SG Americas Securities LLC Invests $109,000 in Community Trust Bancorp, Inc. (NASDAQ:CTBI)

SG Americas Securities LLC bought a new stake in Community Trust Bancorp, Inc. (NASDAQ:CTBI) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,490 shares of the financial services provider’s stock, valued at approximately $109,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Point72 Asset Management L.P. acquired a new position in shares of Community Trust Bancorp in the 2nd quarter worth approximately $26,000. Money Concepts Capital Corp acquired a new position in Community Trust Bancorp during the fourth quarter worth $32,000. Royal Bank of Canada lifted its holdings in shares of Community Trust Bancorp by 84.9% during the second quarter. Royal Bank of Canada now owns 1,622 shares of the financial services provider’s stock valued at $58,000 after acquiring an additional 745 shares during the period. Ensign Peak Advisors Inc acquired a new stake in shares of Community Trust Bancorp in the 3rd quarter valued at $60,000. Finally, Great West Life Assurance Co. Can grew its holdings in shares of Community Trust Bancorp by 49.5% in the 1st quarter. Great West Life Assurance Co. Can now owns 1,896 shares of the financial services provider’s stock worth $81,000 after purchasing an additional 628 shares during the last quarter. Institutional investors and hedge funds own 60.20% of the company’s stock.

Analyst Upgrades and Downgrades

CTBI has been the subject of several analyst reports. Janney Montgomery Scott began coverage on shares of Community Trust Bancorp in a report on Wednesday, March 27th. They set a “buy” rating and a $49.00 price target for the company. Piper Sandler initiated coverage on shares of Community Trust Bancorp in a research note on Friday, February 16th. They issued an “overweight” rating and a $47.00 target price for the company.

Community Trust Bancorp Price Performance

Shares of CTBI stock opened at $41.82 on Friday. Community Trust Bancorp, Inc. has a 52 week low of $32.68 and a 52 week high of $45.74. The stock has a market capitalization of $753.64 million, a PE ratio of 9.70 and a beta of 0.68. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.87 and a current ratio of 0.87. The stock’s fifty day moving average is $40.46 and its 200-day moving average is $40.29.

Community Trust Bancorp (NASDAQ:CTBI) last issued its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $1.04 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.04). The company had revenue of $57.00 million for the quarter, compared to the consensus estimate of $58.00 million. Community Trust Bancorp had a return on equity of 11.52% and a net margin of 22.64%. Equities research analysts expect that Community Trust Bancorp, Inc. will post 4.09 EPS for the current fiscal year.

Community Trust Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 4.40%. This is a positive change from Community Trust Bancorp’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, March 14th. Community Trust Bancorp’s dividend payout ratio is presently 42.69%.

Insider Activity

In related news, CEO Mark A. Gooch acquired 856 shares of the company’s stock in a transaction that occurred on Wednesday, January 24th. The stock was purchased at an average price of $41.68 per share, for a total transaction of $35,678.08. Following the transaction, the chief executive officer now directly owns 27,191 shares of the company’s stock, valued at approximately $1,133,320.88. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Franky Minnifield purchased 2,000 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were acquired at an average price of $39.28 per share, with a total value of $78,560.00. Following the completion of the purchase, the director now directly owns 14,401 shares of the company’s stock, valued at approximately $565,671.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark A. Gooch purchased 856 shares of the firm’s stock in a transaction that occurred on Wednesday, January 24th. The stock was purchased at an average price of $41.68 per share, for a total transaction of $35,678.08. Following the acquisition, the chief executive officer now owns 27,191 shares of the company’s stock, valued at $1,133,320.88. The disclosure for this purchase can be found here. Insiders have purchased 5,117 shares of company stock valued at $207,283 over the last three months. 4.30% of the stock is owned by insiders.

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.