New York State Teachers Retirement System Acquires New Stake in Community Trust Bancorp, Inc. (NASDAQ:CTBI)

New York State Teachers Retirement System purchased a new stake in Community Trust Bancorp, Inc. (NASDAQ:CTBI) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,406 shares of the financial services provider’s stock, valued at approximately $75,000.

Several other institutional investors have also modified their holdings of the stock. JPMorgan Chase & Co. boosted its stake in Community Trust Bancorp by 34.9% during the third quarter. JPMorgan Chase & Co. now owns 95,233 shares of the financial services provider’s stock worth $4,729,000 after buying an additional 24,622 shares during the period. Barclays PLC lifted its position 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 worth $2,502,000 after buying an additional 15,832 shares during the last quarter. Kovitz Investment Group Partners LLC purchased a new position in shares of Community Trust Bancorp during the third quarter worth about $786,000. Thrivent Financial for Lutherans lifted its stake in Community Trust Bancorp by 23.9% in the third quarter. Thrivent Financial for Lutherans now owns 80,948 shares of the financial services provider’s stock valued at $4,020,000 after buying an additional 15,619 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Community Trust Bancorp by 95.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 26,620 shares of the financial services provider’s stock worth $1,412,000 after purchasing an additional 13,012 shares during the last quarter. Hedge funds and other institutional investors own 60.20% of the company’s stock.

Community Trust Bancorp Trading Down 0.5 %

Shares of Community Trust Bancorp stock opened at $53.63 on Tuesday. The business has a 50 day moving average price of $53.91 and a 200 day moving average price of $52.91. The company has a market capitalization of $968.45 million, a P/E ratio of 11.63 and a beta of 0.67. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.90 and a quick ratio of 0.90. Community Trust Bancorp, Inc. has a 1 year low of $38.53 and a 1 year high of $61.67.

Community Trust Bancorp (NASDAQ:CTBI) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate 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 earned $1.04 EPS. Sell-side analysts anticipate that Community Trust Bancorp, Inc. will post 5.06 EPS for the current fiscal year.

Community Trust Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Saturday, March 15th will be given a dividend of $0.47 per share. The ex-dividend date is Friday, March 14th. This represents a $1.88 dividend on an annualized basis and a yield of 3.51%. Community Trust Bancorp’s dividend payout ratio (DPR) is 40.78%.

Wall Street Analyst Weigh In

Separately, Piper Sandler reiterated an “overweight” rating and set 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.