Virtus Investment Advisers Inc. Buys Shares of 9,880 Community Trust Bancorp, Inc. (NASDAQ:CTBI)

Virtus Investment Advisers Inc. bought a new stake in Community Trust Bancorp, Inc. (NASDAQ:CTBI - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 9,880 shares of the financial services provider's stock, valued at approximately $524,000. Virtus Investment Advisers Inc. owned about 0.05% of Community Trust Bancorp as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in shares of Community Trust Bancorp in the fourth quarter valued at about $1,860,000. Barclays PLC raised its holdings in shares of Community Trust Bancorp by 45.8% in the third quarter. Barclays PLC now owns 50,376 shares of the financial services provider's stock valued at $2,502,000 after buying an additional 15,832 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of Community Trust Bancorp in the fourth quarter valued at about $414,000. Keystone Financial Group purchased a new stake in shares of Community Trust Bancorp in the fourth quarter valued at about $571,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Community Trust Bancorp in the fourth quarter valued at about $473,000. 60.20% of the stock is owned by hedge funds and other institutional investors.

Community Trust Bancorp Stock Performance

Shares of Community Trust Bancorp stock traded down $0.35 on Friday, reaching $50.82. 55,470 shares of the stock were exchanged, compared to its average volume of 56,401. Community Trust Bancorp, Inc. has a 1-year low of $40.19 and a 1-year 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 business has a fifty day moving average price of $49.72 and a two-hundred day moving average price of $53.29. The firm has a market capitalization of $920.40 million, a PE ratio of 11.02 and a beta of 0.56.

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

Community Trust Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Sunday, June 15th will be issued a $0.47 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.88 dividend on an annualized basis and a yield of 3.70%. Community Trust Bancorp's dividend payout ratio (DPR) is presently 39.25%.

Wall Street Analysts Forecast Growth

CTBI has been the topic of a number of recent analyst reports. Raymond James dropped their price target 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 dropped 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 note on Thursday, April 17th.

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.