Northern Trust Corp Trims Position in Community Trust Bancorp, Inc. (NASDAQ:CTBI)

Northern Trust Corp trimmed its holdings in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 1.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 355,078 shares of the financial services provider’s stock after selling 4,463 shares during the period. Northern Trust Corp’s holdings in Community Trust Bancorp were worth $18,830,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Dimensional Fund Advisors LP increased its stake in shares of Community Trust Bancorp by 1.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,208,065 shares of the financial services provider’s stock worth $64,064,000 after acquiring an additional 21,008 shares during the period. Geode Capital Management LLC grew its position in Community Trust Bancorp by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 374,544 shares of the financial services provider’s stock worth $19,866,000 after purchasing an additional 1,386 shares during the period. American Century Companies Inc. raised its stake in shares of Community Trust Bancorp by 11.4% during the 4th 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 during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Community Trust Bancorp by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 126,276 shares of the financial services provider’s stock valued at $6,696,000 after buying an additional 904 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Community Trust Bancorp by 25.2% in the fourth quarter. JPMorgan Chase & Co. now owns 119,197 shares of the financial services provider’s stock worth $6,321,000 after buying an additional 23,964 shares during the last quarter. 60.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Raymond James reduced their price target on Community Trust Bancorp from $60.00 to $58.00 and set an “outperform” rating for the company in a research report on Wednesday, April 2nd. Piper Sandler dropped their price objective on shares of 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.

Community Trust Bancorp Stock Up 0.8%

CTBI opened at $52.71 on Wednesday. The company has a fifty day moving average of $49.56 and a two-hundred day moving average of $53.30. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.90 and a current ratio of 0.90. Community Trust Bancorp, Inc. has a fifty-two week low of $40.19 and a fifty-two week high of $61.67. The stock has a market capitalization of $954.16 million, a price-to-earnings ratio of 11.43 and a beta of 0.56.

Community Trust Bancorp (NASDAQ:CTBI) last announced its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.03. The firm 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 quarter in the previous year, the business earned $1.04 EPS. On average, research analysts expect that Community Trust Bancorp, Inc. will post 5.06 earnings per share for the current year.

Community Trust Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Sunday, June 15th will be paid 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 payout ratio is 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.