7,334 Shares in Community Trust Bancorp, Inc. $CTBI Acquired by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio purchased a new stake in Community Trust Bancorp, Inc. (NASDAQ:CTBI) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 7,334 shares of the financial services provider’s stock, valued at approximately $531,000.

Other hedge funds also recently added to or reduced their stakes in the company. Garton & Associates Financial Advisors LLC acquired a new stake in Community Trust Bancorp during the fourth quarter worth approximately $30,000. Quantbot Technologies LP acquired a new position in shares of Community Trust Bancorp in the 2nd quarter valued at $40,000. Quadrant Capital Group LLC acquired a new position in shares of Community Trust Bancorp in the 3rd quarter valued at $86,000. Strs Ohio purchased a new position in shares of Community Trust Bancorp in the 1st quarter valued at $86,000. Finally, Russell Investments Group Ltd. grew its position 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 buying an additional 1,365 shares during the last quarter. 60.20% of the stock is currently owned by hedge funds and other institutional investors.

Community Trust Bancorp Price Performance

CTBI stock opened at $77.37 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $1.41 billion, a P/E ratio of 12.96 and a beta of 0.52. The business has a 50 day simple moving average of $76.28 and a 200-day simple moving average of $68.87. Community Trust Bancorp, Inc. has a twelve month low of $50.25 and a twelve month high of $79.92.

Community Trust Bancorp (NASDAQ:CTBI) last announced its earnings results on Wednesday, July 15th. The financial services provider reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.12. Community Trust Bancorp had a net margin of 25.55% and a return on equity of 12.52%. The business had revenue of $78.49 million for the quarter, compared to analysts’ expectations of $76.85 million. As a group, equities analysts anticipate that Community Trust Bancorp, Inc. will post 6.41 EPS for the current year.

Community Trust Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, September 15th. This is an increase from Community Trust Bancorp’s previous quarterly dividend of $0.53. Community Trust Bancorp’s payout ratio is 35.51%.

Insider Buying and Selling

In other Community Trust Bancorp news, Director Franky Minnifield sold 3,900 shares of Community Trust Bancorp stock in a transaction on Friday, August 14th. The shares were sold at an average price of $78.85, for a total value of $307,515.00. Following the transaction, the director directly owned 8,320 shares in the company, valued at approximately $656,032. The trade was a 31.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Piper Sandler boosted their price target on shares of Community Trust Bancorp from $76.00 to $81.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. Raymond James Financial initiated coverage on Community Trust Bancorp in a report on Tuesday, September 1st. They set an “outperform” rating and a $82.00 price objective on the stock. Weiss Ratings upgraded Community Trust Bancorp from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Thursday, August 13th. Finally, Zacks Research cut Community Trust Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $81.50.

Community Trust Bancorp Profile

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.