Code Waechter LLC Sells 1,277 Shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI)

Code Waechter LLC lowered its holdings in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 14.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,278 shares of the financial services provider’s stock after selling 1,277 shares during the period. Code Waechter LLC’s holdings in Community Trust Bancorp were worth $386,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. American Century Companies Inc. boosted its position in shares of Community Trust Bancorp by 20.5% during the 2nd quarter. American Century Companies Inc. now owns 274,759 shares of the financial services provider’s stock valued at $11,996,000 after acquiring an additional 46,745 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Community Trust Bancorp by 1.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,171,419 shares of the financial services provider’s stock worth $51,142,000 after purchasing an additional 12,707 shares during the period. Renaissance Technologies LLC boosted its holdings in Community Trust Bancorp by 0.3% during the second quarter. Renaissance Technologies LLC now owns 143,382 shares of the financial services provider’s stock valued at $6,260,000 after purchasing an additional 500 shares in the last quarter. Stock Yards Bank & Trust Co. bought a new stake in shares of Community Trust Bancorp in the 2nd quarter valued at approximately $439,000. Finally, Hsbc Holdings PLC acquired a new position in shares of Community Trust Bancorp in the 2nd quarter worth approximately $264,000. Institutional investors own 60.20% of the company’s stock.

Community Trust Bancorp Stock Performance

NASDAQ:CTBI opened at $51.05 on Tuesday. The stock has a market capitalization of $921.86 million, a P/E ratio of 11.60 and a beta of 0.67. Community Trust Bancorp, Inc. has a 1 year low of $38.44 and a 1 year high of $61.67. The firm has a 50 day moving average of $56.41 and a 200-day moving average of $51.27. 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 (NASDAQ:CTBI) last posted its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.08. Community Trust Bancorp had a return on equity of 10.93% 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. As a group, sell-side analysts anticipate that Community Trust Bancorp, Inc. will post 4.56 EPS for the current fiscal year.

Community Trust Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Sunday, December 15th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date of this dividend was Friday, December 13th. Community Trust Bancorp’s dividend payout ratio is currently 42.73%.

Analyst Upgrades and Downgrades

CTBI has been the topic of several recent analyst reports. Raymond James raised Community Trust Bancorp from a “market perform” rating to an “outperform” rating and set a $60.00 price target on the stock in a research note on Friday, October 18th. Piper Sandler reaffirmed an “overweight” rating and issued a $64.00 target price on shares of Community Trust Bancorp in a report on Friday, November 8th.

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.