Community Trust Bancorp, Inc. (NASDAQ:CTBI) Shares Sold by Merit Financial Group LLC

Merit Financial Group LLC lessened its stake in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 5.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 4,913 shares of the financial services provider’s stock after selling 304 shares during the period. Merit Financial Group LLC’s holdings in Community Trust Bancorp were worth $247,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. BTC Capital Management Inc. lifted its position in shares of Community Trust Bancorp by 3.9% during the 1st quarter. BTC Capital Management Inc. now owns 7,552 shares of the financial services provider’s stock valued at $380,000 after acquiring an additional 282 shares during the last quarter. GAMMA Investing LLC lifted its stake in Community Trust Bancorp by 3,898.5% during the first quarter. GAMMA Investing LLC now owns 2,719 shares of the financial services provider’s stock valued at $137,000 after buying an additional 2,651 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Community Trust Bancorp by 51.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,454 shares of the financial services provider’s stock valued at $926,000 after buying an additional 5,929 shares in the last quarter. Virtus Investment Advisers Inc. purchased a new stake in Community Trust Bancorp during the fourth quarter valued at about $524,000. Finally, ProShare Advisors LLC purchased a new stake in Community Trust Bancorp during the fourth quarter valued at about $229,000. Institutional investors and hedge funds own 60.20% of the company’s stock.

Insider Transactions at Community Trust Bancorp

In related news, Director Franky Minnifield purchased 2,000 shares of Community Trust Bancorp stock in a transaction dated Monday, June 2nd. The stock was acquired at an average cost of $51.01 per share, with a total value of $102,020.00. Following the completion of the transaction, the director now directly owns 17,099 shares of the company’s stock, valued at $872,219.99. This trade represents a 13.25% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CTBI. Piper Sandler reduced their price objective on shares of Community Trust Bancorp from $60.00 to $56.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Raymond James reduced their price objective on shares of Community Trust Bancorp from $60.00 to $58.00 and set an “outperform” rating for the company in a research note on Wednesday, April 2nd.

Community Trust Bancorp Price Performance

CTBI stock opened at $52.19 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.09. Community Trust Bancorp, Inc. has a one year low of $40.19 and a one year high of $61.67. The firm has a market capitalization of $945.21 million, a PE ratio of 11.32 and a beta of 0.58. The firm has a 50-day moving average of $50.05 and a two-hundred day moving average of $52.56.

Community Trust Bancorp (NASDAQ:CTBI) last posted its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.03. The business had revenue of $66.16 million during the quarter, compared to analyst estimates of $64.92 million. Community Trust Bancorp had a net margin of 22.02% and a return on equity of 11.36%. During the same period in the prior year, the firm earned $1.04 earnings per share. On average, analysts forecast that Community Trust Bancorp, Inc. will post 5.06 earnings per share for the current year.

Community Trust Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Sunday, June 15th will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date is Friday, June 13th. Community Trust Bancorp’s dividend payout ratio (DPR) is 39.25%.

About Community Trust Bancorp

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.