Asio Capital LLC Takes $252,000 Position in Community Trust Bancorp, Inc. (NASDAQ:CTBI)

Asio Capital LLC bought a new position in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 4,963 shares of the financial services provider's stock, valued at approximately $252,000.

A number of other institutional investors and hedge funds have also made changes to their positions in CTBI. SummerHaven Investment Management LLC lifted its stake in shares of Community Trust Bancorp by 1.5% in the first quarter. SummerHaven Investment Management LLC now owns 18,278 shares of the financial services provider's stock valued at $920,000 after purchasing an additional 268 shares during the period. SG Americas Securities LLC increased its holdings in Community Trust Bancorp by 41.6% in the first quarter. SG Americas Securities LLC now owns 7,746 shares of the financial services provider's stock valued at $390,000 after buying an additional 2,277 shares in the last quarter. Wedge Capital Management L L P NC increased its holdings in Community Trust Bancorp by 20.2% in the first quarter. Wedge Capital Management L L P NC now owns 15,275 shares of the financial services provider's stock valued at $769,000 after buying an additional 2,563 shares in the last quarter. BTC Capital Management Inc. lifted its position in shares of Community Trust Bancorp by 3.9% during the 1st quarter. BTC Capital Management Inc. now owns 7,552 shares of the financial services provider's stock valued at $380,000 after acquiring an additional 282 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of Community Trust Bancorp by 3,898.5% during the 1st quarter. GAMMA Investing LLC now owns 2,719 shares of the financial services provider's stock worth $137,000 after acquiring an additional 2,651 shares in the last quarter. 60.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CTBI shares. Piper Sandler dropped their price objective on Community Trust Bancorp from $60.00 to $56.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Raymond James Financial lowered their target price on Community Trust Bancorp from $60.00 to $58.00 and set an "outperform" rating on the stock in a report on Wednesday, April 2nd.

Insider Buying and Selling at Community Trust Bancorp

In other Community Trust Bancorp news, Director Franky Minnifield purchased 2,000 shares of the firm's stock in a transaction on Monday, June 2nd. The shares were purchased at an average cost of $51.01 per share, with a total value of $102,020.00. Following the purchase, the director now owns 17,099 shares in the company, valued at approximately $872,219.99. This represents a 13.25% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.30% of the stock is owned by insiders.

Community Trust Bancorp Price Performance

CTBI traded up $0.43 during midday trading on Wednesday, reaching $50.22. 51,787 shares of the company's stock were exchanged, compared to its average volume of 57,111. Community Trust Bancorp, Inc. has a 1-year low of $40.72 and a 1-year high of $61.67. The stock has a market capitalization of $909.48 million, a PE ratio of 10.48 and a beta of 0.58. 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 business's 50-day moving average price is $50.24 and its 200 day moving average price is $52.33.

Community Trust Bancorp (NASDAQ:CTBI - Get Free Report) last posted its earnings results on Wednesday, April 16th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.19 by $0.03. The firm had revenue of $66.16 million for the quarter, compared to analyst estimates of $64.92 million. Community Trust Bancorp had a return on equity of 11.40% and a net margin of 22.49%. During the same quarter in the prior year, the company earned $1.04 EPS. As a group, equities analysts anticipate that Community Trust Bancorp, Inc. will post 5.06 EPS for the current fiscal year.

Community Trust Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Sunday, June 15th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.74%. The ex-dividend date of this dividend is Friday, June 13th. Community Trust Bancorp's payout ratio is 39.25%.

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.