Man Group plc Cuts Position in Community Trust Bancorp, Inc. (NASDAQ:CTBI)

Man Group plc decreased its holdings in Community Trust Bancorp, Inc. (NASDAQ:CTBI - Free Report) by 29.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,812 shares of the financial services provider's stock after selling 5,819 shares during the period. Man Group plc owned about 0.08% of Community Trust Bancorp worth $732,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CTBI. US Bancorp DE increased its holdings in shares of Community Trust Bancorp by 311.8% during the 4th quarter. US Bancorp DE now owns 560 shares of the financial services provider's stock worth $30,000 after acquiring an additional 424 shares during the last quarter. Federated Hermes Inc. acquired a new stake in shares of Community Trust Bancorp in the fourth quarter valued at approximately $46,000. New York State Teachers Retirement System bought a new stake in shares of Community Trust Bancorp during the 4th quarter valued at $75,000. Quantbot Technologies LP lifted its position in Community Trust Bancorp by 43.5% during the fourth quarter. Quantbot Technologies LP now owns 1,824 shares of the financial services provider's stock worth $97,000 after purchasing an additional 553 shares during the period. Finally, Tower Research Capital LLC TRC boosted its position in shares of Community Trust Bancorp by 317.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,824 shares of the financial services provider's stock worth $97,000 after acquiring an additional 1,387 shares in the last quarter. 60.20% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on CTBI. Piper Sandler reduced their price objective on Community Trust Bancorp from $60.00 to $56.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Raymond James reduced their target price 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.

Community Trust Bancorp Trading Down 0.2%

Shares of CTBI stock traded down $0.09 during trading hours on Friday, hitting $51.31. 2,558 shares of the company were exchanged, compared to its average volume of 56,334. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.90 and a current ratio of 0.90. Community Trust Bancorp, Inc. has a fifty-two week low of $40.19 and a fifty-two week high of $61.67. The company has a 50 day simple moving average of $49.68 and a two-hundred day simple moving average of $53.07. The firm has a market cap of $929.28 million, a P/E ratio of 11.13 and a beta of 0.56.

Community Trust Bancorp (NASDAQ:CTBI - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.22 earnings per share for the quarter, topping analysts' consensus estimates 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 business had revenue of $66.16 million for the quarter, compared to the consensus estimate of $64.92 million. During the same period in the prior year, the business earned $1.04 EPS. Equities analysts anticipate that Community Trust Bancorp, Inc. will post 5.06 EPS for the current year.

Community Trust Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Sunday, June 15th will be given a $0.47 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.88 annualized dividend and a yield of 3.66%. Community Trust Bancorp's payout ratio is 39.25%.

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.