Community Trust Bancorp (NASDAQ:CTBI) Sees Unusually-High Trading Volume

Shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI – Get Rating) saw unusually-strong trading volume on Friday . Approximately 39,226 shares changed hands during mid-day trading, a decline of 28% from the previous session’s volume of 54,687 shares.The stock last traded at $40.00 and had previously closed at $40.28.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on Community Trust Bancorp in a report on Thursday. They issued a “hold” rating on the stock.

Community Trust Bancorp Stock Down 2.3 %

The firm has a market cap of $707.51 million, a P/E ratio of 8.57 and a beta of 0.70. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.10. The firm has a fifty day moving average of $43.05 and a 200-day moving average of $44.15.

Community Trust Bancorp (NASDAQ:CTBI – Get Rating) last released its earnings results on Wednesday, January 18th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.03. Community Trust Bancorp had a return on equity of 13.01% and a net margin of 32.00%. The business had revenue of $58.76 million for the quarter, compared to analyst estimates of $59.55 million. On average, equities research analysts anticipate that Community Trust Bancorp, Inc. will post 4.49 earnings per share for the current year.

Community Trust Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, April 1st. Investors of record on Wednesday, March 15th will be issued a dividend of $0.44 per share. The ex-dividend date is Tuesday, March 14th. This represents a $1.76 annualized dividend and a yield of 4.47%. Community Trust Bancorp’s payout ratio is presently 38.34%.

Insiders Place Their Bets

In other Community Trust Bancorp news, Director Franky Minnifield purchased 2,000 shares of the stock in a transaction on Monday, January 30th. The shares were purchased at an average price of $42.00 per share, with a total value of $84,000.00. Following the completion of the transaction, the director now directly owns 10,091 shares in the company, valued at $423,822. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have acquired a total of 3,000 shares of company stock valued at $124,845 over the last 90 days. 4.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Community Trust Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in the company. Equitable Trust Co. acquired a new position in shares of Community Trust Bancorp in the fourth quarter valued at approximately $247,000. Truist Financial Corp acquired a new position in shares of Community Trust Bancorp in the fourth quarter valued at approximately $591,000. Alliancebernstein L.P. grew its position in shares of Community Trust Bancorp by 4.8% in the fourth quarter. Alliancebernstein L.P. now owns 86,613 shares of the financial services provider’s stock valued at $3,978,000 after purchasing an additional 4,000 shares during the last quarter. Squarepoint Ops LLC acquired a new position in shares of Community Trust Bancorp in the fourth quarter valued at approximately $247,000. Finally, Legal & General Group Plc grew its position in shares of Community Trust Bancorp by 6.8% in the fourth quarter. Legal & General Group Plc now owns 12,037 shares of the financial services provider’s stock valued at $553,000 after purchasing an additional 769 shares during the last quarter. Institutional investors and hedge funds own 57.90% of the company’s stock.

Community Trust Bancorp Company Profile

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Community Trust Bancorp, Inc is a bank holding company, which engages in the provision of community banking services through its subsidiary Community Trust Bank, Inc It offers commercial & personal banking and trust and wealth management activities, which include accepting time and demand deposits, making secured and unsecured loans to corporations, individuals and others, providing cash management services to corporate and individual customers, issuing letters of credit, renting safe deposit boxes, and providing funds transfer services.