Community Trust Bancorp, Inc. $CTBI Stake Boosted by Lone Peak Global Investors LLC

Lone Peak Global Investors LLC raised its holdings in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 6.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 300,504 shares of the financial services provider’s stock after purchasing an additional 17,388 shares during the period. Community Trust Bancorp comprises about 3.0% of Lone Peak Global Investors LLC’s portfolio, making the stock its 14th largest holding. Lone Peak Global Investors LLC’s holdings in Community Trust Bancorp were worth $21,744,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of CTBI. Susquehanna Fundamental Investments LLC acquired a new stake in Community Trust Bancorp during the second quarter worth about $390,000. Hsbc Holdings PLC grew its holdings in shares of Community Trust Bancorp by 18.3% during the second quarter. Hsbc Holdings PLC now owns 22,515 shares of the financial services provider’s stock valued at $1,627,000 after purchasing an additional 3,484 shares during the last quarter. Empowered Funds LLC acquired a new stake in shares of Community Trust Bancorp during the 2nd quarter worth approximately $2,203,000. Public Employees Retirement System of Ohio bought a new stake in shares of Community Trust Bancorp in the 2nd quarter worth approximately $531,000. Finally, Bank of America Corp DE bought a new stake in shares of Community Trust Bancorp in the 2nd quarter worth approximately $2,736,000. 60.20% of the stock is owned by institutional investors and hedge funds.

Community Trust Bancorp Stock Performance

CTBI opened at $75.71 on Wednesday. The stock has a 50-day moving average of $75.58 and a 200-day moving average of $68.19. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.94 and a current ratio of 0.94. Community Trust Bancorp, Inc. has a 52-week low of $50.25 and a 52-week high of $79.92. The company has a market cap of $1.38 billion, a PE ratio of 12.68 and a beta of 0.52.

Community Trust Bancorp (NASDAQ:CTBI) last announced its 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. The firm had revenue of $78.49 million for the quarter, compared to the consensus estimate of $76.85 million. Community Trust Bancorp had a net margin of 25.55% and a return on equity of 12.52%. As a group, equities research analysts forecast that Community Trust Bancorp, Inc. will post 6.41 earnings per share for the current fiscal year.

Community Trust Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be issued a $0.65 dividend. This is an increase from Community Trust Bancorp’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $2.60 dividend on an annualized basis and a yield of 3.4%. Community Trust Bancorp’s payout ratio is 35.51%.

Insider Buying and Selling

In other news, Director Franky Minnifield sold 3,900 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $78.85, for a total transaction of $307,515.00. Following the completion of the transaction, the director directly owned 8,320 shares in the company, valued at $656,032. The trade was a 31.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have commented on CTBI shares. Zacks Research cut shares of Community Trust Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. Piper Sandler lifted their price objective on shares of Community Trust Bancorp from $76.00 to $81.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Weiss Ratings raised shares of Community Trust Bancorp from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Thursday, August 13th. Finally, Raymond James Financial initiated coverage on Community Trust Bancorp in a research report on Tuesday. They set an “outperform” rating for the company. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Community Trust Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $81.50.

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.