BTC Capital Management Inc. Takes $348,000 Position in Community Trust Bancorp, Inc. (NASDAQ:CTBI)

BTC Capital Management Inc. bought a new position in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 8,161 shares of the financial services provider’s stock, valued at approximately $348,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CTBI. Parallel Advisors LLC boosted its holdings in Community Trust Bancorp by 77.8% in the 4th quarter. Parallel Advisors LLC now owns 704 shares of the financial services provider’s stock worth $31,000 after buying an additional 308 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Community Trust Bancorp during the fourth quarter worth approximately $109,000. Quest Partners LLC purchased a new stake in shares of Community Trust Bancorp during the fourth quarter worth approximately $151,000. PBMares Wealth Management LLC acquired a new position in Community Trust Bancorp in the 4th quarter valued at $201,000. Finally, Chatham Capital Group Inc. acquired a new stake in Community Trust Bancorp during the 4th quarter worth $234,000. Hedge funds and other institutional investors own 60.20% of the company’s stock.

Community Trust Bancorp Price Performance

NASDAQ:CTBI opened at $41.02 on Friday. The stock has a 50 day moving average price of $42.27 and a 200 day moving average price of $41.67. The stock has a market cap of $739.59 million, a PE ratio of 9.52 and a beta of 0.66. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.88 and a current ratio of 0.88. Community Trust Bancorp, Inc. has a one year low of $33.48 and a one year high of $45.74.

Community Trust Bancorp (NASDAQ:CTBI) last released its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.06. Community Trust Bancorp had a net margin of 22.64% and a return on equity of 11.36%. The firm had revenue of $59.02 million during the quarter, compared to analysts’ expectations of $56.51 million. Equities research analysts expect that Community Trust Bancorp, Inc. will post 4.2 EPS for the current fiscal year.

Community Trust Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Saturday, June 15th will be issued a $0.46 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.84 annualized dividend and a dividend yield of 4.49%. Community Trust Bancorp’s dividend payout ratio is currently 42.69%.

Wall Street Analyst Weigh In

Separately, Janney Montgomery Scott started coverage on shares of Community Trust Bancorp in a research report on Wednesday, March 27th. They issued a “buy” rating and a $49.00 target price for the company.

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.