Deutsche Bank AG Lowers Holdings in Community Trust Bancorp, Inc. $CTBI

Deutsche Bank AG trimmed its position in Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 16.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,253 shares of the financial services provider’s stock after selling 2,649 shares during the period. Deutsche Bank AG owned approximately 0.07% of Community Trust Bancorp worth $667,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Community Trust Bancorp by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 921,499 shares of the financial services provider’s stock valued at $46,407,000 after buying an additional 35,815 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Community Trust Bancorp by 39.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 801 shares of the financial services provider’s stock valued at $40,000 after buying an additional 228 shares during the last quarter. US Bancorp DE grew its position in Community Trust Bancorp by 90.2% in the 1st quarter. US Bancorp DE now owns 1,065 shares of the financial services provider’s stock valued at $54,000 after buying an additional 505 shares during the last quarter. Calton & Associates Inc. grew its position in Community Trust Bancorp by 64.0% in the 1st quarter. Calton & Associates Inc. now owns 15,763 shares of the financial services provider’s stock valued at $794,000 after buying an additional 6,150 shares during the last quarter. Finally, CWM LLC grew its position in Community Trust Bancorp by 11.4% in the 1st quarter. CWM LLC now owns 3,516 shares of the financial services provider’s stock valued at $177,000 after buying an additional 361 shares during the last quarter. 60.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CTBI shares. Raymond James Financial reiterated an “outperform” rating and issued a $63.00 price objective (up from $58.00) on shares of Community Trust Bancorp in a research report on Thursday, July 17th. Piper Sandler started coverage on shares of Community Trust Bancorp in a research report on Monday, August 18th. They issued an “overweight” rating and a $66.00 price objective on the stock. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $64.50.

Community Trust Bancorp Trading Down 0.9%

NASDAQ:CTBI opened at $58.10 on Tuesday. The company has a market capitalization of $1.05 billion, a PE ratio of 11.44 and a beta of 0.62. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.08. Community Trust Bancorp, Inc. has a 52-week low of $44.60 and a 52-week high of $61.67. The stock has a fifty day simple moving average of $54.68 and a 200-day simple moving average of $52.36.

Community Trust Bancorp (NASDAQ:CTBI) last released its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.11. The business had revenue of $70.21 million during the quarter, compared to the consensus estimate of $68.00 million. Community Trust Bancorp had a return on equity of 11.77% and a net margin of 23.33%. On average, equities research analysts expect that Community Trust Bancorp, Inc. will post 5.06 earnings per share for the current fiscal year.

Community Trust Bancorp Increases Dividend

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

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.