State Street Corp decreased its holdings in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI – Free Report) by 0.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 480,273 shares of the financial services provider’s stock after selling 2,344 shares during the period. State Street Corp owned approximately 2.66% of Community Trust Bancorp worth $24,076,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently made changes to their positions in the business. Innealta Capital LLC acquired a new position in shares of Community Trust Bancorp in the 2nd quarter worth $37,000. Los Angeles Capital Management LLC acquired a new stake in Community Trust Bancorp during the 2nd quarter worth about $337,000. Quest Partners LLC lifted its stake in Community Trust Bancorp by 70.1% during the second quarter. Quest Partners LLC now owns 5,262 shares of the financial services provider’s stock valued at $230,000 after buying an additional 2,168 shares in the last quarter. ClariVest Asset Management LLC boosted its holdings in shares of Community Trust Bancorp by 2.9% in the second quarter. ClariVest Asset Management LLC now owns 15,913 shares of the financial services provider’s stock worth $695,000 after buying an additional 445 shares during the period. Finally, American Century Companies Inc. increased its position in shares of Community Trust Bancorp by 20.5% in the second quarter. American Century Companies Inc. now owns 274,759 shares of the financial services provider’s stock worth $11,996,000 after acquiring an additional 46,745 shares in the last quarter. Institutional investors and hedge funds own 60.20% of the company’s stock.
Analyst Ratings Changes
A number of research firms recently commented on CTBI. Piper Sandler reaffirmed an “overweight” rating and issued a $64.00 price objective on shares of Community Trust Bancorp in a research note on Friday, November 8th. Raymond James upgraded Community Trust Bancorp from a “market perform” rating to an “outperform” rating and set a $60.00 price target on the stock in a report on Friday, October 18th.
Community Trust Bancorp Stock Performance
Shares of CTBI opened at $54.39 on Monday. The firm has a market cap of $982.17 million, a price-to-earnings ratio of 12.36 and a beta of 0.66. The company’s fifty day moving average is $56.18 and its 200-day moving average is $50.03. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.09. Community Trust Bancorp, Inc. has a 12 month low of $38.44 and a 12 month high of $61.67.
Community Trust Bancorp (NASDAQ:CTBI – Get Free Report) last issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.08. The business had revenue of $95.38 million during the quarter, compared to analysts’ expectations of $62.00 million. Community Trust Bancorp had a net margin of 21.64% and a return on equity of 10.93%. Equities analysts expect that Community Trust Bancorp, Inc. will post 4.56 EPS for the current fiscal year.
Community Trust Bancorp Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Sunday, December 15th will be given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.46%. The ex-dividend date is Friday, December 13th. Community Trust Bancorp’s dividend payout ratio (DPR) is presently 42.73%.
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.
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