Community Trust Bancorp, Inc. (NASDAQ:CTBI) Shares Sold by Comerica Bank

Comerica Bank decreased its holdings in Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 7.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,894 shares of the financial services provider’s stock after selling 313 shares during the quarter. Comerica Bank’s holdings in Community Trust Bancorp were worth $206,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Hillsdale Investment Management Inc. acquired a new stake in Community Trust Bancorp during the fourth quarter valued at approximately $3,732,000. American Century Companies Inc. raised its stake in Community Trust Bancorp by 11.4% during the fourth quarter. American Century Companies Inc. now owns 350,755 shares of the financial services provider’s stock valued at $18,601,000 after buying an additional 35,777 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Community Trust Bancorp during the fourth quarter valued at approximately $1,860,000. JPMorgan Chase & Co. raised 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 valued at $4,729,000 after buying an additional 24,622 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Community Trust Bancorp by 1.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,208,065 shares of the financial services provider’s stock valued at $64,064,000 after buying an additional 21,008 shares in the last quarter. Institutional investors and hedge funds own 60.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Piper Sandler cut their price objective on Community Trust Bancorp from $60.00 to $56.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Raymond James cut their price objective on Community Trust Bancorp from $60.00 to $58.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 2nd.

Community Trust Bancorp Trading Down 0.9%

Shares of NASDAQ CTBI opened at $52.65 on Friday. The stock has a market capitalization of $953.54 million, a P/E ratio of 11.42 and a beta of 0.56. The stock’s 50 day moving average price is $49.67 and its two-hundred day moving average price is $53.31. Community Trust Bancorp, Inc. has a 52-week low of $40.19 and a 52-week high of $61.67. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.09.

Community Trust Bancorp (NASDAQ:CTBI) last posted its earnings results on Wednesday, April 16th. The financial services provider reported $1.22 EPS for the quarter, beating the consensus estimate of $1.19 by $0.03. The company had revenue of $66.16 million during the quarter, compared to analyst estimates of $64.92 million. Community Trust Bancorp had a return on equity of 11.36% and a net margin of 22.02%. During the same period in the prior year, the company earned $1.04 earnings per share. On average, analysts anticipate that Community Trust Bancorp, Inc. will post 5.06 earnings per share for the current fiscal year.

Community Trust Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Sunday, June 15th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 3.57%. The ex-dividend date of this dividend is Friday, June 13th. Community Trust Bancorp’s dividend payout ratio (DPR) is presently 39.25%.

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.