Franklin Resources Inc. Has $503,000 Holdings in Community Trust Bancorp, Inc. (NASDAQ:CTBI)

Franklin Resources Inc. grew its holdings in Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 9.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,044 shares of the financial services provider’s stock after buying an additional 889 shares during the period. Franklin Resources Inc. owned 0.06% of Community Trust Bancorp worth $503,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Quantbot Technologies LP bought a new position in Community Trust Bancorp during the third quarter worth $63,000. Coastline Trust Co acquired a new stake in shares of Community Trust Bancorp during the 3rd quarter worth about $79,000. CWM LLC boosted its holdings in shares of Community Trust Bancorp by 12.2% during the 3rd quarter. CWM LLC now owns 2,918 shares of the financial services provider’s stock worth $145,000 after buying an additional 317 shares during the period. SG Americas Securities LLC acquired a new position in Community Trust Bancorp in the 3rd quarter valued at about $209,000. Finally, BNP Paribas Financial Markets raised its holdings in Community Trust Bancorp by 33.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,285 shares of the financial services provider’s stock valued at $213,000 after acquiring an additional 1,079 shares during the period. 60.20% of the stock is currently owned by institutional investors.

Community Trust Bancorp Stock Down 0.7 %

Shares of NASDAQ CTBI opened at $53.22 on Tuesday. Community Trust Bancorp, Inc. has a 52 week low of $38.44 and a 52 week high of $61.67. The stock’s fifty day moving average is $56.50 and its 200 day moving average is $50.56. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market capitalization of $961.05 million, a P/E ratio of 12.10 and a beta of 0.66.

Community Trust Bancorp (NASDAQ:CTBI) last issued its earnings results on Wednesday, October 16th. The financial services provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.15 by $0.08. The company 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%. Sell-side analysts forecast that Community Trust Bancorp, Inc. will post 4.56 earnings per share for the current fiscal year.

Community Trust Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Sunday, December 15th will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date is Friday, December 13th. Community Trust Bancorp’s dividend payout ratio is presently 42.73%.

Wall Street Analyst Weigh In

Several research firms have recently commented on CTBI. Piper Sandler reaffirmed an “overweight” rating and issued a $64.00 target price on shares of Community Trust Bancorp in a research report on Friday, November 8th. Raymond James raised Community Trust Bancorp from a “market perform” rating to an “outperform” rating and set a $60.00 price objective on the stock in a report on Friday, October 18th.

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.