Connor Clark & Lunn Investment Management Ltd. Buys New Shares in Community Trust Bancorp, Inc. $CTBI

Connor Clark & Lunn Investment Management Ltd. bought a new position in Community Trust Bancorp, Inc. (NASDAQ:CTBI) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 69,535 shares of the financial services provider’s stock, valued at approximately $5,032,000. Connor Clark & Lunn Investment Management Ltd. owned 0.38% of Community Trust Bancorp as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Garton & Associates Financial Advisors LLC bought a new stake in Community Trust Bancorp during the fourth quarter valued at about $30,000. Quantbot Technologies LP bought a new position in shares of Community Trust Bancorp in the second quarter worth about $40,000. Quadrant Capital Group LLC purchased a new stake in shares of Community Trust Bancorp during the third quarter worth about $86,000. Strs Ohio purchased a new stake in shares of Community Trust Bancorp during the first quarter worth about $86,000. Finally, Russell Investments Group Ltd. raised its stake in Community Trust Bancorp by 478.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,650 shares of the financial services provider’s stock valued at $92,000 after purchasing an additional 1,365 shares during the period. Hedge funds and other institutional investors own 60.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CTBI shares. Zacks Research cut Community Trust Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 16th. Piper Sandler increased their price objective on shares of Community Trust Bancorp from $76.00 to $81.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Weiss Ratings upgraded shares of Community Trust Bancorp from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Thursday, August 13th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $82.00 target price on shares of Community Trust Bancorp in a report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.50.

Insiders Place Their Bets

In other news, Director Franky Minnifield sold 3,900 shares of the stock in a transaction on Friday, August 14th. The shares were sold at an average price of $78.85, for a total value of $307,515.00. Following the sale, the director owned 8,320 shares of the company’s stock, valued at approximately $656,032. This represents a 31.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.60% of the stock is owned by company insiders.

Community Trust Bancorp Stock Up 0.1%

Shares of NASDAQ CTBI opened at $76.30 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.08. Community Trust Bancorp, Inc. has a 12-month low of $50.25 and a 12-month high of $79.92. The firm’s 50-day moving average price is $75.16 and its 200-day moving average price is $67.93. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 12.78 and a beta of 0.53.

Community Trust Bancorp (NASDAQ:CTBI) last released its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $1.64 EPS for the quarter, topping the consensus estimate of $1.52 by $0.12. Community Trust Bancorp had a return on equity of 12.52% and a net margin of 25.55%.The company had revenue of $78.49 million during the quarter, compared to analyst estimates of $76.85 million. On average, equities research analysts anticipate that Community Trust Bancorp, Inc. will post 6.41 EPS for the current fiscal year.

Community Trust Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 3.4%. This is a positive change from Community Trust Bancorp’s previous quarterly dividend of $0.53. The ex-dividend date is Tuesday, September 15th. Community Trust Bancorp’s dividend payout ratio (DPR) is presently 35.51%.

Community Trust Bancorp Company Profile

Community Trust Bancorp, Inc is a bank holding company headquartered in Pikeville, Kentucky. As the parent of Community Trust Bank, the company provides a comprehensive range of banking services to individuals, families and businesses throughout eastern Kentucky, southern West Virginia and northeast Tennessee. With origins dating back to the early 20th century, the organization has built a reputation for supporting community development and regional economic growth across the Appalachian region.

The company’s personal banking offerings include checking and savings accounts, consumer installment loans, home equity and mortgage lending, as well as online and mobile banking platforms.