Community Trust Bancorp, Inc. (NASDAQ:CTBI) Shares Bought by Parallel Advisors LLC

Parallel Advisors LLC raised its stake in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBIFree Report) by 77.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 704 shares of the financial services provider’s stock after acquiring an additional 308 shares during the period. Parallel Advisors LLC’s holdings in Community Trust Bancorp were worth $31,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quest Partners LLC purchased a new stake in Community Trust Bancorp in the fourth quarter valued at approximately $151,000. Heartland Advisors Inc. acquired a new position in Community Trust Bancorp during the 4th quarter worth about $2,238,000. Dimensional Fund Advisors LP lifted its stake in Community Trust Bancorp by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,158,760 shares of the financial services provider’s stock worth $50,824,000 after acquiring an additional 9,507 shares in the last quarter. Calton & Associates Inc. purchased a new position in Community Trust Bancorp during the 4th quarter valued at about $445,000. Finally, Charles Schwab Investment Management Inc. grew its position in Community Trust Bancorp by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 120,219 shares of the financial services provider’s stock valued at $5,273,000 after acquiring an additional 2,090 shares in the last quarter. 60.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on CTBI shares. Janney Montgomery Scott assumed coverage on shares of Community Trust Bancorp in a research note on Wednesday, March 27th. They issued a “buy” rating and a $49.00 price objective for the company. Piper Sandler began coverage on shares of Community Trust Bancorp in a research note on Friday, February 16th. They issued an “overweight” rating and a $47.00 price target for the company.

Check Out Our Latest Research Report on CTBI

Insider Transactions at Community Trust Bancorp

In other Community Trust Bancorp news, Director Franky Minnifield bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were purchased at an average price of $39.28 per share, with a total value of $78,560.00. Following the completion of the acquisition, the director now directly owns 14,401 shares of the company’s stock, valued at approximately $565,671.28. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 4.30% of the company’s stock.

Community Trust Bancorp Stock Performance

Shares of CTBI opened at $41.94 on Friday. Community Trust Bancorp, Inc. has a 1 year low of $33.48 and a 1 year high of $45.74. The stock has a market capitalization of $756.18 million, a PE ratio of 9.73 and a beta of 0.66. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a 50-day simple moving average of $42.19 and a 200-day simple moving average of $41.60.

Community Trust Bancorp (NASDAQ:CTBIGet Free Report) last issued its earnings results on Wednesday, April 17th. The financial services provider reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.06. Community Trust Bancorp had a net margin of 22.64% and a return on equity of 11.36%. The firm had revenue of $59.02 million for the quarter, compared to analysts’ expectations of $56.51 million. On average, analysts predict that Community Trust Bancorp, Inc. will post 4.2 earnings per share for the current fiscal year.

Community Trust Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Saturday, June 15th will be issued a $0.46 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 4.39%. Community Trust Bancorp’s payout ratio is 42.69%.

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.

See Also

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

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