Equitable Trust Co. Has $318,000 Position in Community Trust Bancorp, Inc. (NASDAQ:CTBI)

Equitable Trust Co. lessened its holdings in Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 24.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,395 shares of the financial services provider’s stock after selling 2,117 shares during the period. Equitable Trust Co.’s holdings in Community Trust Bancorp were worth $318,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Thoroughbred Financial Services LLC acquired a new stake in Community Trust Bancorp during the 2nd quarter worth about $2,891,000. Creative Planning purchased a new stake in shares of Community Trust Bancorp in the third quarter worth approximately $498,000. Bank of Montreal Can acquired a new stake in shares of Community Trust Bancorp during the second quarter worth approximately $764,000. Clifford Capital Partners LLC grew its position in Community Trust Bancorp by 7.8% during the second quarter. Clifford Capital Partners LLC now owns 324,515 shares of the financial services provider’s stock valued at $14,168,000 after purchasing an additional 23,564 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Community Trust Bancorp by 1.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,171,419 shares of the financial services provider’s stock valued at $51,142,000 after buying an additional 12,707 shares during the period. Hedge funds and other institutional investors own 60.20% of the company’s stock.

Community Trust Bancorp Price Performance

NASDAQ CTBI opened at $57.75 on Monday. Community Trust Bancorp, Inc. has a fifty-two week low of $38.43 and a fifty-two week high of $61.20. The stock’s 50-day moving average is $50.35 and its two-hundred day moving average is $46.75. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market cap of $1.04 billion, a P/E ratio of 13.13 and a beta of 0.63.

Community Trust Bancorp (NASDAQ:CTBI) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.08. Community Trust Bancorp had a return on equity of 11.13% and a net margin of 21.64%. The company had revenue of $95.38 million for the quarter, compared to analyst estimates of $62.00 million. On average, analysts anticipate that Community Trust Bancorp, Inc. will post 4.55 earnings per share for the current fiscal year.

Community Trust Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Sunday, December 15th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.26%. Community Trust Bancorp’s payout ratio is presently 42.73%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CTBI shares. Piper Sandler reissued an “overweight” rating and set a $64.00 target price on shares of Community Trust Bancorp in a research note on Friday. Raymond James raised shares of Community Trust Bancorp from a “market perform” rating to an “outperform” rating and set a $60.00 target price on the stock in a research report on Friday, October 18th.

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.