Cambridge Investment Research Advisors Inc. Trims Position in Community Trust Bancorp, Inc. (NASDAQ:CTBI)

Cambridge Investment Research Advisors Inc. trimmed its position in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 10.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,742 shares of the financial services provider’s stock after selling 700 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Community Trust Bancorp were worth $289,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in CTBI. Community Trust & Investment Co. boosted its position in shares of Community Trust Bancorp by 1.6% during the 1st quarter. Community Trust & Investment Co. now owns 1,920,934 shares of the financial services provider’s stock valued at $96,738,000 after acquiring an additional 29,577 shares during the last quarter. Asio Capital LLC acquired a new position in shares of Community Trust Bancorp during the first quarter worth about $252,000. SummerHaven Investment Management LLC boosted its holdings in Community Trust Bancorp by 1.5% in the first quarter. SummerHaven Investment Management LLC now owns 18,278 shares of the financial services provider’s stock valued at $920,000 after purchasing an additional 268 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Community Trust Bancorp by 41.6% in the first quarter. SG Americas Securities LLC now owns 7,746 shares of the financial services provider’s stock valued at $390,000 after purchasing an additional 2,277 shares in the last quarter. Finally, Wedge Capital Management L L P NC boosted its holdings in Community Trust Bancorp by 20.2% in the first quarter. Wedge Capital Management L L P NC now owns 15,275 shares of the financial services provider’s stock valued at $769,000 after purchasing an additional 2,563 shares in the last quarter. Institutional investors and hedge funds own 60.20% of the company’s stock.

Community Trust Bancorp Stock Down 1.7%

Shares of NASDAQ:CTBI opened at $54.59 on Friday. The firm has a market cap of $988.62 million, a price-to-earnings ratio of 11.40 and a beta of 0.58. Community Trust Bancorp, Inc. has a 12-month low of $44.60 and a 12-month high of $61.67. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.09. The stock’s 50-day moving average price is $52.22 and its two-hundred day moving average price is $51.89.

Community Trust Bancorp (NASDAQ:CTBI) last released its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.22 EPS for the quarter, topping the consensus estimate of $1.19 by $0.03. Community Trust Bancorp had a return on equity of 11.40% and a net margin of 22.49%. The firm had revenue of $66.16 million for the quarter, compared to analyst estimates of $64.92 million. During the same period in the previous year, the company posted $1.04 EPS. On average, research analysts forecast that Community Trust Bancorp, Inc. will post 5.06 EPS for the current year.

Community Trust Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Sunday, June 15th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 3.44%. The ex-dividend date was Friday, June 13th. Community Trust Bancorp’s dividend payout ratio is currently 39.25%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Piper Sandler decreased their price target on Community Trust Bancorp from $60.00 to $56.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Raymond James Financial dropped their price target on Community Trust Bancorp from $60.00 to $58.00 and set an “outperform” rating for the company in a research report on Wednesday, April 2nd.

Insider Buying and Selling

In related news, Director Franky Minnifield acquired 2,000 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was purchased at an average cost of $51.01 per share, for a total transaction of $102,020.00. Following the purchase, the director directly owned 17,099 shares in the company, valued at $872,219.99. This represents a 13.25% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 4.30% of the stock is currently owned by insiders.

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.