Andy D. Waters Sells 918 Shares of Community Trust Bancorp (NASDAQ:CTBI) Stock

Key Points

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Community Trust Bancorp, Inc. (NASDAQ:CTBI - Get Free Report) EVP Andy D. Waters sold 918 shares of Community Trust Bancorp stock in a transaction dated Monday, August 18th. The shares were 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 owned 632 shares of the company's stock, valued at approximately $35,505.76. This represents a 59.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Community Trust Bancorp Price Performance

Shares of NASDAQ:CTBI traded up $2.81 during midday trading on Friday, reaching $58.64. 63,405 shares of the company's stock traded hands, compared to its average volume of 50,658. Community Trust Bancorp, Inc. has a 1 year low of $44.60 and a 1 year high of $61.67. The company has a market cap of $1.06 billion, a P/E ratio of 11.54 and a beta of 0.62. 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 company has a fifty day simple moving average of $54.52 and a two-hundred day simple moving average of $52.37.

Community Trust Bancorp (NASDAQ:CTBI - Get Free Report) last announced its 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. 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 for the quarter, compared to analyst estimates of $68.00 million. Equities analysts predict that Community Trust Bancorp, Inc. will post 5.06 EPS for the current fiscal year.

Community Trust Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be given a dividend of $0.53 per share. This is a positive change from Community Trust Bancorp's previous quarterly dividend of $0.47. The ex-dividend date is Monday, September 15th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.6%. Community Trust Bancorp's payout ratio is 41.73%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC purchased a new position in Community Trust Bancorp in the 2nd quarter valued at $40,000. PNC Financial Services Group Inc. lifted its holdings 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 purchasing an additional 228 shares in the last quarter. US Bancorp DE lifted 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 in the last quarter. Strs Ohio acquired a new stake in shares of Community Trust Bancorp in the 1st quarter worth $86,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of 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 acquiring an additional 1,387 shares during the last quarter. Hedge funds and other institutional investors own 60.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CTBI shares. Raymond James Financial reiterated an "outperform" rating and set a $63.00 target price (up previously from $58.00) on shares of Community Trust Bancorp in a research report on Thursday, July 17th. 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 on the stock. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target 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.