Northern Trust Corp Has $19.39 Million Holdings in Community Trust Bancorp, Inc. $CTBI

Northern Trust Corp raised its position in Community Trust Bancorp, Inc. (NASDAQ:CTBI - Free Report) by 8.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 384,942 shares of the financial services provider's stock after purchasing an additional 29,864 shares during the quarter. Northern Trust Corp owned about 2.13% of Community Trust Bancorp worth $19,386,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its stake in shares of Community Trust Bancorp by 39.8% in the first quarter. PNC Financial Services Group Inc. now owns 801 shares of the financial services provider's stock valued at $40,000 after purchasing an additional 228 shares during the period. US Bancorp DE increased its stake in shares of Community Trust Bancorp by 90.2% in the first quarter. US Bancorp DE now owns 1,065 shares of the financial services provider's stock valued at $54,000 after purchasing an additional 505 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of Community Trust Bancorp by 317.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,824 shares of the financial services provider's stock valued at $97,000 after purchasing an additional 1,387 shares during the period. Aquatic Capital Management LLC increased its stake in shares of Community Trust Bancorp by 207.1% in the fourth quarter. Aquatic Capital Management LLC now owns 2,457 shares of the financial services provider's stock valued at $130,000 after purchasing an additional 1,657 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Community Trust Bancorp by 3,898.5% in the first quarter. GAMMA Investing LLC now owns 2,719 shares of the financial services provider's stock valued at $137,000 after purchasing an additional 2,651 shares during the period. Institutional investors and hedge funds own 60.20% of the company's stock.

Insider Buying and Selling at Community Trust Bancorp

In other news, EVP Andy D. Waters sold 918 shares of the firm'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 transaction, the executive vice president owned 632 shares in the company, valued at approximately $35,505.76. This trade represents a 59.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 4.30% of the company's stock.

Community Trust Bancorp Trading Down 0.8%

Shares of NASDAQ:CTBI traded down $0.47 during mid-day trading on Friday, hitting $58.37. The stock had a trading volume of 50,110 shares, compared to its average volume of 46,432. 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 company has a market cap of $1.06 billion, a PE ratio of 11.49 and a beta of 0.62. Community Trust Bancorp, Inc. has a 12-month low of $44.60 and a 12-month high of $61.67. The company's 50 day moving average is $55.96 and its 200-day moving average is $52.56.

Community Trust Bancorp (NASDAQ:CTBI - Get Free Report) last released its earnings results on Wednesday, July 16th. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.27 by $0.11. Community Trust Bancorp had a net margin of 23.33% and a return on equity of 11.77%. The company had revenue of $70.21 million during the quarter, compared to the consensus estimate of $68.00 million. On average, sell-side analysts predict that Community Trust Bancorp, Inc. will post 5.06 EPS for the current year.

Community Trust Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be issued a dividend of $0.53 per share. The ex-dividend date is Monday, September 15th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.6%. This is an increase from Community Trust Bancorp's previous quarterly dividend of $0.47. Community Trust Bancorp's payout ratio is 37.01%.

Analyst Ratings Changes

CTBI has been the subject of several recent analyst reports. Piper Sandler initiated coverage on shares of Community Trust Bancorp in a report on Monday, August 18th. They issued an "overweight" rating and a $66.00 price objective for the company. Raymond James Financial reiterated an "outperform" rating and issued a $63.00 price objective (up from $58.00) on shares of Community Trust Bancorp in a report on Thursday, July 17th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $64.50.

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.