The Manufacturers Life Insurance Company Raises Stock Position in Community Trust Bancorp, Inc. (NASDAQ:CTBI)

The Manufacturers Life Insurance Company lifted its stake in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 4.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,112 shares of the financial services provider’s stock after buying an additional 234 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Community Trust Bancorp were worth $267,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. BTC Capital Management Inc. acquired a new position in shares of Community Trust Bancorp in the 1st quarter valued at $348,000. Hennion & Walsh Asset Management Inc. raised its position in Community Trust Bancorp by 12.8% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 12,015 shares of the financial services provider’s stock valued at $512,000 after purchasing an additional 1,367 shares during the last quarter. BNP Paribas Financial Markets raised its position in Community Trust Bancorp by 86.9% in the 1st quarter. BNP Paribas Financial Markets now owns 7,691 shares of the financial services provider’s stock valued at $328,000 after purchasing an additional 3,577 shares during the last quarter. LSV Asset Management raised its position in Community Trust Bancorp by 9.0% in the 1st quarter. LSV Asset Management now owns 290,157 shares of the financial services provider’s stock valued at $12,375,000 after purchasing an additional 23,890 shares during the last quarter. Finally, Empowered Funds LLC raised its position in Community Trust Bancorp by 8.0% in the 1st quarter. Empowered Funds LLC now owns 56,904 shares of the financial services provider’s stock valued at $2,427,000 after purchasing an additional 4,200 shares during the last quarter. Hedge funds and other institutional investors own 60.20% of the company’s stock.

Community Trust Bancorp Stock Up 1.9 %

CTBI stock opened at $52.48 on Friday. The company has a fifty day moving average price of $48.81 and a 200 day moving average price of $45.39. Community Trust Bancorp, Inc. has a 12 month low of $35.52 and a 12 month high of $53.04. The company has a market cap of $947.26 million, a price-to-earnings ratio of 12.15 and a beta of 0.64. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.88.

Community Trust Bancorp (NASDAQ:CTBI) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.08. The company had revenue of $95.38 million during the quarter, compared to the consensus estimate of $62.00 million. Community Trust Bancorp had a net margin of 21.85% and a return on equity of 11.14%. Sell-side analysts expect that Community Trust Bancorp, Inc. will post 4.39 earnings per share for the current year.

Community Trust Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Sunday, September 15th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.88 dividend on an annualized basis and a yield of 3.58%. This is an increase from Community Trust Bancorp’s previous quarterly dividend of $0.46. Community Trust Bancorp’s dividend payout ratio is presently 43.52%.

Wall Street Analysts Forecast Growth

Separately, Raymond James upgraded shares of Community Trust Bancorp from a “market perform” rating to an “outperform” rating and set a $60.00 price target for the company in a research report on Friday.

Insiders Place Their Bets

In other news, EVP David Andrew Jones acquired 10,000 shares of the business’s stock in a transaction on Monday, July 22nd. The stock was bought at an average price of $32.27 per share, for a total transaction of $322,700.00. Following the transaction, the executive vice president now owns 10,000 shares in the company, valued at $322,700. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.30% of the stock is owned by insiders.

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.