Rhumbline Advisers Sells 1,097 Shares of Community Trust Bancorp, Inc. $CTBI

Rhumbline Advisers lessened its holdings in Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 4.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 23,622 shares of the financial services provider’s stock after selling 1,097 shares during the period. Rhumbline Advisers owned about 0.13% of Community Trust Bancorp worth $1,190,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Strs Ohio purchased a new stake in Community Trust Bancorp during the first quarter worth $86,000. Ellsworth Advisors LLC bought a new position in shares of Community Trust Bancorp in the 1st quarter worth $513,000. Jane Street Group LLC lifted its stake in shares of Community Trust Bancorp by 158.5% during the 1st quarter. Jane Street Group LLC now owns 28,493 shares of the financial services provider’s stock worth $1,435,000 after purchasing an additional 17,470 shares during the last quarter. Empowered Funds LLC boosted its position in Community Trust Bancorp by 5.5% during the first quarter. Empowered Funds LLC now owns 62,716 shares of the financial services provider’s stock valued at $3,158,000 after purchasing an additional 3,273 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd grew its stake in Community Trust Bancorp by 46.6% in the first quarter. Dynamic Technology Lab Private Ltd now owns 13,089 shares of the financial services provider’s stock valued at $659,000 after purchasing an additional 4,159 shares during the last quarter. 60.20% of the stock is owned by hedge funds and other institutional investors.

Community Trust Bancorp Stock Down 1.9%

CTBI stock opened at $56.50 on Friday. Community Trust Bancorp, Inc. has a one year low of $44.60 and a one year high of $61.67. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 0.93. The firm’s fifty day moving average is $56.32 and its 200 day moving average is $52.77. The firm has a market cap of $1.02 billion, a PE ratio of 11.12 and a beta of 0.62.

Community Trust Bancorp (NASDAQ:CTBI) last posted its 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. Community Trust Bancorp had a net margin of 23.33% and a return on equity of 11.77%. The business had revenue of $70.21 million for the quarter, compared to analyst estimates of $68.00 million. On average, research analysts forecast that Community Trust Bancorp, Inc. will post 5.06 EPS for the current year.

Community Trust Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Monday, September 15th. This is an increase from Community Trust Bancorp’s previous quarterly dividend of $0.47. This represents a $2.12 annualized dividend and a yield of 3.8%. Community Trust Bancorp’s dividend payout ratio is 41.73%.

Wall Street Analyst Weigh In

Several analysts have commented on CTBI shares. Raymond James Financial reissued an “outperform” rating and set a $63.00 price target (up from $58.00) on shares of Community Trust Bancorp in a research report on Thursday, July 17th. Piper Sandler assumed coverage on shares of 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. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $64.50.

Insider Activity at Community Trust Bancorp

In other news, EVP Andy D. Waters sold 918 shares of the company’s stock in a transaction that occurred 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 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 position. The sale was disclosed in a filing with the SEC, which is available through this link. 4.30% of the stock is owned by company 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.