Community Trust Bancorp (NASDAQ:CTBI) Director Sells $307,515.00 in Stock

Community Trust Bancorp, Inc. (NASDAQ:CTBI) Director Franky Minnifield sold 3,900 shares of the business’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $78.85, for a total transaction of $307,515.00. Following the completion of the transaction, the director owned 8,320 shares in the company, valued at $656,032. This represents a 31.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Community Trust Bancorp Stock Down 2.6%

Shares of Community Trust Bancorp stock opened at $76.11 on Thursday. The business has a 50-day moving average of $74.31 and a 200-day moving average of $67.39. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market capitalization of $1.38 billion, a PE ratio of 12.75 and a beta of 0.53. Community Trust Bancorp, Inc. has a 1-year low of $50.25 and a 1-year high of $79.92.

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

Community Trust Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.65 per share. This is an increase from Community Trust Bancorp’s previous quarterly dividend of $0.53. The ex-dividend date is Tuesday, September 15th. This represents a $2.60 annualized dividend and a dividend yield of 3.4%. Community Trust Bancorp’s dividend payout ratio (DPR) is currently 35.51%.

Analyst Upgrades and Downgrades

CTBI has been the topic of several recent analyst reports. Raymond James Financial reaffirmed an “outperform” rating and issued a $82.00 price target on shares of Community Trust Bancorp in a report on Thursday, July 16th. Zacks Research cut shares of Community Trust Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. Piper Sandler lifted their price target on Community Trust Bancorp from $76.00 to $81.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Finally, Weiss Ratings raised Community Trust Bancorp from a “buy (b+)” rating to a “buy (a-)” rating in a report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.50.

Hedge Funds Weigh In On Community Trust Bancorp

Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in Community Trust Bancorp in the second quarter valued at $129,034,000. Jupiter Topco LLC bought a new position in shares of Community Trust Bancorp during the second quarter worth about $14,956,000. Heartland Advisors Inc. acquired a new stake in shares of Community Trust Bancorp in the 2nd quarter worth about $11,882,000. Bank of New York Mellon Corp bought a new stake in Community Trust Bancorp in the 2nd quarter valued at about $7,971,000. Finally, Janus Henderson Group PLC lifted its position in Community Trust Bancorp by 114.0% in the 1st quarter. Janus Henderson Group PLC now owns 192,413 shares of the financial services provider’s stock valued at $11,684,000 after purchasing an additional 102,488 shares during the last quarter. 60.20% of the stock is owned by institutional investors.

About Community Trust Bancorp

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.