Empowered Funds LLC Decreases Stock Holdings in Community Trust Bancorp, Inc. (NASDAQ:CTBI)

Empowered Funds LLC lowered its stake in Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 7.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 59,443 shares of the financial services provider’s stock after selling 4,997 shares during the quarter. Empowered Funds LLC owned 0.33% of Community Trust Bancorp worth $3,152,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its stake in shares of Community Trust Bancorp by 34.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 95,233 shares of the financial services provider’s stock worth $4,729,000 after buying an additional 24,622 shares during the last quarter. Barclays PLC lifted its holdings in Community Trust Bancorp by 45.8% in the third quarter. Barclays PLC now owns 50,376 shares of the financial services provider’s stock valued at $2,502,000 after acquiring an additional 15,832 shares during the period. Kovitz Investment Group Partners LLC purchased a new position in Community Trust Bancorp in the third quarter worth about $786,000. Thrivent Financial for Lutherans grew its stake in shares of Community Trust Bancorp by 23.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 80,948 shares of the financial services provider’s stock valued at $4,020,000 after purchasing an additional 15,619 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in shares of Community Trust Bancorp by 95.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 26,620 shares of the financial services provider’s stock valued at $1,412,000 after purchasing an additional 13,012 shares during the last quarter. Hedge funds and other institutional investors own 60.20% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on CTBI. Raymond James raised shares of Community Trust Bancorp from a “market perform” rating to an “outperform” rating and set a $60.00 price objective on the stock in a report on Friday, October 18th. Piper Sandler reiterated an “overweight” rating and set a $64.00 price target on shares of Community Trust Bancorp in a research note on Friday, November 8th.

Community Trust Bancorp Stock Up 1.0 %

CTBI stock opened at $55.68 on Friday. The business’s 50-day moving average price is $54.45 and its 200-day moving average price is $52.49. The stock has a market cap of $1.01 billion, a P/E ratio of 12.08 and a beta of 0.67. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.09. Community Trust Bancorp, Inc. has a twelve month low of $38.53 and a twelve month high of $61.67.

Community Trust Bancorp (NASDAQ:CTBI) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.05. Community Trust Bancorp had a net margin of 22.02% and a return on equity of 11.36%. During the same quarter in the prior year, the company earned $1.04 EPS. On average, equities research analysts forecast that Community Trust Bancorp, Inc. will post 5.06 EPS for the current year.

Community Trust Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Saturday, March 15th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend is Friday, March 14th. Community Trust Bancorp’s dividend payout ratio is currently 40.78%.

Community Trust Bancorp Company 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.