Teacher Retirement System of Texas Sells 12,001 Shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI)

Teacher Retirement System of Texas decreased its holdings in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI - Free Report) by 40.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 0.10% of Community Trust Bancorp worth $886,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CTBI. Aptus Capital Advisors LLC grew its stake in shares of Community Trust Bancorp by 1.8% in the 4th quarter. Aptus Capital Advisors LLC now owns 12,456 shares of the financial services provider's stock worth $666,000 after buying an additional 219 shares during the last quarter. SummerHaven Investment Management LLC grew its stake in shares of Community Trust Bancorp by 1.5% in the 1st quarter. SummerHaven Investment Management LLC now owns 18,278 shares of the financial services provider's stock worth $920,000 after buying an additional 268 shares during the last quarter. BTC Capital Management Inc. grew its stake in shares of Community Trust Bancorp by 3.9% in the 1st quarter. BTC Capital Management Inc. now owns 7,552 shares of the financial services provider's stock worth $380,000 after buying an additional 282 shares during the last quarter. LPL Financial LLC grew its stake in shares of Community Trust Bancorp by 6.6% in the 4th quarter. LPL Financial LLC now owns 4,964 shares of the financial services provider's stock worth $263,000 after buying an additional 307 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Community Trust Bancorp by 3.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,741 shares of the financial services provider's stock worth $464,000 after buying an additional 323 shares during the last quarter. Institutional investors own 60.20% of the company's stock.

Community Trust Bancorp Stock Up 0.2%

CTBI traded up $0.09 during trading on Friday, hitting $56.89. 22,590 shares of the company's stock traded hands, compared to its average volume of 56,669. The company's 50 day simple moving average is $52.63 and its two-hundred day simple moving average is $51.95. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.09. Community Trust Bancorp, Inc. has a 12-month low of $44.60 and a 12-month high of $61.67. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of 11.19 and a beta of 0.58.

Community Trust Bancorp (NASDAQ:CTBI - Get Free Report) last released its quarterly 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. The firm had revenue of $70.21 million for the quarter, compared to the consensus estimate of $68.00 million. Community Trust Bancorp had a return on equity of 11.92% and a net margin of 23.33%. Analysts predict that Community Trust Bancorp, Inc. will post 5.06 earnings per share 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 $0.47 dividend. The ex-dividend date was Friday, June 13th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.30%. Community Trust Bancorp's dividend payout ratio (DPR) is currently 37.01%.

Wall Street Analysts Forecast Growth

CTBI has been the topic of several recent analyst reports. Piper Sandler cut their target price on Community Trust Bancorp from $60.00 to $56.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Raymond James Financial reiterated an "outperform" rating and set a $63.00 target price (up from $58.00) on shares of Community Trust Bancorp in a research note on Thursday.

Insider Activity

In other Community Trust Bancorp news, Director Franky Minnifield purchased 2,000 shares of the firm's stock in a transaction on Monday, June 2nd. The shares were acquired 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 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 legal filing with the SEC, which is available through the SEC website. 4.30% of the stock is currently owned by company insiders.

Community Trust Bancorp 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.