Community Trust Bancorp, Inc. $CTBI Shares Bought by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its stake in Community Trust Bancorp (NASDAQ:CTBI) by 10.1% in Q3 to 452,995 shares (about 2.50% ownership), valuing its position at roughly $25.35 million, while overall institutional ownership sits near 60.20%.
• Quarterly results beat expectations: CTBI reported $1.51 EPS vs. $1.43 expected and $74.72 million in revenue, with a net margin of 23.95% and ROE of 11.96%; analysts project about 5.06 EPS for the year.
• The board declared a quarterly dividend of $0.53 per share (annualized $2.12) implying a ~3.5% yield, with an ex-dividend date of March 13 and a payout ratio around 39%.

American Century Companies Inc. grew its holdings in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI - Free Report) by 10.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 452,995 shares of the financial services provider's stock after purchasing an additional 41,551 shares during the quarter. American Century Companies Inc. owned approximately 2.50% of Community Trust Bancorp worth $25,345,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its holdings in Community Trust Bancorp by 4.6% in the 2nd quarter. Geode Capital Management LLC now owns 413,312 shares of the financial services provider's stock valued at $21,872,000 after buying an additional 17,995 shares during the period. Clifford Capital Partners LLC raised its stake in Community Trust Bancorp by 3.1% during the second quarter. Clifford Capital Partners LLC now owns 282,588 shares of the financial services provider's stock worth $14,955,000 after purchasing an additional 8,455 shares during the period. LSV Asset Management boosted its holdings in shares of Community Trust Bancorp by 2.2% in the 3rd quarter. LSV Asset Management now owns 244,080 shares of the financial services provider's stock valued at $13,656,000 after purchasing an additional 5,153 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Community Trust Bancorp by 0.5% during the 2nd 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 during the period. Finally, Hillsdale Investment Management Inc. grew its stake in shares of Community Trust Bancorp by 24.8% during the 3rd quarter. Hillsdale Investment Management Inc. now owns 124,669 shares of the financial services provider's stock valued at $6,975,000 after buying an additional 24,800 shares during the period. 60.20% of the stock is currently owned by institutional investors and hedge funds.

Community Trust Bancorp Stock Down 0.8%

CTBI opened at $59.72 on Monday. Community Trust Bancorp, Inc. has a 1 year low of $44.60 and a 1 year high of $65.79. The firm has a 50 day moving average price of $60.97 and a 200 day moving average price of $57.67. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market cap of $1.08 billion, a PE ratio of 11.00 and a beta of 0.57.

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 earnings per share for the quarter, beating analysts' consensus estimates of $1.43 by $0.08. Community Trust Bancorp had a net margin of 23.95% and a return on equity of 11.96%. The firm had revenue of $74.72 million for the quarter, compared to analysts' expectations of $73.15 million. Sell-side analysts expect that Community Trust Bancorp, Inc. will post 5.06 earnings per share for the current year.

Community Trust Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Sunday, March 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 3.5%. The ex-dividend date of this dividend is Friday, March 13th. Community Trust Bancorp's dividend payout ratio is 39.04%.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Community Trust Bancorp in a research report on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $63.50.

About Community Trust Bancorp

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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