Nuveen LLC Buys Shares of 103,452 Community Trust Bancorp, Inc. $CTBI

Key Points

• Nuveen LLC has acquired a new stake in Community Trust Bancorp, purchasing 103,452 shares valued at approximately $5.21 million, representing 0.57% ownership.
• Community Trust Bancorp reported earnings per share (EPS) of $1.38 for the last quarter, surpassing expectations, alongside a revenue of $70.21 million.
• The company announced an increase in its quarterly dividend to $0.53 per share, resulting in an annualized yield of 3.6%.

Nuveen LLC bought a new stake in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 103,452 shares of the financial services provider's stock, valued at approximately $5,210,000. Nuveen LLC owned approximately 0.57% of Community Trust Bancorp as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of CTBI. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Community Trust Bancorp by 30.0% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 39,893 shares of the financial services provider's stock valued at $2,009,000 after purchasing an additional 9,207 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Community Trust Bancorp by 4.0% in the first quarter. Vanguard Group Inc. now owns 921,499 shares of the financial services provider's stock worth $46,407,000 after buying an additional 35,815 shares in the last quarter. PNC Financial Services Group Inc. lifted its position 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 worth $40,000 after buying an additional 228 shares in the last quarter. US Bancorp DE boosted its stake in Community Trust Bancorp by 90.2% during the first quarter. US Bancorp DE now owns 1,065 shares of the financial services provider's stock valued at $54,000 after buying an additional 505 shares during the last quarter. Finally, Calton & Associates Inc. boosted its stake in Community Trust Bancorp by 64.0% during the first quarter. Calton & Associates Inc. now owns 15,763 shares of the financial services provider's stock valued at $794,000 after buying an additional 6,150 shares during the last quarter. 60.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Community Trust Bancorp

In other news, EVP Andy D. Waters sold 918 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $56.18, for a total value of $51,573.24. Following the sale, the executive vice president owned 632 shares of the company's stock, valued at approximately $35,505.76. This represents a 59.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.30% of the company's stock.

Community Trust Bancorp Trading Down 0.3%

CTBI stock traded down $0.20 during midday trading on Monday, reaching $58.42. 56,439 shares of the company traded hands, compared to its average volume of 51,260. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 11.50 and a beta of 0.62. Community Trust Bancorp, Inc. has a 52-week low of $44.60 and a 52-week high of $61.67. The business has a 50 day moving average of $55.50 and a 200-day moving average of $52.46. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 0.93.

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

Community Trust Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 3.6%. This is a positive change from Community Trust Bancorp's previous quarterly dividend of $0.47. The ex-dividend date is Monday, September 15th. Community Trust Bancorp's dividend payout ratio (DPR) is presently 37.01%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Raymond James Financial reaffirmed an "outperform" rating and issued a $63.00 price objective (up previously 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 issued an "overweight" rating and a $66.00 target price for the company. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus 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.