Prudential Financial Inc. trimmed its stake in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 2.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 166,842 shares of the financial services provider’s stock after selling 4,020 shares during the period. Prudential Financial Inc.’s holdings in Community Trust Bancorp were worth $7,056,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Bank of America Corp DE lifted its stake in Community Trust Bancorp by 29.2% in the 4th quarter. Bank of America Corp DE now owns 13,566 shares of the financial services provider’s stock worth $537,000 after purchasing an additional 3,063 shares in the last quarter. BNP Paribas Arbitrage SA lifted its position in shares of Community Trust Bancorp by 241.4% in the first quarter. BNP Paribas Arbitrage SA now owns 3,236 shares of the financial services provider’s stock worth $133,000 after buying an additional 2,288 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Community Trust Bancorp in the first quarter worth about $169,000. Systematic Financial Management LP lifted its position in shares of Community Trust Bancorp by 8.8% in the first quarter. Systematic Financial Management LP now owns 20,445 shares of the financial services provider’s stock worth $839,000 after buying an additional 1,645 shares in the last quarter. Finally, Raymond James & Associates boosted its stake in Community Trust Bancorp by 12.0% during the first quarter. Raymond James & Associates now owns 64,196 shares of the financial services provider’s stock valued at $2,636,000 after buying an additional 6,870 shares during the last quarter. Institutional investors own 57.38% of the company’s stock.
CTBI traded up $0.57 during trading hours on Wednesday, hitting $41.65. The company’s stock had a trading volume of 711 shares, compared to its average volume of 30,273. The business’s 50-day moving average price is $40.20 and its 200-day moving average price is $41.17. Community Trust Bancorp, Inc. has a 12 month low of $35.70 and a 12 month high of $48.60. The stock has a market cap of $718.02 million, a price-to-earnings ratio of 12.38 and a beta of 0.68. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.13.
Community Trust Bancorp (NASDAQ:CTBI) last released its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.18. Community Trust Bancorp had a net margin of 28.19% and a return on equity of 11.38%. The company had revenue of $48.28 million for the quarter, compared to the consensus estimate of $48.98 million. On average, analysts forecast that Community Trust Bancorp, Inc. will post 3.43 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Sunday, September 15th will be issued a $0.38 dividend. The ex-dividend date is Thursday, September 12th. This is an increase from Community Trust Bancorp’s previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.65%. Community Trust Bancorp’s payout ratio is 42.99%.
In other Community Trust Bancorp news, Director Franky Minnifield bought 1,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were purchased at an average cost of $39.33 per share, for a total transaction of $39,330.00. Following the transaction, the director now owns 4,940 shares of the company’s stock, valued at $194,290.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 4.90% of the company’s stock.
Several equities analysts have weighed in on CTBI shares. BidaskClub cut Community Trust Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, August 27th. Zacks Investment Research cut Community Trust Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, September 4th.
Community Trust Bancorp Company Profile
Community Trust Bancorp, Inc operates as the bank holding company for Community Trust Bank, Inc that provides commercial and personal banking services to small and mid-sized communities. The company accepts time and demand deposits, Keogh plans, and savings certificates, as well as checking and savings, regular, individual retirement, NOW, and money market accounts.
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