Teacher Retirement System of Texas Has $886,000 Holdings in Community Trust Bancorp, Inc. (NASDAQ:CTBI)

Teacher Retirement System of Texas lowered its stake in Community Trust Bancorp, Inc. (NASDAQ:CTBI - Free Report) by 40.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,588 shares of the financial services provider's stock after selling 12,001 shares during the period. Teacher Retirement System of Texas owned approximately 0.10% of Community Trust Bancorp worth $886,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Community Trust & Investment Co. increased its position in shares of Community Trust Bancorp by 1.6% in the first quarter. Community Trust & Investment Co. now owns 1,920,934 shares of the financial services provider's stock worth $96,738,000 after purchasing an additional 29,577 shares during the period. Asio Capital LLC bought a new position in shares of Community Trust Bancorp in the first quarter worth $252,000. SummerHaven Investment Management LLC grew its position in Community Trust Bancorp by 1.5% in the first quarter. SummerHaven Investment Management LLC now owns 18,278 shares of the financial services provider's stock valued at $920,000 after acquiring an additional 268 shares during the last quarter. SG Americas Securities LLC grew its position in Community Trust Bancorp by 41.6% in the first quarter. SG Americas Securities LLC now owns 7,746 shares of the financial services provider's stock valued at $390,000 after acquiring an additional 2,277 shares during the last quarter. Finally, Wedge Capital Management L L P NC grew its position in Community Trust Bancorp by 20.2% in the first quarter. Wedge Capital Management L L P NC now owns 15,275 shares of the financial services provider's stock valued at $769,000 after acquiring an additional 2,563 shares during the last quarter. Institutional investors own 60.20% of the company's stock.

Community Trust Bancorp Trading Up 3.8%

Shares of CTBI stock traded up $2.06 during mid-day trading on Wednesday, reaching $55.94. 72,398 shares of the stock traded hands, compared to its average volume of 56,894. The stock's fifty day simple moving average is $52.52 and its two-hundred day simple moving average is $51.92. Community Trust Bancorp, Inc. has a 1-year low of $44.60 and a 1-year high of $61.67. The company has a market cap of $1.01 billion, a price-to-earnings ratio of 11.68 and a beta of 0.58. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.09.

Community Trust Bancorp (NASDAQ:CTBI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $1.38 EPS for the quarter, beating analysts' consensus estimates of $1.27 by $0.11. Community Trust Bancorp had a return on equity of 11.40% and a net margin of 22.49%. The firm had revenue of $70.21 million for the quarter, compared to analyst estimates of $68.00 million. On average, research analysts anticipate that Community Trust Bancorp, Inc. will post 5.06 EPS for the current fiscal year.

Community Trust Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Sunday, June 15th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date of this dividend was Friday, June 13th. Community Trust Bancorp's payout ratio is 39.25%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CTBI shares. Raymond James Financial decreased their target price on Community Trust Bancorp from $60.00 to $58.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 2nd. Piper Sandler decreased their target price on Community Trust Bancorp from $60.00 to $56.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th.

Insider Activity at Community Trust Bancorp

In related news, Director Franky Minnifield acquired 2,000 shares of the business's stock in a transaction that occurred 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 purchase, the director directly owned 17,099 shares in the company, valued at $872,219.99. The trade was a 13.25% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 4.30% of the stock is currently owned by corporate insiders.

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.