JPMorgan Chase & Co. Purchases 24,622 Shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI)

JPMorgan Chase & Co. boosted its position in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 34.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 95,233 shares of the financial services provider’s stock after purchasing an additional 24,622 shares during the quarter. JPMorgan Chase & Co. owned about 0.53% of Community Trust Bancorp worth $4,729,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Franklin Resources Inc. raised its stake in shares of Community Trust Bancorp by 9.7% in the third quarter. Franklin Resources Inc. now owns 10,044 shares of the financial services provider’s stock worth $503,000 after purchasing an additional 889 shares during the last quarter. Geode Capital Management LLC lifted its stake in Community Trust Bancorp by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 373,158 shares of the financial services provider’s stock valued at $18,534,000 after acquiring an additional 6,238 shares during the period. Barclays PLC boosted its holdings in shares of Community Trust Bancorp by 45.8% during the 3rd quarter. Barclays PLC now owns 50,376 shares of the financial services provider’s stock valued at $2,502,000 after acquiring an additional 15,832 shares during the last quarter. Kovitz Investment Group Partners LLC bought a new stake in shares of Community Trust Bancorp in the third quarter worth approximately $786,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of Community Trust Bancorp during the third quarter valued at approximately $282,000. 60.20% of the stock is currently owned by institutional investors.

Community Trust Bancorp Price Performance

Shares of NASDAQ:CTBI opened at $53.80 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $971.63 million, a PE ratio of 12.23 and a beta of 0.67. The firm’s 50 day moving average price is $56.12 and its 200-day moving average price is $51.44. Community Trust Bancorp, Inc. has a twelve month low of $38.44 and a twelve month high of $61.67.

Community Trust Bancorp (NASDAQ:CTBI) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.05. Community Trust Bancorp had a net margin of 21.64% and a return on equity of 10.93%. During the same quarter in the previous year, the company earned $1.04 earnings per share. Equities research analysts expect that Community Trust Bancorp, Inc. will post 4.56 EPS for the current year.

Community Trust Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Sunday, December 15th were issued a $0.47 dividend. The ex-dividend date was Friday, December 13th. This represents a $1.88 dividend on an annualized basis and a yield of 3.49%. Community Trust Bancorp’s dividend payout ratio is currently 42.73%.

Wall Street Analysts Forecast Growth

CTBI has been the topic of several research reports. Raymond James upgraded shares of Community Trust Bancorp from a “market perform” rating to an “outperform” rating and set a $60.00 target price on the stock in a report on Friday, October 18th. Piper Sandler restated an “overweight” rating and issued a $64.00 price target on shares of Community Trust Bancorp in a research note on Friday, November 8th.

Community Trust Bancorp Company 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.