Community Trust Bancorp, Inc. (NASDAQ:CTBI) Holdings Decreased by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. reduced its stake in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 31.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,615 shares of the financial services provider’s stock after selling 3,526 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Community Trust Bancorp were worth $404,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CTBI. Quantbot Technologies LP bought a new position in shares of Community Trust Bancorp in the third quarter worth $63,000. Coastline Trust Co purchased a new stake in Community Trust Bancorp in the 3rd quarter worth about $79,000. CWM LLC lifted its stake in Community Trust Bancorp by 12.2% in the 3rd quarter. CWM LLC now owns 2,918 shares of the financial services provider’s stock worth $145,000 after acquiring an additional 317 shares in the last quarter. SG Americas Securities LLC acquired a new position in Community Trust Bancorp in the 3rd quarter worth about $209,000. Finally, BNP Paribas Financial Markets increased its position 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 worth $213,000 after purchasing an additional 1,079 shares during the last quarter. 60.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on CTBI. Piper Sandler reissued an “overweight” rating and set a $64.00 price objective on shares of Community Trust Bancorp in a report on Friday, November 8th. Raymond James upgraded Community Trust Bancorp from a “market perform” rating to an “outperform” rating and set a $60.00 target price for the company in a research note on Friday, October 18th.

Community Trust Bancorp Price Performance

Community Trust Bancorp stock opened at $54.07 on Wednesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market capitalization of $976.50 million, a PE ratio of 11.73 and a beta of 0.67. Community Trust Bancorp, Inc. has a one year low of $38.44 and a one year high of $61.67. The business has a 50 day simple moving average of $55.99 and a 200 day simple moving average of $51.64.

Community Trust Bancorp (NASDAQ:CTBI) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.05. Community Trust Bancorp had a return on equity of 11.36% and a net margin of 22.02%. During the same quarter in the previous year, the business posted $1.04 earnings per share. On average, sell-side analysts forecast that Community Trust Bancorp, Inc. will post 5.06 EPS for the current fiscal year.

About Community Trust Bancorp

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.