Federated Hermes Inc. Invests $46,000 in Community Trust Bancorp, Inc. (NASDAQ:CTBI)

Federated Hermes Inc. acquired a new position in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 868 shares of the financial services provider’s stock, valued at approximately $46,000.

A number of other hedge funds have also made changes to their positions in the company. Barclays PLC raised its stake in Community Trust Bancorp by 45.8% in the 3rd quarter. Barclays PLC now owns 50,376 shares of the financial services provider’s stock valued at $2,502,000 after purchasing an additional 15,832 shares during the last quarter. Intech Investment Management LLC acquired a new position in Community Trust Bancorp during the fourth quarter worth about $414,000. JPMorgan Chase & Co. grew its stake in Community Trust Bancorp by 34.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 95,233 shares of the financial services provider’s stock valued at $4,729,000 after acquiring an additional 24,622 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Community Trust Bancorp in the 4th quarter valued at about $473,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Community Trust Bancorp during the 4th quarter worth approximately $319,000. Institutional investors and hedge funds own 60.20% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on CTBI. Raymond James reduced their price objective on Community Trust Bancorp from $60.00 to $58.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 2nd. Piper Sandler reduced their price target on Community Trust Bancorp from $60.00 to $56.00 and set an “overweight” rating on the stock in a report on Thursday.

Community Trust Bancorp Stock Down 0.8 %

Shares of NASDAQ CTBI opened at $47.19 on Friday. The company has a market capitalization of $854.23 million, a P/E ratio of 10.24 and a beta of 0.55. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.90 and a quick ratio of 0.90. The company has a 50 day simple moving average of $51.07 and a 200-day simple moving average of $53.34. Community Trust Bancorp, Inc. has a 1 year low of $40.19 and a 1 year high of $61.67.

Community Trust Bancorp (NASDAQ:CTBI) last posted its earnings results on Wednesday, April 16th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.03. The company had revenue of $66.16 million during the quarter, compared to analysts’ expectations of $64.92 million. Community Trust Bancorp had a return on equity of 11.36% and a net margin of 22.02%. During the same quarter last year, the firm earned $1.04 earnings per share. On average, equities research analysts predict that Community Trust Bancorp, Inc. will post 5.06 earnings per share for the current year.

Community Trust Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Saturday, March 15th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.98%. The ex-dividend date of this dividend was Friday, March 14th. Community Trust Bancorp’s dividend payout ratio (DPR) is presently 40.78%.

Community Trust Bancorp Company 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.