Ameriprise Financial Inc. Trims Holdings in Community Trust Bancorp, Inc. (NASDAQ:CTBI)

Ameriprise Financial Inc. cut its stake in Community Trust Bancorp, Inc. (NASDAQ:CTBI - Free Report) by 34.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 111,823 shares of the financial services provider's stock after selling 57,608 shares during the quarter. Ameriprise Financial Inc. owned about 0.62% of Community Trust Bancorp worth $5,930,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in shares of Community Trust Bancorp in the fourth quarter valued at $1,860,000. Barclays PLC grew its position in shares of Community Trust Bancorp by 45.8% in the third quarter. Barclays PLC now owns 50,376 shares of the financial services provider's stock valued at $2,502,000 after purchasing an additional 15,832 shares in the last quarter. Intech Investment Management LLC purchased a new position in shares of Community Trust Bancorp in the fourth quarter valued at $414,000. Keystone Financial Group purchased a new position in shares of Community Trust Bancorp in the fourth quarter valued at $571,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Community Trust Bancorp in the fourth quarter valued at $473,000. 60.20% of the stock is currently owned by hedge funds and other institutional investors.

Community Trust Bancorp Price Performance

NASDAQ:CTBI traded down $0.03 during trading hours on Thursday, hitting $50.98. 2,106 shares of the company's stock traded hands, compared to its average volume of 56,316. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.09. The business's fifty day simple moving average is $49.70 and its two-hundred day simple moving average is $53.14. Community Trust Bancorp, Inc. has a 52 week low of $40.19 and a 52 week high of $61.67. The firm has a market cap of $923.30 million, a P/E ratio of 11.07 and a beta of 0.56.

Community Trust Bancorp (NASDAQ:CTBI - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.03. Community Trust Bancorp had a return on equity of 11.36% and a net margin of 22.02%. The firm had revenue of $66.16 million during the quarter, compared to analyst estimates of $64.92 million. During the same quarter in the previous year, the company posted $1.04 earnings per share. On average, research analysts anticipate that Community Trust Bancorp, Inc. will post 5.06 earnings per share for the current fiscal year.

Community Trust Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Sunday, June 15th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date of this dividend is Friday, June 13th. Community Trust Bancorp's dividend payout ratio (DPR) is presently 39.25%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Piper Sandler reduced their price target on Community Trust Bancorp from $60.00 to $56.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Raymond James dropped their price objective on Community Trust Bancorp from $60.00 to $58.00 and set an "outperform" rating for the company in a research note on Wednesday, April 2nd.

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.