Swiss National Bank Reduces Holdings in Community Trust Bancorp, Inc. $CTBI

Swiss National Bank reduced its holdings in Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 1.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,790 shares of the financial services provider’s stock after selling 400 shares during the period. Swiss National Bank owned approximately 0.16% of Community Trust Bancorp worth $1,500,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. LPL Financial LLC lifted its position in Community Trust Bancorp by 6.6% during the fourth quarter. LPL Financial LLC now owns 4,964 shares of the financial services provider’s stock worth $263,000 after buying an additional 307 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Community Trust Bancorp by 27.8% in the 4th quarter. Wells Fargo & Company MN now owns 9,017 shares of the financial services provider’s stock worth $478,000 after acquiring an additional 1,963 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Community Trust Bancorp by 8.9% during the 4th quarter. Invesco Ltd. now owns 34,494 shares of the financial services provider’s stock worth $1,829,000 after acquiring an additional 2,805 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Community Trust Bancorp during the 4th quarter worth $1,860,000. Finally, Barclays PLC boosted its position in shares of Community Trust Bancorp by 5.7% during the 4th quarter. Barclays PLC now owns 53,248 shares of the financial services provider’s stock valued at $2,824,000 after acquiring an additional 2,872 shares during the last quarter. 60.20% of the stock is currently owned by institutional investors and hedge funds.

Community Trust Bancorp Stock Performance

NASDAQ CTBI opened at $58.64 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market cap of $1.06 billion, a P/E ratio of 11.54 and a beta of 0.62. The stock has a 50-day moving average of $54.52 and a two-hundred day moving average of $52.34. Community Trust Bancorp, Inc. has a 1-year low of $44.60 and a 1-year high of $61.67.

Community Trust Bancorp (NASDAQ:CTBI) last released its earnings results on Wednesday, July 16th. The financial services provider reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.11. The firm had revenue of $70.21 million for the quarter, compared to analyst estimates of $68.00 million. Community Trust Bancorp had a net margin of 23.33% and a return on equity of 11.77%. As a group, analysts anticipate that Community Trust Bancorp, Inc. will post 5.06 EPS for the current year.

Community Trust Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be issued a dividend of $0.53 per share. This is an increase from Community Trust Bancorp’s previous quarterly dividend of $0.47. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Monday, September 15th. Community Trust Bancorp’s dividend payout ratio is 37.01%.

Insider Activity

In other news, Director Franky Minnifield acquired 2,000 shares of the business’s stock in a transaction on Monday, June 2nd. The stock was bought at an average price of $51.01 per share, for a total transaction of $102,020.00. Following the transaction, the director 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 document filed with the SEC, which is accessible through the SEC website. Also, EVP Andy D. Waters sold 918 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $56.18, for a total transaction of $51,573.24. Following the transaction, the executive vice president directly owned 632 shares of the company’s stock, valued at $35,505.76. This represents a 59.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Piper Sandler assumed coverage on shares of Community Trust Bancorp in a report on Monday, August 18th. They set an “overweight” rating and a $66.00 price target for the company. Raymond James Financial reissued an “outperform” rating and set a $63.00 target price (up previously from $58.00) on shares of Community Trust Bancorp in a research note on Thursday, July 17th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Community Trust Bancorp currently has an average rating of “Buy” and a consensus target price of $64.50.

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.