Community Trust Bancorp, Inc. (NASDAQ:CTBI) Shares Acquired by Martingale Asset Management L P

Martingale Asset Management L P lifted its holdings in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 9.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 43,078 shares of the financial services provider’s stock after buying an additional 3,780 shares during the period. Martingale Asset Management L P owned 0.24% of Community Trust Bancorp worth $2,139,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of CTBI. Thoroughbred Financial Services LLC acquired a new stake in shares of Community Trust Bancorp during the 2nd quarter worth approximately $2,891,000. Thrivent Financial for Lutherans lifted its stake in Community Trust Bancorp by 23.9% in the third quarter. Thrivent Financial for Lutherans now owns 80,948 shares of the financial services provider’s stock valued at $4,020,000 after buying an additional 15,619 shares during the last quarter. Creative Planning acquired a new position in shares of Community Trust Bancorp during the third quarter valued at $498,000. Bank of Montreal Can bought a new position in shares of Community Trust Bancorp during the second quarter worth about $764,000. Finally, Clifford Capital Partners LLC increased its holdings in shares of Community Trust Bancorp by 7.8% in the 2nd quarter. Clifford Capital Partners LLC now owns 324,515 shares of the financial services provider’s stock worth $14,168,000 after acquiring an additional 23,564 shares during the period. Institutional investors and hedge funds own 60.20% of the company’s stock.

Community Trust Bancorp Stock Up 0.1 %

CTBI stock opened at $58.98 on Friday. The firm’s 50-day moving average is $53.39 and its two-hundred day moving average is $48.39. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of 13.40 and a beta of 0.63. Community Trust Bancorp, Inc. has a 52 week low of $38.44 and a 52 week high of $61.67. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.09.

Community Trust Bancorp (NASDAQ:CTBI) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.23 EPS for the quarter, topping the consensus estimate of $1.15 by $0.08. The firm had revenue of $95.38 million for the quarter, compared to analysts’ expectations of $62.00 million. Community Trust Bancorp had a return on equity of 10.93% and a net margin of 21.64%. On average, analysts forecast that Community Trust Bancorp, Inc. will post 4.56 earnings per share for the current fiscal year.

Community Trust Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Sunday, December 15th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date is Friday, December 13th. Community Trust Bancorp’s payout ratio is currently 42.73%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CTBI shares. Raymond James raised shares of Community Trust Bancorp from a “market perform” rating to an “outperform” rating and set a $60.00 target price for the company in a research note on Friday, October 18th. Piper Sandler reissued an “overweight” rating and issued a $64.00 price objective on shares of Community Trust Bancorp in a report on Friday, November 8th.

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.