Community Trust Bancorp (NASDAQ:CTBI) Director Franky Minnifield Sells 3,900 Shares of Stock

Key Points

• Director Franky Minnifield sold 3,900 CTBI shares at an average price of $78.85, generating $307,515 and reducing his direct holdings by 31.91% to 8,320 shares.
• Community Trust Bancorp reported quarterly EPS of $1.64, beating estimates of $1.52, while shares traded near $78.48 and remained close to their 52-week high.
• The company increased its quarterly dividend to $0.65 per share, equal to $2.60 annually and a 3.3% yield; analysts maintain a “Moderate Buy” consensus with an $81.50 target price.

Community Trust Bancorp, Inc. (NASDAQ:CTBI - Get Free Report) Director Franky Minnifield sold 3,900 shares of the company's stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $78.85, for a total value of $307,515.00. Following the transaction, the director directly owned 8,320 shares of the company's stock, valued at approximately $656,032. This trade represents a 31.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Community Trust Bancorp Stock Down 0.5%

Shares of NASDAQ CTBI traded down $0.39 during midday trading on Monday, reaching $78.48. The company's stock had a trading volume of 17,424 shares, compared to its average volume of 97,387. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.08. Community Trust Bancorp, Inc. has a fifty-two week low of $50.25 and a fifty-two week high of $79.92. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of 13.15 and a beta of 0.53. The stock has a 50 day simple moving average of $73.81 and a 200-day simple moving average of $67.04.

Community Trust Bancorp (NASDAQ:CTBI - Get Free Report) last announced its earnings results on Wednesday, July 15th. The financial services provider reported $1.64 EPS for the quarter, topping the consensus estimate of $1.52 by $0.12. The business had revenue of $78.49 million during the quarter, compared to analysts' expectations of $76.85 million. Community Trust Bancorp had a net margin of 25.55% and a return on equity of 12.52%. Equities research analysts predict that Community Trust Bancorp, Inc. will post 6.41 earnings per share for the current year.

Community Trust Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.65 per share. The ex-dividend date is Tuesday, September 15th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.3%. This is a positive change from Community Trust Bancorp's previous quarterly dividend of $0.53. Community Trust Bancorp's dividend payout ratio (DPR) is currently 35.51%.

Institutional Trading of Community Trust Bancorp

A number of large investors have recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Community Trust Bancorp during the 4th quarter worth approximately $1,892,000. Fifth Third Bancorp acquired a new stake in Community Trust Bancorp during the 1st quarter valued at $844,000. Lazard Asset Management LLC bought a new position in Community Trust Bancorp during the first quarter worth $1,555,000. Y Intercept Hong Kong Ltd bought a new position in Community Trust Bancorp during the first quarter worth $994,000. Finally, Janus Henderson Group PLC boosted its position in Community Trust Bancorp by 114.0% during the first quarter. Janus Henderson Group PLC now owns 192,413 shares of the financial services provider's stock worth $11,684,000 after purchasing an additional 102,488 shares during the period. Institutional investors and hedge funds own 60.20% of the company's stock.

Wall Street Analyst Weigh In

CTBI has been the topic of a number of recent research reports. Weiss Ratings raised Community Trust Bancorp from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Thursday. Raymond James Financial reissued an "outperform" rating and set a $82.00 price target on shares of Community Trust Bancorp in a research report on Thursday, July 16th. Zacks Research downgraded Community Trust Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 16th. Finally, Piper Sandler boosted their price target on Community Trust Bancorp from $76.00 to $81.00 and gave the stock a "neutral" rating in a research report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Community Trust Bancorp presently has a consensus rating of "Moderate Buy" and a consensus target price of $81.50.

Community Trust Bancorp Company Profile

Community Trust Bancorp, Inc is a bank holding company headquartered in Pikeville, Kentucky. As the parent of Community Trust Bank, the company provides a comprehensive range of banking services to individuals, families and businesses throughout eastern Kentucky, southern West Virginia and northeast Tennessee. With origins dating back to the early 20th century, the organization has built a reputation for supporting community development and regional economic growth across the Appalachian region.

The company's personal banking offerings include checking and savings accounts, consumer installment loans, home equity and mortgage lending, as well as online and mobile banking platforms.

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