Los Angeles Capital Management LLC Cuts Stock Position in Community Trust Bancorp, Inc. (NASDAQ:CTBI)

Los Angeles Capital Management LLC decreased its holdings in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 8.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 6,515 shares of the financial services provider’s stock after selling 600 shares during the period. Los Angeles Capital Management LLC’s holdings in Community Trust Bancorp were worth $345,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Quantbot Technologies LP acquired a new position in Community Trust Bancorp during the third quarter worth $63,000. New York State Teachers Retirement System purchased a new stake in shares of Community Trust Bancorp during the fourth quarter worth about $75,000. Coastline Trust Co acquired a new position in shares of Community Trust Bancorp during the 3rd quarter worth about $79,000. BNP Paribas Financial Markets lifted its stake in Community Trust Bancorp by 33.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,285 shares of the financial services provider’s stock valued at $213,000 after buying an additional 1,079 shares in the last quarter. Finally, Merit Financial Group LLC boosted its holdings in Community Trust Bancorp by 9.7% in the 4th quarter. Merit Financial Group LLC now owns 5,217 shares of the financial services provider’s stock worth $277,000 after buying an additional 462 shares during the last quarter. Institutional investors and hedge funds own 60.20% of the company’s stock.

Analysts Set New Price Targets

Separately, Piper Sandler reissued an “overweight” rating and set a $64.00 target price on shares of Community Trust Bancorp in a report on Friday, November 8th.

Community Trust Bancorp Price Performance

Community Trust Bancorp stock opened at $54.68 on Tuesday. The company has a fifty day simple moving average of $53.84 and a 200-day simple moving average of $53.15. The firm has a market capitalization of $987.41 million, a price-to-earnings ratio of 11.86 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 52-week low of $38.53 and a 52-week high of $61.67.

Community Trust Bancorp (NASDAQ:CTBI) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.25 earnings per share (EPS) 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 previous year, the firm posted $1.04 earnings per share. On average, equities analysts anticipate that Community Trust Bancorp, Inc. will post 5.06 EPS for the current fiscal year.

Community Trust Bancorp Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.88 annualized dividend and a dividend yield of 3.44%. Community Trust Bancorp’s dividend payout ratio is presently 40.78%.

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.