Wedge Capital Management L L P NC Grows Position in Community Trust Bancorp, Inc. (NASDAQ:CTBI)

Wedge Capital Management L L P NC boosted its stake in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 10.1% during the 4th quarter, Holdings Channel reports. The firm owned 11,652 shares of the financial services provider’s stock after acquiring an additional 1,069 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Community Trust Bancorp were worth $511,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in Community Trust Bancorp during the 4th quarter worth approximately $109,000. PBMares Wealth Management LLC purchased a new stake in Community Trust Bancorp during the 4th quarter worth approximately $201,000. Chatham Capital Group Inc. purchased a new stake in Community Trust Bancorp during the 4th quarter worth approximately $234,000. Victory Capital Management Inc. boosted its holdings in Community Trust Bancorp by 25.5% during the third quarter. Victory Capital Management Inc. now owns 8,177 shares of the financial services provider’s stock worth $280,000 after buying an additional 1,664 shares in the last quarter. Finally, Hsbc Holdings PLC purchased a new stake in Community Trust Bancorp during the third quarter worth $288,000. Hedge funds and other institutional investors own 60.20% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on CTBI. Piper Sandler began coverage on shares of Community Trust Bancorp in a research report on Friday, February 16th. They set an “overweight” rating and a $47.00 price objective for the company. Janney Montgomery Scott began coverage on shares of Community Trust Bancorp in a research report on Wednesday, March 27th. They set a “buy” rating and a $49.00 price objective for the company.

Community Trust Bancorp Stock Performance

NASDAQ:CTBI opened at $42.64 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.87 and a current ratio of 0.87. The company has a fifty day moving average of $40.68 and a two-hundred day moving average of $40.51. The stock has a market capitalization of $768.37 million, a PE ratio of 9.89 and a beta of 0.68. Community Trust Bancorp, Inc. has a fifty-two week low of $32.68 and a fifty-two week high of $45.74.

Community Trust Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Saturday, June 15th will be given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date of this dividend is Friday, June 14th. Community Trust Bancorp’s dividend payout ratio (DPR) is 42.69%.

Insider Activity

In other Community Trust Bancorp news, Director Franky Minnifield bought 2,000 shares of Community Trust Bancorp stock in a transaction dated Friday, March 15th. The stock was acquired at an average cost of $39.28 per share, for a total transaction of $78,560.00. Following the completion of the transaction, the director now directly owns 14,401 shares of the company’s stock, valued at $565,671.28. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders acquired 2,602 shares of company stock worth $102,359 over the last three months. Insiders own 4.30% of the company’s stock.

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.