Heartland Advisors Inc. Acquires New Shares in Community Trust Bancorp, Inc. $CTBI

Heartland Advisors Inc. bought a new stake in Community Trust Bancorp, Inc. (NASDAQ:CTBI) during the second quarter, HoldingsChannel.com reports. The firm bought 164,210 shares of the financial services provider’s stock, valued at approximately $11,882,000.

Several other institutional investors have also recently bought and sold shares of the business. Fifth Third Bancorp acquired a new position in Community Trust Bancorp during the 1st quarter worth approximately $844,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Community Trust Bancorp in the 4th quarter valued at approximately $1,892,000. Lazard Asset Management LLC acquired a new stake in Community Trust Bancorp in the first quarter valued at approximately $1,555,000. Y Intercept Hong Kong Ltd acquired a new stake in Community Trust Bancorp in the first quarter valued at approximately $994,000. Finally, Janus Henderson Group PLC grew its stake in shares of Community Trust Bancorp by 114.0% during the first quarter. Janus Henderson Group PLC now owns 192,413 shares of the financial services provider’s stock worth $11,684,000 after buying an additional 102,488 shares during the last quarter. Institutional investors and hedge funds own 60.20% of the company’s stock.

Insider Buying and Selling at Community Trust Bancorp

In related news, Director Franky Minnifield sold 3,900 shares of the business’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $78.85, for a total value of $307,515.00. Following the sale, the director owned 8,320 shares of the company’s stock, valued at $656,032. The trade was a 31.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CTBI. Weiss Ratings upgraded shares of Community Trust Bancorp from a “buy (b+)” rating to a “buy (a-)” rating in a report on Thursday, August 13th. Raymond James Financial reissued an “outperform” rating and set a $82.00 price objective on shares of Community Trust Bancorp in a report on Thursday, July 16th. Piper Sandler boosted their price objective on Community Trust Bancorp from $76.00 to $81.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. Finally, Zacks Research lowered Community Trust Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.50.

Community Trust Bancorp Stock Up 0.4%

Shares of NASDAQ CTBI opened at $76.52 on Friday. The company has a 50 day simple moving average of $74.54 and a 200 day simple moving average of $67.56. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.94 and a quick ratio of 0.94. Community Trust Bancorp, Inc. has a 1 year low of $50.25 and a 1 year high of $79.92. The firm has a market cap of $1.39 billion, a PE ratio of 12.82 and a beta of 0.53.

Community Trust Bancorp (NASDAQ:CTBI) last posted its earnings results on Wednesday, July 15th. The financial services provider reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.12. Community Trust Bancorp had a net margin of 25.55% and a return on equity of 12.52%. The firm had revenue of $78.49 million for the quarter, compared to analyst estimates of $76.85 million. On average, research analysts forecast that Community Trust Bancorp, Inc. will post 6.41 EPS for the current year.

Community Trust Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.4%. This is a boost from Community Trust Bancorp’s previous quarterly dividend of $0.53. The ex-dividend date is Tuesday, September 15th. Community Trust Bancorp’s dividend payout ratio (DPR) is presently 43.55%.

About Community Trust Bancorp

Community Trust Bancorp, Inc is a bank holding company headquartered in Pikeville, Kentucky. As the parent of Community Trust Bank, the company provides a comprehensive range of banking services to individuals, families and businesses throughout eastern Kentucky, southern West Virginia and northeast Tennessee. With origins dating back to the early 20th century, the organization has built a reputation for supporting community development and regional economic growth across the Appalachian region.

The company’s personal banking offerings include checking and savings accounts, consumer installment loans, home equity and mortgage lending, as well as online and mobile banking platforms.