Nuveen LLC Purchases New Shares in Community Trust Bancorp, Inc. $CTBI

Nuveen LLC purchased a new stake in Community Trust Bancorp, Inc. (NASDAQ:CTBI) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 103,452 shares of the financial services provider’s stock, valued at approximately $5,210,000. Nuveen LLC owned about 0.57% of Community Trust Bancorp at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CTBI. PNC Financial Services Group Inc. raised 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 raised 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. Tower Research Capital LLC TRC raised its position in Community Trust Bancorp by 317.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,824 shares of the financial services provider’s stock valued at $97,000 after buying an additional 1,387 shares during the last quarter. Aquatic Capital Management LLC raised its position in Community Trust Bancorp by 207.1% in the 4th quarter. Aquatic Capital Management LLC now owns 2,457 shares of the financial services provider’s stock valued at $130,000 after buying an additional 1,657 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in Community Trust Bancorp by 3,898.5% in the 1st quarter. GAMMA Investing LLC now owns 2,719 shares of the financial services provider’s stock valued at $137,000 after buying an additional 2,651 shares during the last quarter. 60.20% of the stock is owned by hedge funds and other institutional investors.

Community Trust Bancorp Stock Performance

Shares of CTBI opened at $58.75 on Wednesday. The company has a market cap of $1.06 billion, a PE ratio of 11.56 and a beta of 0.62. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. The stock has a 50-day moving average price of $54.86 and a 200-day moving average price of $52.40. Community Trust Bancorp, Inc. has a 12-month low of $44.60 and a 12-month high of $61.67.

Community Trust Bancorp (NASDAQ:CTBI) last issued its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.11. The firm 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%. As a group, equities analysts forecast 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 disclosed 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 dividend 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%.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Community Trust Bancorp

In related news, Director Franky Minnifield purchased 2,000 shares of the firm’s stock in a transaction on Monday, June 2nd. The shares were acquired 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 of the company’s stock, valued at approximately $872,219.99. This trade represents a 13.25% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Andy D. Waters sold 918 shares of Community Trust Bancorp stock in a transaction that occurred on Monday, August 18th. The stock was 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 directly owned 632 shares in the company, valued at $35,505.76. This trade represents a 59.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.30% of the company’s stock.

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.