Jacobs Levy Equity Management Inc. Boosts Stake in Community Trust Bancorp, Inc. (NASDAQ:CTBI)

Jacobs Levy Equity Management Inc. lifted its holdings in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 1.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 45,683 shares of the financial services provider’s stock after purchasing an additional 782 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Community Trust Bancorp were worth $2,423,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CTBI. US Bancorp DE boosted its stake in Community Trust Bancorp by 311.8% during the fourth quarter. US Bancorp DE now owns 560 shares of the financial services provider’s stock worth $30,000 after buying an additional 424 shares during the period. Federated Hermes Inc. purchased a new stake in shares of Community Trust Bancorp in the 4th quarter valued at approximately $46,000. New York State Teachers Retirement System acquired a new position in shares of Community Trust Bancorp in the 4th quarter worth approximately $75,000. Quantbot Technologies LP boosted its position in shares of Community Trust Bancorp by 43.5% during the 4th quarter. Quantbot Technologies LP now owns 1,824 shares of the financial services provider’s stock worth $97,000 after purchasing an additional 553 shares during the period. Finally, Tower Research Capital LLC TRC increased its holdings in Community Trust Bancorp by 317.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,824 shares of the financial services provider’s stock valued at $97,000 after purchasing an additional 1,387 shares during the last quarter. 60.20% of the stock is owned by institutional investors and hedge funds.

Community Trust Bancorp Stock Up 0.9%

Community Trust Bancorp stock opened at $53.14 on Friday. The firm has a market capitalization of $961.94 million, a P/E ratio of 11.53 and a beta of 0.56. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.09. Community Trust Bancorp, Inc. has a twelve month low of $40.19 and a twelve month high of $61.67. The stock’s fifty day simple moving average is $49.63 and its 200-day simple moving average is $53.30.

Community Trust Bancorp (NASDAQ:CTBI) last released its earnings results on Wednesday, April 16th. The financial services provider reported $1.22 EPS for the quarter, topping the consensus estimate of $1.19 by $0.03. The firm had revenue of $66.16 million during the quarter, compared to analysts’ expectations 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 previous year, the firm posted $1.04 EPS. As a group, equities analysts expect that Community Trust Bancorp, Inc. will post 5.06 earnings per share for the current fiscal year.

Community Trust Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Sunday, June 15th will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.54%. Community Trust Bancorp’s payout ratio is 39.25%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CTBI shares. Piper Sandler dropped their price objective on Community Trust Bancorp from $60.00 to $56.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Raymond James dropped their target price 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.

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.