7,334 Shares in Community Trust Bancorp, Inc. $CTBI Purchased by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio bought a new stake in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 7,334 shares of the financial services provider’s stock, valued at approximately $531,000.

Several other institutional investors also recently bought and sold shares of the company. Thrivent Financial for Lutherans lifted its position in shares of Community Trust Bancorp by 0.3% during the fourth quarter. Thrivent Financial for Lutherans now owns 55,617 shares of the financial services provider’s stock worth $3,143,000 after purchasing an additional 163 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in shares of Community Trust Bancorp by 7.6% in the second quarter. CANADA LIFE ASSURANCE Co now owns 2,958 shares of the financial services provider’s stock valued at $156,000 after purchasing an additional 208 shares in the last quarter. BTC Capital Management Inc. grew its holdings in shares of Community Trust Bancorp by 4.0% in the first quarter. BTC Capital Management Inc. now owns 9,139 shares of the financial services provider’s stock valued at $555,000 after purchasing an additional 350 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Community Trust Bancorp by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,122 shares of the financial services provider’s stock worth $459,000 after buying an additional 381 shares during the period. Finally, Franklin Resources Inc. increased its stake in Community Trust Bancorp by 4.5% during the 4th quarter. Franklin Resources Inc. now owns 10,496 shares of the financial services provider’s stock worth $593,000 after buying an additional 452 shares during the period. 60.20% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CTBI shares. Raymond James Financial initiated coverage on shares of Community Trust Bancorp in a report on Tuesday, September 1st. They set an “outperform” rating and a $82.00 target price on the stock. Zacks Research lowered Community Trust Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. Weiss Ratings upgraded Community Trust Bancorp from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Thursday, August 13th. Finally, Piper Sandler lifted their target price on Community Trust Bancorp from $76.00 to $81.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Community Trust Bancorp presently has an average rating of “Moderate Buy” and an average target price of $81.50.

Insider Activity at Community Trust Bancorp

In related news, Director Franky Minnifield sold 3,900 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $78.85, for a total value of $307,515.00. Following the transaction, the director owned 8,320 shares of the company’s stock, valued at $656,032. This represents a 31.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 2.60% of the company’s stock.

Community Trust Bancorp Stock Up 1.2%

Shares of NASDAQ:CTBI opened at $77.37 on Friday. The firm’s 50 day moving average price is $76.28 and its 200 day moving average price is $68.87. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of 12.96 and a beta of 0.52. Community Trust Bancorp, Inc. has a fifty-two week low of $50.25 and a fifty-two week high of $79.92. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.08.

Community Trust Bancorp (NASDAQ:CTBI) last posted its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $1.64 EPS for the quarter, topping the consensus estimate 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 company had revenue of $78.49 million during the quarter, compared to analysts’ expectations of $76.85 million. As a group, equities research analysts predict that Community Trust Bancorp, Inc. will post 6.41 earnings per share for the current fiscal year.

Community Trust Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.65 per share. This is an increase from Community Trust Bancorp’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $2.60 annualized dividend and a dividend yield of 3.4%. Community Trust Bancorp’s dividend payout ratio is presently 35.51%.

Community Trust Bancorp Profile

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.