Renaissance Technologies LLC Sells 21,236 Shares of Community Trust Bancorp, Inc. $CTBI

Renaissance Technologies LLC lessened its stake in Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 13.8% in the first quarter, HoldingsChannel reports. The firm owned 132,937 shares of the financial services provider’s stock after selling 21,236 shares during the period. Renaissance Technologies LLC’s holdings in Community Trust Bancorp were worth $8,072,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CTBI. Assetmark Inc. bought a new position in Community Trust Bancorp during the fourth quarter worth about $27,000. Garton & Associates Financial Advisors LLC acquired a new position in shares of Community Trust Bancorp during the 4th quarter worth about $30,000. Quadrant Capital Group LLC bought a new stake in shares of Community Trust Bancorp in the 3rd quarter valued at about $86,000. Russell Investments Group Ltd. increased its stake in shares of Community Trust Bancorp by 478.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,650 shares of the financial services provider’s stock valued at $92,000 after acquiring an additional 1,365 shares during the last quarter. Finally, Strs Ohio acquired a new stake in shares of Community Trust Bancorp in the 1st quarter valued at approximately $86,000. Institutional investors and hedge funds own 60.20% of the company’s stock.

Community Trust Bancorp Stock Up 0.6%

Community Trust Bancorp stock opened at $78.93 on Tuesday. The company has a fifty day simple moving average of $71.71 and a 200 day simple moving average of $65.92. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.08. Community Trust Bancorp, Inc. has a 1-year low of $50.25 and a 1-year high of $79.60. The company has a market cap of $1.43 billion, a P/E ratio of 13.22 and a beta of 0.54.

Community Trust Bancorp (NASDAQ:CTBI) last released its earnings results on Wednesday, July 15th. The financial services provider reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.12. Community Trust Bancorp had a return on equity of 12.66% and a net margin of 25.55%.The business had revenue of $78.49 million for the quarter, compared to the consensus estimate of $76.85 million. Research analysts anticipate that Community Trust Bancorp, Inc. will post 6.41 earnings per share for the current fiscal year.

Community Trust Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.65 per share. The ex-dividend date is Tuesday, September 15th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.3%. This is an increase from Community Trust Bancorp’s previous quarterly dividend of $0.53. Community Trust Bancorp’s dividend payout ratio (DPR) is currently 43.55%.

Analysts Set New Price Targets

Several research analysts recently weighed in on CTBI shares. Zacks Research lowered shares of Community Trust Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 16th. Raymond James Financial reaffirmed an “outperform” rating and issued a $82.00 target price on shares of Community Trust Bancorp in a research note on Thursday, July 16th. Piper Sandler lifted their target price on Community Trust Bancorp from $76.00 to $81.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. Finally, Weiss Ratings lowered Community Trust Bancorp from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $81.50.

About Community Trust Bancorp

Community Trust Bancorp, Inc is a bank holding company headquartered in Pikeville, Kentucky. As the parent of Community Trust Bank, the company provides a comprehensive range of banking services to individuals, families and businesses throughout eastern Kentucky, southern West Virginia and northeast Tennessee. With origins dating back to the early 20th century, the organization has built a reputation for supporting community development and regional economic growth across the Appalachian region.

The company’s personal banking offerings include checking and savings accounts, consumer installment loans, home equity and mortgage lending, as well as online and mobile banking platforms.