ProShare Advisors LLC Acquires New Shares in Community Trust Bancorp, Inc. $CTBI

ProShare Advisors LLC bought a new position in Community Trust Bancorp, Inc. (NASDAQ:CTBI) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 120,526 shares of the financial services provider’s stock, valued at approximately $6,378,000.

Other institutional investors have also recently made changes to their positions in the company. Northern Trust Corp raised its holdings in shares of Community Trust Bancorp by 8.4% during the first quarter. Northern Trust Corp now owns 384,942 shares of the financial services provider’s stock valued at $19,386,000 after purchasing an additional 29,864 shares during the last quarter. Nuveen LLC purchased a new stake in Community Trust Bancorp during the first quarter valued at $5,210,000. Farther Finance Advisors LLC bought a new position in Community Trust Bancorp in the second quarter valued at about $40,000. Hsbc Holdings PLC boosted its position in Community Trust Bancorp by 60.0% in the first quarter. Hsbc Holdings PLC now owns 12,200 shares of the financial services provider’s stock worth $620,000 after purchasing an additional 4,576 shares during the last quarter. Finally, Community Trust & Investment Co. increased its position in shares of Community Trust Bancorp by 3.0% during the 2nd quarter. Community Trust & Investment Co. now owns 1,979,076 shares of the financial services provider’s stock valued at $104,733,000 after purchasing an additional 58,142 shares during the last quarter. Hedge funds and other institutional investors own 60.20% of the company’s stock.

Insider Transactions at Community Trust Bancorp

In other Community Trust Bancorp news, EVP Andy D. Waters sold 918 shares of the company’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $56.18, for a total value of $51,573.24. Following the transaction, the executive vice president owned 632 shares of the company’s stock, valued at $35,505.76. This represents a 59.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.30% of the stock is currently owned by insiders.

Community Trust Bancorp Stock Performance

Shares of NASDAQ CTBI opened at $54.16 on Friday. The stock has a market cap of $980.89 million, a PE ratio of 10.48 and a beta of 0.60. Community Trust Bancorp, Inc. has a 1 year low of $44.60 and a 1 year high of $61.67. The firm has a fifty day moving average price of $54.56 and a 200-day moving average price of $53.99. 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 issued its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $1.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.06). Community Trust Bancorp had a return on equity of 11.91% and a net margin of 23.24%.The business had revenue of $71.50 million during the quarter, compared to analysts’ expectations of $71.85 million. Equities analysts anticipate 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 Friday, January 2nd. Stockholders of record on Monday, December 15th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $2.12 annualized dividend and a dividend yield of 3.9%. Community Trust Bancorp’s dividend payout ratio is currently 41.01%.

Wall Street Analysts Forecast Growth

CTBI has been the topic of a number of research reports. 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 shares of Community Trust Bancorp in a research report on Wednesday, October 15th. Finally, Piper Sandler began coverage on shares of Community Trust Bancorp in a research note on Monday, August 18th. They set an “overweight” rating and a $66.00 price target on the stock. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Community Trust Bancorp currently has an average rating of “Buy” and an average target price of $63.50.

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.