Vanguard Group Inc. Has $46.41 Million Position in Community Trust Bancorp, Inc. $CTBI

Key Points

• Vanguard Group Inc. increased its stake in Community Trust Bancorp by 4.0%, now owning approximately 5.09% of the company, worth about $46.4 million.
• The company has declared a quarterly dividend of $0.53 per share, raising it from the previous $0.47, representing an annual yield of 3.6%.
• Community Trust Bancorp reported earnings of $1.38 per share in their last quarterly results, exceeding analysts' expectations of $1.27 per share.

Vanguard Group Inc. raised its stake in Community Trust Bancorp, Inc. (NASDAQ:CTBI - Free Report) by 4.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 921,499 shares of the financial services provider's stock after acquiring an additional 35,815 shares during the quarter. Vanguard Group Inc. owned approximately 5.09% of Community Trust Bancorp worth $46,407,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Aptus Capital Advisors LLC grew its position in shares of Community Trust Bancorp by 1.8% in the fourth quarter. Aptus Capital Advisors LLC now owns 12,456 shares of the financial services provider's stock valued at $666,000 after purchasing an additional 219 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Community Trust Bancorp by 39.8% in the first quarter. PNC Financial Services Group Inc. now owns 801 shares of the financial services provider's stock valued at $40,000 after purchasing an additional 228 shares during the period. SummerHaven Investment Management LLC grew its position 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. BTC Capital Management Inc. grew its position in shares of Community Trust Bancorp by 3.9% in the first quarter. BTC Capital Management Inc. now owns 7,552 shares of the financial services provider's stock valued at $380,000 after purchasing an additional 282 shares during the period. Finally, LPL Financial LLC grew its position in shares of Community Trust Bancorp by 6.6% in the fourth quarter. LPL Financial LLC now owns 4,964 shares of the financial services provider's stock valued at $263,000 after purchasing an additional 307 shares during the period. 60.20% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Community Trust Bancorp

In related news, Director Franky Minnifield bought 2,000 shares of the firm's stock in a transaction dated 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 completion of the transaction, the director directly owned 17,099 shares of the company's stock, valued at approximately $872,219.99. This represents a 13.25% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Andy D. Waters sold 918 shares of the company's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $56.18, for a total value of $51,573.24. Following the completion of the sale, the executive vice president directly owned 632 shares of the company's stock, valued at $35,505.76. The trade was a 59.23% decrease in their position. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by insiders.

Community Trust Bancorp Trading Down 0.3%

CTBI stock traded down $0.20 during trading on Friday, reaching $58.42. 56,439 shares of the stock traded hands, compared to its average volume of 51,260. The business's 50 day moving average price is $55.36 and its 200-day moving average price is $52.44. 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 0.08, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market capitalization of $1.06 billion, a PE ratio of 11.50 and a beta of 0.62.

Community Trust Bancorp (NASDAQ:CTBI - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.27 by $0.11. Community Trust Bancorp had a return on equity of 11.77% and a net margin of 23.33%.The firm had revenue of $70.21 million during the quarter, compared to the consensus estimate of $68.00 million. As a group, sell-side analysts forecast that Community Trust Bancorp, Inc. will post 5.06 earnings per share for the current year.

Community Trust Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 3.6%. This is a boost from Community Trust Bancorp's previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Monday, September 15th. Community Trust Bancorp's dividend payout ratio (DPR) is presently 37.01%.

Wall Street Analysts Forecast Growth

CTBI has been the subject of a number of recent analyst reports. Raymond James Financial reaffirmed an "outperform" rating and issued a $63.00 price objective (up previously from $58.00) on shares of Community Trust Bancorp in a research report on Thursday, July 17th. Piper Sandler initiated coverage on Community Trust Bancorp in a research report on Monday, August 18th. They issued an "overweight" rating and a $66.00 price objective for the company. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $64.50.

Community Trust Bancorp 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.