Alps Advisors Inc. Purchases New Stake in Community Trust Bancorp, Inc. (NASDAQ:CTBI)

Alps Advisors Inc. purchased a new position in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 6,970 shares of the financial services provider's stock, valued at approximately $351,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in shares of Community Trust Bancorp during the 4th quarter worth approximately $1,860,000. Deutsche Bank AG lifted its holdings in shares of Community Trust Bancorp by 56.2% in the 4th quarter. Deutsche Bank AG now owns 15,902 shares of the financial services provider's stock worth $843,000 after purchasing an additional 5,720 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of Community Trust Bancorp in the 4th quarter worth $414,000. Community Trust & Investment Co. lifted its holdings in shares of Community Trust Bancorp by 1.6% in the 1st quarter. Community Trust & Investment Co. now owns 1,920,934 shares of the financial services provider's stock worth $96,738,000 after purchasing an additional 29,577 shares in the last quarter. Finally, Keystone Financial Group bought a new position in shares of Community Trust Bancorp in the 4th quarter worth $571,000. 60.20% of the stock is currently owned by institutional investors.

Community Trust Bancorp Price Performance

Shares of NASDAQ:CTBI traded up $0.14 during trading on Friday, hitting $56.94. 74,866 shares of the company's stock were exchanged, compared to its average volume of 56,703. Community Trust Bancorp, Inc. has a 52-week low of $44.60 and a 52-week high of $61.67. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market cap of $1.03 billion, a price-to-earnings ratio of 11.21 and a beta of 0.58. The business's 50-day simple moving average is $52.74 and its 200 day simple moving average is $51.97.

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 for the quarter, beating the consensus estimate of $1.27 by $0.11. Community Trust Bancorp had a return on equity of 11.92% and a net margin of 23.33%. The firm had revenue of $70.21 million for the quarter, compared to the consensus estimate of $68.00 million. As a group, equities analysts predict that Community Trust Bancorp, Inc. will post 5.06 EPS for the current year.

Community Trust Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Sunday, June 15th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 3.30%. The ex-dividend date was Friday, June 13th. Community Trust Bancorp's dividend payout ratio is currently 37.01%.

Insider Transactions at Community Trust Bancorp

In other Community Trust Bancorp news, Director Franky Minnifield bought 2,000 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was bought at an average cost of $51.01 per share, for a total transaction of $102,020.00. Following the completion of the transaction, the director owned 17,099 shares of the company's stock, valued at $872,219.99. This represents a 13.25% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Raymond James Financial reiterated an "outperform" rating and issued a $63.00 target price (up from $58.00) on shares of Community Trust Bancorp in a report on Thursday. Piper Sandler decreased their target price on Community Trust Bancorp from $60.00 to $56.00 and set an "overweight" rating for the company 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.