Farther Finance Advisors LLC Makes New Investment in Community Trust Bancorp, Inc. $CTBI

Farther Finance Advisors LLC purchased a new stake in Community Trust Bancorp, Inc. (NASDAQ:CTBI) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 758 shares of the financial services provider’s stock, valued at approximately $40,000.

Other hedge funds also recently modified their holdings of the company. PNC Financial Services Group Inc. grew its stake in shares of Community Trust Bancorp by 39.8% in 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 last quarter. US Bancorp DE lifted its holdings in Community Trust Bancorp by 90.2% during the 1st quarter. US Bancorp DE now owns 1,065 shares of the financial services provider’s stock worth $54,000 after buying an additional 505 shares during the period. Strs Ohio bought a new stake in shares of Community Trust Bancorp in the 1st quarter valued at about $86,000. GAMMA Investing LLC increased its stake in shares of Community Trust Bancorp by 3,898.5% in the first 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 period. Finally, CWM LLC increased its stake in shares of Community Trust Bancorp by 11.4% in the first 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 period. Institutional investors and hedge funds own 60.20% of the company’s stock.

Insider Activity at Community Trust Bancorp

In related news, EVP Andy D. Waters sold 918 shares of the firm’s stock in a transaction dated Monday, August 18th. The shares were 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 trade represents a 59.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.30% of the stock is currently owned by corporate insiders.

Community Trust Bancorp Stock Performance

Shares of Community Trust Bancorp stock opened at $56.45 on Tuesday. Community Trust Bancorp, Inc. has a 52 week low of $44.60 and a 52 week high of $61.67. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.08. The business has a 50 day moving average price of $56.27 and a 200-day moving average price of $53.13. The company has a market cap of $1.02 billion, a PE ratio of 11.11 and a beta of 0.57.

Community Trust Bancorp (NASDAQ:CTBI) last announced its earnings results on Wednesday, July 16th. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.11. The company had revenue of $70.21 million for the quarter, compared to analysts’ expectations of $68.00 million. Community Trust Bancorp had a return on equity of 11.77% and a net margin of 23.33%. 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 company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Monday, September 15th. This is a positive change from Community Trust Bancorp’s previous quarterly dividend of $0.47. Community Trust Bancorp’s dividend payout ratio (DPR) is currently 41.73%.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Community Trust Bancorp in a report on Saturday, September 27th. Piper Sandler assumed 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 target on the stock. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $63.00 price objective (up from $58.00) on shares of Community Trust Bancorp in a research note on Thursday, July 17th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Community Trust Bancorp presently has a consensus rating of “Buy” and an average target price 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.