Nuveen Asset Management LLC Acquires 18,260 Shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI)

Nuveen Asset Management LLC grew its position in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI - Free Report) by 19.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 111,538 shares of the financial services provider's stock after acquiring an additional 18,260 shares during the quarter. Nuveen Asset Management LLC owned about 0.62% of Community Trust Bancorp worth $5,915,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new position in shares of Community Trust Bancorp during the fourth quarter valued at about $1,860,000. Barclays PLC raised its holdings 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 valued at $2,502,000 after purchasing an additional 15,832 shares during the last quarter. Deutsche Bank AG grew its position in Community Trust Bancorp by 56.2% in the 4th 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. Intech Investment Management LLC purchased a new stake in Community Trust Bancorp in the 4th quarter valued at about $414,000. Finally, Keystone Financial Group bought a new position in shares of Community Trust Bancorp during the 4th quarter worth approximately $571,000. 60.20% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CTBI shares. Raymond James decreased their target price 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. Piper Sandler decreased their price objective on shares of Community Trust Bancorp from $60.00 to $56.00 and set an "overweight" rating for the company in a report on Thursday, April 17th.

Insider Buying and Selling

In other Community Trust Bancorp news, Director Franky Minnifield purchased 2,000 shares of the company's stock in a transaction dated Monday, June 2nd. The stock was purchased at an average price of $51.01 per share, for a total transaction of $102,020.00. Following the transaction, the director now owns 17,099 shares in the company, valued at $872,219.99. The trade was a 13.25% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 4.30% of the stock is currently owned by insiders.

Community Trust Bancorp Stock Performance

NASDAQ:CTBI traded down $0.60 during trading hours on Wednesday, reaching $50.86. The stock had a trading volume of 5,200 shares, compared to its average volume of 56,414. The stock has a market cap of $921.03 million, a P/E ratio of 11.04 and a beta of 0.56. The stock has a 50 day simple moving average of $49.65 and a 200 day simple moving average of $52.85. 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 12-month low of $40.19 and a 12-month high of $61.67.

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 the consensus estimate of $1.19 by $0.03. The company had revenue of $66.16 million during the quarter, compared to the consensus estimate of $64.92 million. Community Trust Bancorp had a return on equity of 11.36% and a net margin of 22.02%. During the same quarter in the prior year, the company earned $1.04 EPS. On average, research analysts forecast that Community Trust Bancorp, Inc. will post 5.06 EPS for the current fiscal year.

Community Trust Bancorp Announces Dividend

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