Community Trust Bancorp (NASDAQ:CTBI) EVP Sells 918 Shares

Key Points

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Community Trust Bancorp, Inc. (NASDAQ:CTBI - Get Free Report) EVP Andy D. Waters sold 918 shares of the 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 sale, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Community Trust Bancorp Stock Up 5.0%

Shares of NASDAQ CTBI traded up $2.81 during mid-day trading on Friday, reaching $58.64. The company had a trading volume of 63,405 shares, compared to its average volume of 50,658. Community Trust Bancorp, Inc. has a twelve month low of $44.60 and a twelve month 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 stock has a market capitalization of $1.06 billion, a PE ratio of 11.54 and a beta of 0.62. The stock's 50 day moving average is $54.52 and its 200-day moving average is $52.40.

Community Trust Bancorp (NASDAQ:CTBI - Get Free Report) last released its quarterly earnings data 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. Community Trust Bancorp had a return on equity of 11.77% and a net margin of 23.33%.The firm had revenue of $70.21 million during the quarter, compared to analysts' expectations of $68.00 million. As a group, 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 firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Monday, September 15th. This is a boost from Community Trust Bancorp's previous quarterly dividend of $0.47. This represents a $2.12 annualized dividend and a yield of 3.6%. Community Trust Bancorp's payout ratio is 37.01%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CTBI. PNC Financial Services Group Inc. boosted its position 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 valued at $40,000 after acquiring an additional 228 shares during the period. Farther Finance Advisors LLC acquired a new position in Community Trust Bancorp during the 2nd quarter valued at $40,000. US Bancorp DE boosted its holdings 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 purchasing an additional 505 shares during the period. Strs Ohio bought a new stake in Community Trust Bancorp in the 1st quarter valued at $86,000. Finally, Tower Research Capital LLC TRC grew 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 worth $97,000 after purchasing an additional 1,387 shares during the last quarter. 60.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CTBI has been the subject of several recent research reports. Raymond James Financial reissued an "outperform" rating and issued a $63.00 target price (up from $58.00) on shares of Community Trust Bancorp in a research report on Thursday, July 17th. Piper Sandler began coverage on shares of Community Trust Bancorp in a research note on Monday. They issued an "overweight" rating and a $66.00 price objective for the company. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $64.50.

Community Trust Bancorp Company 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.