Calton & Associates Inc. Boosts Holdings in Community Trust Bancorp, Inc. (NASDAQ:CTBI)

Calton & Associates Inc. boosted its position in Community Trust Bancorp, Inc. (NASDAQ:CTBI - Free Report) by 64.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,763 shares of the financial services provider's stock after purchasing an additional 6,150 shares during the period. Calton & Associates Inc. owned about 0.09% of Community Trust Bancorp worth $794,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its stake in Community Trust Bancorp by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 126,276 shares of the financial services provider's stock valued at $6,696,000 after acquiring an additional 904 shares during the last quarter. Raymond James Financial Inc. bought a new position in Community Trust Bancorp in the fourth quarter valued at $1,860,000. Intech Investment Management LLC bought a new position in Community Trust Bancorp in the fourth quarter valued at $414,000. Teacher Retirement System of Texas increased its stake in Community Trust Bancorp by 35.2% in the fourth quarter. Teacher Retirement System of Texas now owns 29,589 shares of the financial services provider's stock valued at $1,569,000 after acquiring an additional 7,698 shares during the last quarter. Finally, Semanteon Capital Management LP bought a new position in Community Trust Bancorp in the fourth quarter valued at $268,000. Hedge funds and other institutional investors own 60.20% of the company's stock.

Community Trust Bancorp Stock Down 0.5%

Shares of CTBI stock traded down $0.28 during trading hours on Wednesday, hitting $56.47. 11,852 shares of the company's stock traded hands, compared to its average volume of 56,420. The stock's fifty day simple moving average is $52.92 and its two-hundred day simple moving average is $52.03. Community Trust Bancorp, Inc. has a 12-month low of $44.60 and a 12-month high of $61.67. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 11.12 and a beta of 0.58. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.09.

Community Trust Bancorp (NASDAQ:CTBI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $1.38 earnings per share for the quarter, topping analysts' consensus estimates of $1.27 by $0.11. Community Trust Bancorp had a net margin of 23.33% and a return on equity of 11.92%. The company had revenue of $70.21 million during the quarter, compared to analyst estimates of $68.00 million. On average, analysts expect that Community Trust Bancorp, Inc. will post 5.06 EPS for the current year.

Community Trust Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be given a dividend of $0.53 per share. This is an increase from Community Trust Bancorp's previous quarterly dividend of $0.47. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.75%. Community Trust Bancorp's payout ratio is presently 37.01%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CTBI. Raymond James Financial reaffirmed an "outperform" rating and set a $63.00 price objective (up from $58.00) on shares of Community Trust Bancorp in a research note on Thursday, July 17th. Piper Sandler cut their target price on 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.

Insider Activity

In other news, Director Franky Minnifield bought 2,000 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The stock was bought at an average price of $51.01 per share, with a total value of $102,020.00. Following the acquisition, the director owned 17,099 shares of the company's stock, valued at approximately $872,219.99. This represents a 13.25% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.30% of the stock is currently owned by insiders.

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.