Keystone Financial Group Purchases Shares of 10,474 Community Trust Bancorp, Inc. (NASDAQ:CTBI)

Keystone Financial Group acquired a new stake in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 10,474 shares of the financial services provider's stock, valued at approximately $571,000. Keystone Financial Group owned approximately 0.06% of Community Trust Bancorp at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in CTBI. Hillsdale Investment Management Inc. purchased a new position in Community Trust Bancorp during the fourth quarter valued at approximately $3,732,000. American Century Companies Inc. raised its holdings in shares of Community Trust Bancorp by 11.4% during the fourth quarter. American Century Companies Inc. now owns 350,755 shares of the financial services provider's stock worth $18,601,000 after acquiring an additional 35,777 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Community Trust Bancorp during the fourth quarter valued at $1,860,000. JPMorgan Chase & Co. grew its stake in Community Trust Bancorp by 34.9% in the third quarter. JPMorgan Chase & Co. now owns 95,233 shares of the financial services provider's stock valued at $4,729,000 after purchasing an additional 24,622 shares in the last quarter. Finally, Barclays PLC increased its position in Community Trust Bancorp by 45.8% in the 3rd quarter. Barclays PLC now owns 50,376 shares of the financial services provider's stock worth $2,502,000 after purchasing an additional 15,832 shares during the last quarter. 60.20% of the stock is owned by hedge funds and other institutional investors.

Community Trust Bancorp Stock Performance

Shares of NASDAQ:CTBI traded down $0.37 during trading on Friday, reaching $47.19. The stock had a trading volume of 72,315 shares, compared to its average volume of 55,417. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.09. The stock has a fifty day simple moving average of $51.26 and a two-hundred day simple moving average of $53.30. The firm has a market capitalization of $854.23 million, a price-to-earnings ratio of 10.24 and a beta of 0.55. Community Trust Bancorp, Inc. has a 52 week low of $40.19 and a 52 week high of $61.67.

Community Trust Bancorp (NASDAQ:CTBI - Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.22 EPS for the quarter, topping analysts' consensus estimates of $1.19 by $0.03. The business had revenue of $66.16 million for the quarter, compared to analyst estimates 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 period in the previous year, the company posted $1.04 earnings per share. As a group, analysts anticipate that Community Trust Bancorp, Inc. will post 5.06 earnings per share for the current fiscal year.

Community Trust Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Saturday, March 15th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date of this dividend was Friday, March 14th. Community Trust Bancorp's dividend payout ratio (DPR) is currently 40.78%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CTBI. Piper Sandler lowered their price target on Community Trust Bancorp from $60.00 to $56.00 and set an "overweight" rating for the company in a research note on Thursday. Raymond James cut their price target on shares of Community Trust Bancorp from $60.00 to $58.00 and set an "outperform" rating on the stock in a report on Wednesday, April 2nd.

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.