Credit Suisse AG reduced its stake in Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 6.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,451 shares of the financial services provider’s stock after selling 2,325 shares during the period. Credit Suisse AG’s holdings in Community Trust Bancorp were worth $1,484,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Victory Capital Management Inc. bought a new position in shares of Community Trust Bancorp during the first quarter valued at about $176,000. Schroder Investment Management Group raised its stake in Community Trust Bancorp by 23.8% in the first quarter. Schroder Investment Management Group now owns 4,267 shares of the financial services provider’s stock valued at $198,000 after buying an additional 821 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in Community Trust Bancorp by 3.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,437 shares of the financial services provider’s stock valued at $203,000 after buying an additional 136 shares during the last quarter. Virginia Retirement Systems ET AL acquired a new stake in Community Trust Bancorp during the first quarter valued at about $215,000. Finally, Globeflex Capital L P raised its stake in Community Trust Bancorp by 17,666.7% in the first quarter. Globeflex Capital L P now owns 5,330 shares of the financial services provider’s stock valued at $244,000 after buying an additional 5,300 shares during the last quarter. Institutional investors own 57.34% of the company’s stock.

Community Trust Bancorp, Inc. (CTBI) remained flat at $42.90 during mid-day trading on Tuesday. 8,491 shares of the stock were exchanged. The company has a market cap of $756.11 million, a price-to-earnings ratio of 16.07 and a beta of 0.68. The firm has a 50 day moving average price of $43.31 and a 200-day moving average price of $44.39. Community Trust Bancorp, Inc. has a one year low of $35.75 and a one year high of $51.35.

Community Trust Bancorp (NASDAQ:CTBI) last posted its earnings results on Wednesday, July 19th. The financial services provider reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by $0.03. Community Trust Bancorp had a return on equity of 9.29% and a net margin of 23.68%. The business had revenue of $46.55 million during the quarter, compared to the consensus estimate of $46.70 million. Analysts expect that Community Trust Bancorp, Inc. will post $2.74 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 15th will be issued a $0.33 dividend. The ex-dividend date is Thursday, September 14th. This is an increase from Community Trust Bancorp’s previous quarterly dividend of $0.32. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.08%. Community Trust Bancorp’s payout ratio is 48.12%.

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Several research firms have issued reports on CTBI. Zacks Investment Research lowered shares of Community Trust Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, July 21st. BidaskClub lowered shares of Community Trust Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. ValuEngine upgraded shares of Community Trust Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, June 3rd. Finally, Hilliard Lyons upgraded shares of Community Trust Bancorp from an “underperform” rating to a “neutral” rating and cut their price target for the company from $44.00 to $43.00 in a research report on Friday, April 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $46.00.

In other news, insider Andy D. Waters sold 824 shares of the business’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $42.35, for a total value of $34,896.40. Following the sale, the insider now directly owns 1,268 shares in the company, valued at approximately $53,699.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 4.80% of the company’s stock.

About Community Trust Bancorp

Community Trust Bancorp, Inc is a bank holding company. The Company holds interests in a commercial bank, Community Trust Bank, Inc (the Bank), and a trust company, Community Trust and Investment Company. Through its subsidiaries, the Company engages in a range of commercial and personal banking, and trust and wealth management activities, which include accepting time and demand deposits; making secured and unsecured loans to corporations, individuals and others; providing cash management services to corporate and individual customers; issuing letters of credit; renting safe deposit boxes, and providing funds transfer services.

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Institutional Ownership by Quarter for Community Trust Bancorp (NASDAQ:CTBI)

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