Equitable Trust Co. Sells 2,117 Shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI)

Equitable Trust Co. cut its holdings in Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 24.9% during the third quarter, HoldingsChannel reports. The firm owned 6,395 shares of the financial services provider’s stock after selling 2,117 shares during the period. Equitable Trust Co.’s holdings in Community Trust Bancorp were worth $318,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Dimensional Fund Advisors LP increased its stake in shares of Community Trust Bancorp by 1.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,171,419 shares of the financial services provider’s stock worth $51,142,000 after purchasing an additional 12,707 shares during the period. Vanguard Group Inc. grew its position in Community Trust Bancorp by 1.2% during the first quarter. Vanguard Group Inc. now owns 894,527 shares of the financial services provider’s stock worth $38,152,000 after buying an additional 11,043 shares in the last quarter. Clifford Capital Partners LLC grew its position in Community Trust Bancorp by 7.8% during the second quarter. Clifford Capital Partners LLC now owns 324,515 shares of the financial services provider’s stock worth $14,168,000 after buying an additional 23,564 shares in the last quarter. American Century Companies Inc. grew its position in Community Trust Bancorp by 20.5% during the second quarter. American Century Companies Inc. now owns 274,759 shares of the financial services provider’s stock worth $11,996,000 after buying an additional 46,745 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in Community Trust Bancorp by 37.8% during the second quarter. AQR Capital Management LLC now owns 188,707 shares of the financial services provider’s stock worth $8,239,000 after buying an additional 51,765 shares in the last quarter. 60.20% of the stock is currently owned by institutional investors.

Community Trust Bancorp Stock Up 1.5 %

NASDAQ CTBI opened at $57.75 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09. The stock’s 50 day moving average is $50.35 and its two-hundred day moving average is $46.75. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of 13.13 and a beta of 0.63. Community Trust Bancorp, Inc. has a 1-year low of $38.43 and a 1-year high of $61.20.

Community Trust Bancorp (NASDAQ:CTBI) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.08. The company had revenue of $95.38 million for the quarter, compared to the consensus estimate of $62.00 million. Community Trust Bancorp had a return on equity of 11.13% and a net margin of 21.64%. Equities analysts forecast that Community Trust Bancorp, Inc. will post 4.55 earnings per share for the current fiscal year.

Community Trust Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Sunday, December 15th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date is Friday, December 13th. Community Trust Bancorp’s payout ratio is 42.73%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Piper Sandler reissued an “overweight” rating and set a $64.00 target price on shares of Community Trust Bancorp in a research report on Friday. Raymond James raised Community Trust Bancorp from a “market perform” rating to an “outperform” rating and set a $60.00 target price on the stock in a research report on Friday, October 18th.

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.