Calton & Associates Inc. Decreases Holdings in Community Trust Bancorp, Inc. $CTBI

Calton & Associates Inc. lowered its position in Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 2.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 9,398 shares of the financial services provider’s stock after selling 215 shares during the quarter. Calton & Associates Inc.’s holdings in Community Trust Bancorp were worth $473,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CTBI. Nuveen LLC bought a new stake in Community Trust Bancorp in the 1st quarter valued at about $5,210,000. Vanguard Group Inc. raised its stake in Community Trust Bancorp by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 921,499 shares of the financial services provider’s stock valued at $46,407,000 after acquiring an additional 35,815 shares during the period. American Century Companies Inc. raised its stake in Community Trust Bancorp by 9.7% in the 1st quarter. American Century Companies Inc. now owns 384,618 shares of the financial services provider’s stock valued at $19,369,000 after acquiring an additional 33,863 shares during the period. Northern Trust Corp raised its stake in Community Trust Bancorp by 8.4% in the 1st quarter. Northern Trust Corp now owns 384,942 shares of the financial services provider’s stock valued at $19,386,000 after acquiring an additional 29,864 shares during the period. Finally, Community Trust & Investment Co. raised its stake in Community Trust Bancorp by 1.6% in the 1st quarter. Community Trust & Investment Co. now owns 1,920,934 shares of the financial services provider’s stock valued at $96,738,000 after acquiring an additional 29,577 shares during the period. 60.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Andy D. Waters sold 918 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $56.18, for a total transaction of $51,573.24. Following the completion of the transaction, the executive vice president owned 632 shares of the company’s stock, valued at approximately $35,505.76. The trade was a 59.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.30% of the company’s stock.

Community Trust Bancorp Price Performance

Shares of NASDAQ:CTBI opened at $58.42 on Monday. The company has a 50 day moving average of $55.36 and a 200 day moving average of $52.44. The stock has a market cap of $1.06 billion, a P/E ratio of 11.50 and a beta of 0.62. Community Trust Bancorp, Inc. has a 12 month low of $44.60 and a 12 month high of $61.67. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08.

Community Trust Bancorp (NASDAQ:CTBI) last issued its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $1.38 EPS for the quarter, beating the consensus estimate of $1.27 by $0.11. The company had revenue of $70.21 million during the quarter, compared to analysts’ expectations of $68.00 million. Community Trust Bancorp had a net margin of 23.33% and a return on equity of 11.77%. As a group, sell-side analysts forecast that Community Trust Bancorp, Inc. will post 5.06 EPS for the current fiscal year.

Community Trust Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be paid a dividend of $0.53 per share. This is an increase from Community Trust Bancorp’s previous quarterly dividend of $0.47. This represents a $2.12 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Monday, September 15th. Community Trust Bancorp’s dividend payout ratio is presently 37.01%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Raymond James Financial restated an “outperform” rating and issued a $63.00 price objective (up from $58.00) on shares of Community Trust Bancorp in a research note on Thursday, July 17th. Piper Sandler assumed coverage on Community Trust Bancorp in a research note on Monday, August 18th. They issued an “overweight” rating and a $66.00 price objective on the stock. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $64.50.

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.