Community Trust Bancorp, Inc. (NASDAQ:CTBI) is Community Trust & Investment Co.'s Largest Position

Community Trust & Investment Co. grew its stake in Community Trust Bancorp, Inc. (NASDAQ:CTBI - Free Report) by 1.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,920,934 shares of the financial services provider's stock after acquiring an additional 29,577 shares during the quarter. Community Trust Bancorp accounts for 6.2% of Community Trust & Investment Co.'s portfolio, making the stock its biggest holding. Community Trust & Investment Co. owned about 10.61% of Community Trust Bancorp worth $96,738,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in shares of Community Trust Bancorp during the fourth quarter valued at $1,860,000. Deutsche Bank AG lifted its holdings in shares of Community Trust Bancorp by 56.2% during the fourth quarter. Deutsche Bank AG now owns 15,902 shares of the financial services provider's stock valued at $843,000 after purchasing an additional 5,720 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of Community Trust Bancorp during the fourth quarter valued at $414,000. Keystone Financial Group bought a new position in shares of Community Trust Bancorp during the fourth quarter valued at $571,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Community Trust Bancorp during the fourth quarter valued at $473,000. 60.20% of the stock is owned by institutional investors.

Community Trust Bancorp Stock Performance

CTBI stock traded up $0.43 during trading on Thursday, reaching $50.22. The stock had a trading volume of 51,787 shares, compared to its average volume of 57,154. Community Trust Bancorp, Inc. has a 52 week low of $40.72 and a 52 week high of $61.67. The stock's 50 day moving average is $50.28 and its two-hundred day moving average is $52.31. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.09. The firm has a market cap of $909.48 million, a PE ratio of 10.48 and a beta of 0.58.

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 for the quarter, beating analysts' consensus estimates of $1.19 by $0.03. Community Trust Bancorp had a return on equity of 11.40% and a net margin of 22.49%. The company had revenue of $66.16 million for the quarter, compared to the consensus estimate of $64.92 million. During the same quarter in the prior year, the company earned $1.04 earnings per share. As a group, equities analysts anticipate that Community Trust Bancorp, Inc. will post 5.06 earnings per share for the current year.

Community Trust Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Sunday, June 15th will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis 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%.

Wall Street Analyst Weigh In

CTBI has been the topic of a number of research analyst reports. Raymond James Financial lowered their price target 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. Piper Sandler lowered their target price on Community Trust Bancorp from $60.00 to $56.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th.

Insiders Place Their Bets

In related news, Director Franky Minnifield purchased 2,000 shares of Community Trust Bancorp stock in a transaction on Monday, June 2nd. The stock was acquired at an average price of $51.01 per share, for a total transaction of $102,020.00. Following the completion of the transaction, the director now directly owns 17,099 shares in the company, valued at $872,219.99. This represents a 13.25% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 4.30% of the company's stock.

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.