dividend of $0.46 per share. This is a boost from Community Trust Bancorp’s previous quarterly dividend of $0.40. The ex-dividend date was Thursday, March 14th. This represents a $1.84 dividend on an annualized basis and a yield of 4.49%. Community Trust Bancorp’s payout ratio is 42.30%.

Community Trust Bancorp Company Profile

(Free Report)

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.

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

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