Adage Capital Partners GP L.L.C. Makes New Investment in Community Trust Bancorp, Inc. (NASDAQ:CTBI)

Adage Capital Partners GP L.L.C. acquired a new stake in Community Trust Bancorp, Inc. (NASDAQ:CTBI - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 20,000 shares of the financial services provider's stock, valued at approximately $1,061,000. Adage Capital Partners GP L.L.C. owned 0.11% of Community Trust Bancorp as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. US Bancorp DE lifted its holdings in Community Trust Bancorp by 311.8% in the fourth quarter. US Bancorp DE now owns 560 shares of the financial services provider's stock valued at $30,000 after acquiring an additional 424 shares during the period. Federated Hermes Inc. acquired a new position in shares of Community Trust Bancorp in the 4th quarter valued at $46,000. New York State Teachers Retirement System acquired a new position in shares of Community Trust Bancorp in the 4th quarter valued at $75,000. Quantbot Technologies LP boosted its holdings in Community Trust Bancorp by 43.5% during the fourth quarter. Quantbot Technologies LP now owns 1,824 shares of the financial services provider's stock worth $97,000 after buying an additional 553 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its position in Community Trust Bancorp by 317.4% during the fourth 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 period. Hedge funds and other institutional investors own 60.20% of the company's stock.

Community Trust Bancorp Price Performance

Shares of NASDAQ CTBI opened at $49.59 on Wednesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a fifty day moving average of $50.15 and a 200 day moving average of $53.36. The firm has a market cap of $897.68 million, a PE ratio of 10.76 and a beta of 0.55. Community Trust Bancorp, Inc. has a one year low of $40.19 and a one year high of $61.67.

Community Trust Bancorp (NASDAQ:CTBI - Get Free Report) last released its earnings results on Wednesday, April 16th. The financial services provider reported $1.22 EPS for the quarter, topping analysts' consensus estimates of $1.19 by $0.03. The business had revenue of $66.16 million during the quarter, compared to analysts' expectations of $64.92 million. Community Trust Bancorp had a net margin of 22.02% and a return on equity of 11.36%. During the same quarter in the previous year, the company earned $1.04 earnings per share. As a group, research analysts predict that Community Trust Bancorp, Inc. will post 5.06 EPS for the current fiscal year.

Community Trust Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Sunday, June 15th will be given a $0.47 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.88 annualized dividend and a dividend yield of 3.79%. Community Trust Bancorp's dividend payout ratio (DPR) is presently 39.25%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CTBI. Raymond James lowered their target price on shares of Community Trust Bancorp from $60.00 to $58.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 2nd. Piper Sandler lowered their price target on Community Trust Bancorp from $60.00 to $56.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th.

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.

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