Community Trust Bancorp, Inc. (NASDAQ:CTBI) Stock Position Decreased by Bridgeway Capital Management LLC

Bridgeway Capital Management LLC cut its holdings in Community Trust Bancorp, Inc. (NASDAQ:CTBI - Free Report) by 4.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 119,443 shares of the financial services provider's stock after selling 4,997 shares during the period. Bridgeway Capital Management LLC owned 0.66% of Community Trust Bancorp worth $6,334,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CTBI. Hillsdale Investment Management Inc. purchased a new position in shares of Community Trust Bancorp in the 4th quarter valued at about $3,732,000. American Century Companies Inc. raised its position in shares of Community Trust Bancorp by 11.4% during the 4th quarter. American Century Companies Inc. now owns 350,755 shares of the financial services provider's stock worth $18,601,000 after purchasing an additional 35,777 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Community Trust Bancorp during the 4th quarter worth approximately $1,860,000. JPMorgan Chase & Co. lifted its position in shares of Community Trust Bancorp by 34.9% in the third quarter. JPMorgan Chase & Co. now owns 95,233 shares of the financial services provider's stock valued at $4,729,000 after acquiring an additional 24,622 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Community Trust Bancorp by 1.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,208,065 shares of the financial services provider's stock worth $64,064,000 after acquiring an additional 21,008 shares during the last quarter. Hedge funds and other institutional investors own 60.20% of the company's stock.

Community Trust Bancorp Price Performance

Shares of NASDAQ:CTBI traded up $1.49 during midday trading on Monday, hitting $52.50. 10,191 shares of the stock were exchanged, compared to its average volume of 55,867. Community Trust Bancorp, Inc. has a twelve month low of $40.19 and a twelve month high of $61.67. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.09. The company has a 50 day moving average price of $49.56 and a 200-day moving average price of $53.30. The stock has a market cap of $950.26 million, a P/E ratio of 11.39 and a beta of 0.56.

Community Trust Bancorp (NASDAQ:CTBI - Get Free Report) last issued its earnings results on Wednesday, April 16th. The financial services provider reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.03. Community Trust Bancorp had a return on equity of 11.36% and a net margin of 22.02%. The business had revenue of $66.16 million for the quarter, compared to analyst estimates of $64.92 million. During the same period last year, the company posted $1.04 EPS. On average, research analysts forecast that Community Trust Bancorp, Inc. will post 5.06 earnings per share for the current year.

Community Trust Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Sunday, June 15th will be paid a dividend of $0.47 per share. The ex-dividend date is Friday, June 13th. This represents a $1.88 dividend on an annualized basis and a yield of 3.58%. Community Trust Bancorp's dividend payout ratio (DPR) is 39.25%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CTBI. Raymond James reduced their price objective on Community Trust Bancorp from $60.00 to $58.00 and set an "outperform" rating for the company in a research note on Wednesday, April 2nd. Piper Sandler lowered their price target on shares of 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.