LSV Asset Management Trims Position in Community Trust Bancorp, Inc. $CTBI

LSV Asset Management decreased its position in Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 3.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 238,927 shares of the financial services provider’s stock after selling 8,500 shares during the quarter. LSV Asset Management’s holdings in Community Trust Bancorp were worth $12,644,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Creative Planning lifted its stake in shares of Community Trust Bancorp by 6.0% in the 2nd quarter. Creative Planning now owns 16,819 shares of the financial services provider’s stock worth $890,000 after purchasing an additional 947 shares during the period. Police & Firemen s Retirement System of New Jersey increased its holdings in Community Trust Bancorp by 17.0% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 3,630 shares of the financial services provider’s stock valued at $192,000 after buying an additional 527 shares during the last quarter. Geode Capital Management LLC raised its position in Community Trust Bancorp by 4.6% in the second quarter. Geode Capital Management LLC now owns 413,312 shares of the financial services provider’s stock worth $21,872,000 after acquiring an additional 17,995 shares during the period. ProShare Advisors LLC purchased a new position in shares of Community Trust Bancorp during the 2nd quarter worth $6,378,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Community Trust Bancorp by 28.8% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 51,377 shares of the financial services provider’s stock valued at $2,719,000 after acquiring an additional 11,484 shares during the period. 60.20% of the stock is currently owned by institutional investors.

Community Trust Bancorp Trading Up 1.1%

Shares of Community Trust Bancorp stock opened at $53.39 on Thursday. Community Trust Bancorp, Inc. has a fifty-two week low of $44.60 and a fifty-two week high of $61.67. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market capitalization of $967.21 million, a P/E ratio of 10.33 and a beta of 0.60. The company has a fifty day moving average of $54.20 and a 200 day moving average of $54.13.

Community Trust Bancorp (NASDAQ:CTBI) last posted its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $1.32 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.06). The business had revenue of $71.50 million for the quarter, compared to the consensus estimate of $71.85 million. Community Trust Bancorp had a net margin of 23.24% and a return on equity of 11.91%. On average, sell-side analysts anticipate that Community Trust Bancorp, Inc. will post 5.06 earnings per share for the current fiscal year.

Community Trust Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 15th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $2.12 dividend on an annualized basis and a yield of 4.0%. Community Trust Bancorp’s payout ratio is currently 41.01%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Raymond James Financial set a $61.00 target price on Community Trust Bancorp in a report on Wednesday, October 15th. Piper Sandler initiated coverage on Community Trust Bancorp in a research note on Monday, August 18th. They issued an “overweight” rating and a $66.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Community Trust Bancorp in a research report on Thursday, October 30th. Three analysts have rated the stock with a Buy rating, According to MarketBeat.com, Community Trust Bancorp has an average rating of “Buy” and a consensus target price of $63.50.

Community Trust Bancorp 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.