Community Trust Bancorp, Inc. $CTBI Shares Acquired by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase increased its stake in Community Trust Bancorp by 24.9% in Q3 to 92,224 shares (about 0.51% of the company), valued at roughly $5.16 million.
• Other institutions also added to positions—American Century raised its stake 10.1% to 452,995 shares—and institutional investors now own about 60.20% of CTBI.
• Community Trust beat Q-quarter EPS estimates ($1.51 vs. $1.43), pays a quarterly dividend of $0.53 (annualized $2.12, a 3.4% yield), and trades near $61.58 with a PE of 11.34 and a $1.12 billion market cap.

JPMorgan Chase & Co. boosted its position in Community Trust Bancorp, Inc. (NASDAQ:CTBI - Free Report) by 24.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 92,224 shares of the financial services provider's stock after purchasing an additional 18,387 shares during the period. JPMorgan Chase & Co. owned about 0.51% of Community Trust Bancorp worth $5,160,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. American Century Companies Inc. increased its position in Community Trust Bancorp by 10.1% during the 3rd quarter. American Century Companies Inc. now owns 452,995 shares of the financial services provider's stock worth $25,345,000 after purchasing an additional 41,551 shares during the period. Clifford Capital Partners LLC lifted its holdings in shares of Community Trust Bancorp by 0.3% in the 3rd quarter. Clifford Capital Partners LLC now owns 283,410 shares of the financial services provider's stock valued at $15,857,000 after buying an additional 822 shares during the period. LSV Asset Management boosted its stake in shares of Community Trust Bancorp by 2.2% in the third quarter. LSV Asset Management now owns 244,080 shares of the financial services provider's stock valued at $13,656,000 after buying an additional 5,153 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Community Trust Bancorp by 0.5% in the second quarter. AQR Capital Management LLC now owns 140,460 shares of the financial services provider's stock valued at $7,433,000 after buying an additional 648 shares in the last quarter. Finally, Bridgeway Capital Management LLC grew its holdings in Community Trust Bancorp by 4.1% during the third quarter. Bridgeway Capital Management LLC now owns 129,803 shares of the financial services provider's stock worth $7,262,000 after acquiring an additional 5,167 shares during the period. Hedge funds and other institutional investors own 60.20% of the company's stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a "buy (b)" rating on shares of Community Trust Bancorp in a research report on Friday, March 27th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Community Trust Bancorp presently has a consensus rating of "Buy" and an average target price of $63.50.

Community Trust Bancorp Trading Up 1.4%

Shares of Community Trust Bancorp stock opened at $61.58 on Thursday. The company has a 50-day moving average of $61.40 and a two-hundred day moving average of $57.86. Community Trust Bancorp, Inc. has a 12-month low of $44.60 and a 12-month high of $65.79. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.08. The stock has a market cap of $1.12 billion, a PE ratio of 11.34 and a beta of 0.53.

Community Trust Bancorp (NASDAQ:CTBI - Get Free Report) last announced its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $1.51 EPS for the quarter, topping the consensus estimate of $1.43 by $0.08. The business had revenue of $74.72 million for the quarter, compared to analyst estimates of $73.15 million. Community Trust Bancorp had a return on equity of 11.96% and a net margin of 23.95%. On average, research analysts anticipate that Community Trust Bancorp, Inc. will post 5.06 EPS for the current fiscal year.

Community Trust Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Sunday, March 15th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Friday, March 13th. Community Trust Bancorp's payout ratio is presently 39.04%.

Community Trust Bancorp 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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