Vanguard Group Inc. Decreases Position in Community Trust Bancorp, Inc. (NASDAQ:CTBI)

Vanguard Group Inc. decreased its position in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI - Free Report) by 8.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 869,389 shares of the financial services provider's stock after selling 77,155 shares during the quarter. Vanguard Group Inc. owned approximately 4.83% of Community Trust Bancorp worth $29,785,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Money Concepts Capital Corp bought a new position in shares of Community Trust Bancorp during the 4th quarter worth $32,000. Point72 Asset Management L.P. bought a new position in Community Trust Bancorp in the 2nd quarter worth about $26,000. Ensign Peak Advisors Inc bought a new position in Community Trust Bancorp in the 3rd quarter worth about $60,000. Royal Bank of Canada boosted its stake in Community Trust Bancorp by 84.9% in the 2nd quarter. Royal Bank of Canada now owns 1,622 shares of the financial services provider's stock worth $58,000 after purchasing an additional 745 shares during the period. Finally, Great West Life Assurance Co. Can boosted its stake in Community Trust Bancorp by 49.5% in the 1st quarter. Great West Life Assurance Co. Can now owns 1,896 shares of the financial services provider's stock worth $81,000 after purchasing an additional 628 shares during the period. Institutional investors own 60.20% of the company's stock.

Community Trust Bancorp Price Performance

Shares of NASDAQ:CTBI traded up $0.03 on Friday, hitting $40.06. The company's stock had a trading volume of 35,037 shares, compared to its average volume of 48,416. The company has a 50-day simple moving average of $40.42 and a 200 day simple moving average of $40.08. Community Trust Bancorp, Inc. has a 1 year low of $32.68 and a 1 year high of $45.74. The company has a market capitalization of $721.88 million, a PE ratio of 9.21 and a beta of 0.68. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.87 and a quick ratio of 0.87.

Community Trust Bancorp (NASDAQ:CTBI - Get Free Report) last released its quarterly earnings results on Wednesday, January 17th. The financial services provider reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.04). Community Trust Bancorp had a net margin of 23.91% and a return on equity of 11.68%. The business had revenue of $57.00 million during the quarter, compared to analysts' expectations of $58.00 million. Sell-side analysts forecast that Community Trust Bancorp, Inc. will post 4.09 EPS for the current fiscal year.

Community Trust Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were issued a $0.46 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.84 annualized dividend and a dividend yield of 4.59%. This is a boost from Community Trust Bancorp's previous quarterly dividend of $0.40. Community Trust Bancorp's dividend payout ratio (DPR) is presently 42.30%.

Analyst Ratings Changes

Several research analysts have commented on CTBI shares. Janney Montgomery Scott started coverage on Community Trust Bancorp in a research note on Wednesday, March 27th. They issued a "buy" rating and a $49.00 target price for the company. Piper Sandler started coverage on Community Trust Bancorp in a research note on Friday, February 16th. They issued an "overweight" rating and a $47.00 target price for the company.

Insider Buying and Selling at Community Trust Bancorp

In other news, CEO Mark A. Gooch acquired 856 shares of the firm's stock in a transaction that occurred on Wednesday, January 24th. The shares were bought at an average cost of $41.68 per share, with a total value of $35,678.08. Following the acquisition, the chief executive officer now owns 27,191 shares in the company, valued at approximately $1,133,320.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Franky Minnifield purchased 2,000 shares of the firm's stock in a transaction on Friday, March 15th. The shares were acquired at an average cost of $39.28 per share, with a total value of $78,560.00. Following the purchase, the director now directly owns 14,401 shares of the company's stock, valued at $565,671.28. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Mark A. Gooch purchased 856 shares of the firm's stock in a transaction on Wednesday, January 24th. The stock was bought at an average cost of $41.68 per share, for a total transaction of $35,678.08. Following the completion of the purchase, the chief executive officer now directly owns 27,191 shares in the company, valued at $1,133,320.88. The disclosure for this purchase can be found here. Insiders have acquired a total of 5,117 shares of company stock valued at $207,283 in the last 90 days. Corporate insiders own 4.30% of the company's stock.

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.