Quantinno Capital Management LP Increases Stake in Community Trust Bancorp, Inc. $CTBI

Quantinno Capital Management LP raised its position in Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 61.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 20,026 shares of the financial services provider’s stock after acquiring an additional 7,622 shares during the period. Quantinno Capital Management LP owned approximately 0.11% of Community Trust Bancorp worth $1,216,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Assetmark Inc. acquired a new position in shares of Community Trust Bancorp during the fourth quarter worth about $27,000. Garton & Associates Financial Advisors LLC acquired a new stake in Community Trust Bancorp in the fourth quarter valued at about $30,000. Quadrant Capital Group LLC acquired a new stake in Community Trust Bancorp in the third quarter valued at about $86,000. Russell Investments Group Ltd. boosted its holdings in Community Trust Bancorp by 478.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,650 shares of the financial services provider’s stock valued at $92,000 after purchasing an additional 1,365 shares in the last quarter. Finally, Strs Ohio purchased a new stake in Community Trust Bancorp in the 1st quarter valued at approximately $86,000. Hedge funds and other institutional investors own 60.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CTBI. Zacks Research cut Community Trust Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. Weiss Ratings cut Community Trust Bancorp from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday, July 31st. Piper Sandler lifted their price target on Community Trust Bancorp from $76.00 to $81.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $82.00 price objective on shares of Community Trust Bancorp in a report on Thursday, July 16th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.50.

Community Trust Bancorp Stock Performance

Shares of CTBI opened at $78.87 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.94 and a debt-to-equity ratio of 0.08. Community Trust Bancorp, Inc. has a 52-week low of $50.25 and a 52-week high of $79.92. The company has a 50-day simple moving average of $73.81 and a 200-day simple moving average of $67.00. The company has a market capitalization of $1.43 billion, a PE ratio of 13.21 and a beta of 0.53.

Community Trust Bancorp (NASDAQ:CTBI) last released its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.12. Community Trust Bancorp had a net margin of 25.55% and a return on equity of 12.52%. The firm had revenue of $78.49 million for the quarter, compared to the consensus estimate of $76.85 million. Equities research analysts predict that Community Trust Bancorp, Inc. will post 6.41 earnings per share for the current fiscal year.

Community Trust Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Tuesday, September 15th. This is a positive change from Community Trust Bancorp’s previous quarterly dividend of $0.53. Community Trust Bancorp’s payout ratio is 35.51%.

Community Trust Bancorp Profile

Community Trust Bancorp, Inc is a bank holding company headquartered in Pikeville, Kentucky. As the parent of Community Trust Bank, the company provides a comprehensive range of banking services to individuals, families and businesses throughout eastern Kentucky, southern West Virginia and northeast Tennessee. With origins dating back to the early 20th century, the organization has built a reputation for supporting community development and regional economic growth across the Appalachian region.

The company’s personal banking offerings include checking and savings accounts, consumer installment loans, home equity and mortgage lending, as well as online and mobile banking platforms.