7,320 Shares in Community Trust Bancorp, Inc. $CTBI Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd bought a new stake in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 7,320 shares of the financial services provider’s stock, valued at approximately $387,000.

Other hedge funds also recently made changes to their positions in the company. D.A. Davidson & CO. bought a new position in Community Trust Bancorp during the second quarter valued at about $326,000. Equitable Trust Co. boosted its stake in Community Trust Bancorp by 3.4% in the second quarter. Equitable Trust Co. now owns 5,930 shares of the financial services provider’s stock valued at $314,000 after acquiring an additional 193 shares during the last quarter. CWM LLC grew its position in shares of Community Trust Bancorp by 13.5% during the 2nd quarter. CWM LLC now owns 3,990 shares of the financial services provider’s stock valued at $211,000 after acquiring an additional 474 shares during the period. SummerHaven Investment Management LLC increased its stake in shares of Community Trust Bancorp by 1.6% during the 2nd quarter. SummerHaven Investment Management LLC now owns 18,571 shares of the financial services provider’s stock worth $983,000 after purchasing an additional 293 shares during the last quarter. Finally, BTC Capital Management Inc. increased its stake in shares of Community Trust Bancorp by 3.4% during the 2nd quarter. BTC Capital Management Inc. now owns 7,811 shares of the financial services provider’s stock worth $412,000 after purchasing an additional 259 shares during the last quarter. 60.20% of the stock is currently owned by institutional investors.

Community Trust Bancorp Trading Up 1.0%

Shares of CTBI stock opened at $52.98 on Friday. The stock has a market capitalization of $959.52 million, a price-to-earnings ratio of 10.25 and a beta of 0.60. The company’s fifty day simple moving average is $54.92 and its two-hundred day simple moving average is $53.85. Community Trust Bancorp, Inc. has a 1 year low of $44.60 and a 1 year high of $61.67. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.93 and a quick ratio of 0.93.

Community Trust Bancorp (NASDAQ:CTBI) last announced its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $1.32 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.06). Community Trust Bancorp had a net margin of 23.24% and a return on equity of 11.91%. The company had revenue of $71.50 million during the quarter, compared to analysts’ expectations of $71.85 million. As a group, analysts anticipate that Community Trust Bancorp, Inc. will post 5.06 earnings per share for the current year.

Community Trust Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 15th will be given a dividend of $0.53 per share. The ex-dividend date is Monday, December 15th. This represents a $2.12 annualized dividend and a dividend yield of 4.0%. Community Trust Bancorp’s dividend payout ratio is currently 41.01%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CTBI. Weiss Ratings reissued a “buy (b-)” rating on shares of Community Trust Bancorp in a report on Thursday, October 30th. Raymond James Financial set a $61.00 price target on Community Trust Bancorp in a research report on Wednesday, October 15th. Finally, Piper Sandler started coverage on Community Trust Bancorp in a research note on Monday, August 18th. They set an “overweight” rating and a $66.00 price target for the company. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Community Trust Bancorp currently has an average rating of “Buy” and a consensus price target of $63.50.

Insider Activity

In other news, EVP Andy D. Waters sold 918 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $56.18, for a total value of $51,573.24. Following the sale, the executive vice president directly owned 632 shares of the company’s stock, valued at approximately $35,505.76. This represents a 59.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 4.30% of the company’s stock.

About Community Trust Bancorp

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.