Raymond James Financial Inc. Purchases Shares of 35,082 Community Trust Bancorp, Inc. (NASDAQ:CTBI)

Raymond James Financial Inc. acquired a new position in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 35,082 shares of the financial services provider's stock, valued at approximately $1,860,000. Raymond James Financial Inc. owned about 0.19% of Community Trust Bancorp as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the company. Barclays PLC lifted its holdings in Community Trust Bancorp by 45.8% during 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. Intech Investment Management LLC acquired a new stake in shares of Community Trust Bancorp during the fourth quarter worth $414,000. JPMorgan Chase & Co. boosted its position in shares of 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 acquiring an additional 24,622 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Community Trust Bancorp in the fourth quarter valued at about $473,000. Finally, Y Intercept Hong Kong Ltd bought a new position in Community Trust Bancorp during the fourth quarter worth about $319,000. Institutional investors own 60.20% of the company's stock.

Community Trust Bancorp Price Performance

Community Trust Bancorp stock traded down $0.12 during midday trading on Wednesday, reaching $50.12. The company's stock had a trading volume of 56,617 shares, compared to its average volume of 55,951. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.09. The stock has a market cap of $907.27 million, a PE ratio of 10.87 and a beta of 0.56. Community Trust Bancorp, Inc. has a 52 week low of $40.19 and a 52 week high of $61.67. The business has a 50-day moving average price of $49.65 and a 200-day moving average price of $53.28.

Community Trust Bancorp (NASDAQ:CTBI - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.19 by $0.03. Community Trust Bancorp had a net margin of 22.02% and a return on equity of 11.36%. The business had revenue of $66.16 million during the quarter, compared to analysts' expectations of $64.92 million. During the same period in the prior year, the company earned $1.04 EPS. On average, sell-side analysts predict that Community Trust Bancorp, Inc. will post 5.06 EPS for the current year.

Community Trust Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Sunday, June 15th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.88 dividend on an annualized basis and a yield of 3.75%. Community Trust Bancorp's dividend payout ratio is currently 39.25%.

Analyst Ratings Changes

Several research firms have recently issued reports on CTBI. Piper Sandler reduced their target price on Community Trust Bancorp from $60.00 to $56.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Raymond James lowered their price objective on shares of Community Trust Bancorp from $60.00 to $58.00 and set an "outperform" rating for the company in a research report on Wednesday, April 2nd.

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.