Millennium Management LLC Trims Holdings in Community Trust Bancorp, Inc. (NASDAQ:CTBI)

Millennium Management LLC lessened its position in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI - Free Report) by 18.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 46,521 shares of the financial services provider's stock after selling 10,816 shares during the quarter. Millennium Management LLC owned 0.26% of Community Trust Bancorp worth $2,467,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of CTBI. Barclays PLC raised its stake 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 worth $2,502,000 after purchasing an additional 15,832 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Community Trust Bancorp by 29.9% in the fourth quarter. SG Americas Securities LLC now owns 5,469 shares of the financial services provider's stock worth $290,000 after purchasing an additional 1,258 shares during the last quarter. New York State Teachers Retirement System purchased a new position in shares of Community Trust Bancorp in the fourth quarter worth about $75,000. Rhumbline Advisers raised its stake in shares of Community Trust Bancorp by 5.2% in the fourth quarter. Rhumbline Advisers now owns 24,719 shares of the financial services provider's stock worth $1,311,000 after purchasing an additional 1,232 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Community Trust Bancorp in the fourth quarter worth about $319,000. 60.20% of the stock is currently owned by hedge funds and other institutional investors.

Community Trust Bancorp Stock Performance

CTBI stock traded down $0.61 during trading on Wednesday, hitting $50.84. 49,564 shares of the company traded hands, compared to its average volume of 56,672. The stock's 50-day simple moving average is $49.65 and its 200 day simple moving average is $52.84. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market cap of $920.76 million, a PE ratio of 11.03 and a beta of 0.56. Community Trust Bancorp, Inc. has a 1 year low of $40.19 and a 1 year high of $61.67.

Community Trust Bancorp (NASDAQ:CTBI - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.22 EPS for the quarter, beating 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 company had revenue of $66.16 million for the quarter, compared to analyst estimates of $64.92 million. During the same period last year, the company earned $1.04 earnings per share. On average, equities analysts expect that Community Trust Bancorp, Inc. will post 5.06 earnings per share for the current fiscal year.

Community Trust Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Sunday, June 15th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.70%. The ex-dividend date is Friday, June 13th. Community Trust Bancorp's payout ratio is currently 39.25%.

Analyst Ratings Changes

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

Insider Buying and Selling at Community Trust Bancorp

In other Community Trust Bancorp news, Director Franky Minnifield acquired 2,000 shares of the company's stock in a transaction on Monday, June 2nd. The shares were bought at an average cost of $51.01 per share, with a total value of $102,020.00. Following the completion of the acquisition, the director now owns 17,099 shares in the company, valued at approximately $872,219.99. This trade represents a 13.25% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.30% of the stock is owned by corporate insiders.

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.