Hennion & Walsh Asset Management Inc. Reduces Position in Community Trust Bancorp, Inc. (NASDAQ:CTBI)

Hennion & Walsh Asset Management Inc. lowered its holdings in Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 2.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,141 shares of the financial services provider’s stock after selling 287 shares during the period. Hennion & Walsh Asset Management Inc. owned about 0.06% of Community Trust Bancorp worth $553,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of CTBI. Dimensional Fund Advisors LP grew its holdings in Community Trust Bancorp by 1.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,171,419 shares of the financial services provider’s stock worth $51,142,000 after acquiring an additional 12,707 shares in the last quarter. Vanguard Group Inc. grew its stake in Community Trust Bancorp by 1.2% in the first quarter. Vanguard Group Inc. now owns 894,527 shares of the financial services provider’s stock worth $38,152,000 after purchasing an additional 11,043 shares in the last quarter. Clifford Capital Partners LLC increased its holdings in Community Trust Bancorp by 7.8% in 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 buying an additional 23,564 shares during the last quarter. LSV Asset Management raised its stake in Community Trust Bancorp by 9.0% during the first quarter. LSV Asset Management now owns 290,157 shares of the financial services provider’s stock valued at $12,375,000 after buying an additional 23,890 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in 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 worth $11,996,000 after buying an additional 46,745 shares during the last quarter. Institutional investors and hedge funds own 60.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, 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 report on Friday, October 18th.

Community Trust Bancorp Price Performance

Shares of NASDAQ:CTBI opened at $52.42 on Tuesday. The company has a market cap of $946.18 million, a PE ratio of 11.91 and a beta of 0.64. Community Trust Bancorp, Inc. has a fifty-two week low of $36.92 and a fifty-two week high of $53.50. The firm has a 50-day simple moving average of $49.35 and a 200 day simple moving average of $45.83. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.09.

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

Community Trust Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Sunday, December 15th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date is Friday, December 13th. Community Trust Bancorp’s payout ratio is 42.73%.

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.