ProShare Advisors LLC Invests $6.38 Million in Community Trust Bancorp, Inc. $CTBI

ProShare Advisors LLC bought a new stake in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 120,526 shares of the financial services provider’s stock, valued at approximately $6,378,000. ProShare Advisors LLC owned approximately 0.67% of Community Trust Bancorp as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Nuveen LLC bought a new position in Community Trust Bancorp in the 1st quarter worth $5,210,000. Community Trust & Investment Co. increased its position in shares of Community Trust Bancorp by 3.0% during the second quarter. Community Trust & Investment Co. now owns 1,979,076 shares of the financial services provider’s stock valued at $104,733,000 after buying an additional 58,142 shares during the period. Millennium Management LLC raised its stake in Community Trust Bancorp by 116.4% in the first quarter. Millennium Management LLC now owns 100,651 shares of the financial services provider’s stock worth $5,069,000 after buying an additional 54,130 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in Community Trust Bancorp by 237.5% in the first quarter. Adage Capital Partners GP L.L.C. now owns 67,499 shares of the financial services provider’s stock worth $3,399,000 after buying an additional 47,499 shares during the period. Finally, Vanguard Group Inc. boosted its position in Community Trust Bancorp by 4.0% during 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 in the last quarter. Institutional investors own 60.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CTBI. Weiss Ratings reissued a “buy (b-)” rating on shares of Community Trust Bancorp in a research report on Thursday, October 30th. Piper Sandler initiated coverage on Community Trust Bancorp in a report on Monday, August 18th. They issued an “overweight” rating and a $66.00 price objective for the company. Finally, Raymond James Financial set a $61.00 target price on shares of Community Trust Bancorp in a report on Wednesday, October 15th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Community Trust Bancorp currently has an average rating of “Buy” and a consensus price target of $63.50.

Insider Activity

In other news, EVP Andy D. Waters sold 918 shares of the 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 sale, the executive vice president owned 632 shares in the company, valued at $35,505.76. This represents a 59.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 4.30% of the company’s stock.

Community Trust Bancorp Stock Down 0.2%

Shares of NASDAQ:CTBI opened at $54.16 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. The stock has a fifty day simple moving average of $54.56 and a two-hundred day simple moving average of $53.99. Community Trust Bancorp, Inc. has a 12-month low of $44.60 and a 12-month high of $61.67. The stock has a market capitalization of $980.89 million, a price-to-earnings ratio of 10.48 and a beta of 0.60.

Community Trust Bancorp (NASDAQ:CTBI) last issued its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $1.32 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.06). The company had revenue of $71.50 million for the quarter, compared to the consensus estimate of $71.85 million. Community Trust Bancorp had a net margin of 23.24% and a return on equity of 11.91%. On average, research analysts anticipate that Community Trust Bancorp, Inc. will post 5.06 earnings per share for the current fiscal year.

Community Trust Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 15th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $2.12 annualized dividend and a yield of 3.9%. Community Trust Bancorp’s payout ratio is 41.01%.

About Community Trust Bancorp

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.