Deutsche Bank AG Purchases New Position in Community Trust Bancorp, Inc. $CTBI

Key Points

• Deutsche Bank AG established a new position in Community Trust Bancorp, purchasing 16,105 shares valued at approximately $1.17 million. Institutional investors and hedge funds collectively own 60.2% of CTBI.
• Community Trust Bancorp reported quarterly EPS of $1.64, exceeding estimates of $1.52, while revenue reached $78.49 million. The company also increased its quarterly dividend to $0.65 per share, implying a 3.4% annualized yield.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $81.50; CTBI recently traded at $76.66, near its 12-month high of $79.92.

Deutsche Bank AG bought a new position in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 16,105 shares of the financial services provider's stock, valued at approximately $1,165,000. Deutsche Bank AG owned approximately 0.09% of Community Trust Bancorp at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CTBI. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Community Trust Bancorp in the fourth quarter valued at approximately $30,000. Quadrant Capital Group LLC acquired a new stake in Community Trust Bancorp during the 3rd quarter valued at $86,000. Russell Investments Group Ltd. boosted its holdings in shares of Community Trust Bancorp by 478.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,650 shares of the financial services provider's stock worth $92,000 after buying an additional 1,365 shares during the period. Strs Ohio acquired a new position in shares of Community Trust Bancorp in the first quarter valued at approximately $86,000. Finally, Virtus Advisers LLC acquired a new position in shares of Community Trust Bancorp in the third quarter valued at about $142,000. Institutional investors and hedge funds own 60.20% of the company's stock.

Insider Transactions at Community Trust Bancorp

In other news, Director Franky Minnifield sold 3,900 shares of the firm's stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $78.85, for a total transaction of $307,515.00. Following the transaction, the director directly owned 8,320 shares of the company's stock, valued at approximately $656,032. This trade represents a 31.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on CTBI shares. Zacks Research lowered Community Trust Bancorp from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 16th. Weiss Ratings upgraded Community Trust Bancorp from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Thursday, August 13th. Piper Sandler raised their target price on Community Trust Bancorp from $76.00 to $81.00 and gave the stock a "neutral" rating in a research note on Thursday, July 16th. Finally, Raymond James Financial reissued an "outperform" rating and issued a $82.00 price objective on shares of Community Trust Bancorp in a research note on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $81.50.

Community Trust Bancorp Stock Performance

NASDAQ:CTBI opened at $76.66 on Monday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.08. Community Trust Bancorp, Inc. has a twelve month low of $50.25 and a twelve month high of $79.92. The stock has a market cap of $1.39 billion, a P/E ratio of 12.84 and a beta of 0.53. The business's 50-day moving average price is $75.33 and its two-hundred day moving average price is $68.02.

Community Trust Bancorp (NASDAQ:CTBI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $1.64 EPS for the quarter, topping analysts' consensus estimates of $1.52 by $0.12. Community Trust Bancorp had a net margin of 25.55% and a return on equity of 12.52%. The firm had revenue of $78.49 million for the quarter, compared to analyst estimates of $76.85 million. As a group, equities analysts predict that Community Trust Bancorp, Inc. will post 6.41 EPS for the current fiscal year.

Community Trust Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be paid a $0.65 dividend. This is an increase from Community Trust Bancorp's previous quarterly dividend of $0.53. This represents a $2.60 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, September 15th. Community Trust Bancorp's payout ratio is currently 35.51%.

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.

Want to see what other hedge funds are holding CTBI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Community Trust Bancorp, Inc. (NASDAQ:CTBI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source