Lazard Asset Management LLC Takes $1.55 Million Position in Community Trust Bancorp, Inc. $CTBI

Lazard Asset Management LLC bought a new position in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 25,614 shares of the financial services provider’s stock, valued at approximately $1,555,000. Lazard Asset Management LLC owned 0.14% of Community Trust Bancorp at the end of the most recent quarter.

Several other large investors also recently modified their holdings of CTBI. Assetmark Inc. purchased a new position in Community Trust Bancorp during the 4th quarter valued at about $27,000. Garton & Associates Financial Advisors LLC purchased a new stake in Community Trust Bancorp in the 4th quarter worth approximately $30,000. Quadrant Capital Group LLC purchased a new stake in Community Trust Bancorp in the 3rd quarter worth approximately $86,000. Strs Ohio bought a new stake in shares of Community Trust Bancorp in the 1st quarter worth approximately $86,000. Finally, Russell Investments Group Ltd. grew its position in shares of Community Trust Bancorp by 478.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,650 shares of the financial services provider’s stock worth $92,000 after buying an additional 1,365 shares during the last quarter. 60.20% of the stock is owned by institutional investors.

Community Trust Bancorp Stock Performance

Community Trust Bancorp stock opened at $79.47 on Wednesday. Community Trust Bancorp, Inc. has a fifty-two week low of $50.25 and a fifty-two week high of $79.92. The stock’s 50 day simple moving average is $71.95 and its two-hundred day simple moving average is $66.07. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 13.31 and a beta of 0.53.

Community Trust Bancorp (NASDAQ:CTBI) last announced its earnings results on Wednesday, July 15th. The financial services provider reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.12. The firm had revenue of $78.49 million during the quarter, compared to analyst estimates of $76.85 million. Community Trust Bancorp had a return on equity of 12.66% and a net margin of 25.55%. As a group, analysts expect that Community Trust Bancorp, Inc. will post 6.41 earnings per share for the current fiscal year.

Community Trust Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be paid a $0.65 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This is a positive change from Community Trust Bancorp’s previous quarterly dividend of $0.53. This represents a $2.60 annualized dividend and a yield of 3.3%. Community Trust Bancorp’s payout ratio is currently 35.51%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Piper Sandler upped their target price on Community Trust Bancorp from $76.00 to $81.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Raymond James Financial reiterated an “outperform” rating and issued a $82.00 price target on shares of Community Trust Bancorp in a report on Thursday, July 16th. Weiss Ratings downgraded shares of Community Trust Bancorp from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday. Finally, Zacks Research lowered shares of Community Trust Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 16th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.