Ellsworth Advisors LLC Invests $513,000 in Community Trust Bancorp, Inc. $CTBI

Key Points

• Ellsworth Advisors LLC has acquired a new stake in Community Trust Bancorp, purchasing 10,181 shares valued at approximately $513,000, representing ownership of 0.06% of the company.
• Community Trust Bancorp recently declared a quarterly dividend increase to $0.53 per share, with a yield of 3.7%, demonstrating a positive trend from the previous dividend of $0.47.
• Analysts have rated Community Trust Bancorp shares with a consensus "Buy" rating and an average target price of $64.50, reflecting favorable market sentiment.

Ellsworth Advisors LLC acquired a new position in Community Trust Bancorp, Inc. (NASDAQ:CTBI - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,181 shares of the financial services provider's stock, valued at approximately $513,000. Ellsworth Advisors LLC owned 0.06% of Community Trust Bancorp at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CTBI. Bank of America Corp DE boosted its position in Community Trust Bancorp by 11.5% during the 4th quarter. Bank of America Corp DE now owns 28,016 shares of the financial services provider's stock valued at $1,486,000 after acquiring an additional 2,897 shares in the last quarter. Cubist Systematic Strategies LLC boosted its position in Community Trust Bancorp by 256.2% during the fourth quarter. Cubist Systematic Strategies LLC now owns 4,335 shares of the financial services provider's stock valued at $230,000 after purchasing an additional 3,118 shares in the last quarter. Deutsche Bank AG raised its holdings in Community Trust Bancorp by 56.2% in the fourth quarter. Deutsche Bank AG now owns 15,902 shares of the financial services provider's stock worth $843,000 after purchasing an additional 5,720 shares in the last quarter. Graham Capital Management L.P. purchased a new stake in shares of Community Trust Bancorp during the fourth quarter valued at about $226,000. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in shares of Community Trust Bancorp by 1.7% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 45,683 shares of the financial services provider's stock valued at $2,423,000 after buying an additional 782 shares in the last quarter. 60.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on CTBI shares. Raymond James Financial restated an "outperform" rating and issued a $63.00 price objective (up from $58.00) on shares of Community Trust Bancorp in a research note on Thursday, July 17th. Piper Sandler started coverage on shares of Community Trust Bancorp in a report on Monday, August 18th. They set an "overweight" rating and a $66.00 target price for the company. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $64.50.

Insider Buying and Selling at Community Trust Bancorp

In other news, EVP Andy D. Waters sold 918 shares of the company's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $56.18, for a total transaction of $51,573.24. Following the completion of the transaction, the executive vice president directly owned 632 shares in the company, valued at approximately $35,505.76. This represents a 59.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.30% of the company's stock.

Community Trust Bancorp Stock Performance

NASDAQ:CTBI traded up $0.68 during mid-day trading on Wednesday, reaching $56.30. 9,732 shares of the company's stock were exchanged, compared to its average volume of 57,758. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market capitalization of $1.02 billion, a PE ratio of 11.08 and a beta of 0.62. Community Trust Bancorp, Inc. has a one year low of $44.60 and a one year high of $61.67. The business's fifty day simple moving average is $56.22 and its two-hundred day simple moving average is $52.70.

Community Trust Bancorp (NASDAQ:CTBI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $70.21 million during the quarter, compared to analysts' expectations of $68.00 million. Analysts anticipate that Community Trust Bancorp, Inc. will post 5.06 earnings per share for the current fiscal year.

Community Trust Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be given a $0.53 dividend. This is an increase from Community Trust Bancorp's previous quarterly dividend of $0.47. This represents a $2.12 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Monday, September 15th. Community Trust Bancorp's dividend payout ratio (DPR) is 41.73%.

Community Trust Bancorp Company 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.