Community Trust Bancorp, Inc. $CTBI Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. boosted its stake in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 4.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 921,499 shares of the financial services provider’s stock after purchasing an additional 35,815 shares during the quarter. Vanguard Group Inc. owned approximately 5.09% of Community Trust Bancorp worth $46,407,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CTBI. Aptus Capital Advisors LLC raised its stake in Community Trust Bancorp by 1.8% during the 4th quarter. Aptus Capital Advisors LLC now owns 12,456 shares of the financial services provider’s stock valued at $666,000 after acquiring an additional 219 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Community Trust Bancorp by 39.8% during the first quarter. PNC Financial Services Group Inc. now owns 801 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 228 shares during the period. SummerHaven Investment Management LLC raised its position in shares of Community Trust Bancorp by 1.5% during the first quarter. SummerHaven Investment Management LLC now owns 18,278 shares of the financial services provider’s stock worth $920,000 after purchasing an additional 268 shares during the period. BTC Capital Management Inc. raised its position in shares of Community Trust Bancorp by 3.9% during the first quarter. BTC Capital Management Inc. now owns 7,552 shares of the financial services provider’s stock worth $380,000 after purchasing an additional 282 shares during the period. Finally, LPL Financial LLC grew its holdings in shares of 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 valued at $263,000 after buying an additional 307 shares in the last quarter. Institutional investors and hedge funds own 60.20% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Andy D. Waters sold 918 shares of the firm’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $56.18, for a total transaction of $51,573.24. Following the completion of the sale, the executive vice president directly owned 632 shares of the company’s stock, valued at $35,505.76. This trade represents a 59.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Franky Minnifield acquired 2,000 shares of the firm’s stock in a transaction on Monday, June 2nd. The stock was purchased at an average price of $51.01 per share, for a total transaction of $102,020.00. Following the completion of the transaction, the director directly owned 17,099 shares in the company, valued at approximately $872,219.99. The trade was a 13.25% increase in their position. The disclosure for this purchase can be found here. Company insiders own 2.30% of the company’s stock.

Community Trust Bancorp Trading Down 0.9%

CTBI stock opened at $58.10 on Tuesday. Community Trust Bancorp, Inc. has a 1-year low of $44.60 and a 1-year high of $61.67. The firm has a market cap of $1.05 billion, a P/E ratio of 11.44 and a beta of 0.62. The business’s 50 day moving average is $54.68 and its 200-day moving average is $52.36. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08.

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

Community Trust Bancorp Increases Dividend

The firm 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. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.12 dividend on an annualized basis and a yield of 3.6%. This is a positive change from Community Trust Bancorp’s previous quarterly dividend of $0.47. Community Trust Bancorp’s payout ratio is 37.01%.

Analyst Ratings Changes

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

About Community Trust Bancorp

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.