Bank of New York Mellon Corp decreased its position in Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 0.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 113,124 shares of the financial services provider’s stock after selling 344 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.64% of Community Trust Bancorp worth $4,481,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in Community Trust Bancorp by 2.7% during the 4th quarter. BlackRock Inc. now owns 1,234,357 shares of the financial services provider’s stock valued at $48,894,000 after purchasing an additional 32,249 shares during the period. New York State Common Retirement Fund increased its position in Community Trust Bancorp by 76.5% during the 4th quarter. New York State Common Retirement Fund now owns 94,100 shares of the financial services provider’s stock valued at $3,727,000 after purchasing an additional 40,800 shares during the period. Sandy Spring Bank purchased a new position in Community Trust Bancorp during the 4th quarter valued at about $44,000. Acadian Asset Management LLC purchased a new position in Community Trust Bancorp during the 4th quarter valued at about $88,000. Finally, Virginia Retirement Systems ET AL increased its position in Community Trust Bancorp by 90.2% during the 4th quarter. Virginia Retirement Systems ET AL now owns 11,600 shares of the financial services provider’s stock valued at $459,000 after purchasing an additional 5,500 shares during the period. Hedge funds and other institutional investors own 60.46% of the company’s stock.

Shares of Community Trust Bancorp stock opened at $42.28 on Tuesday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.11. Community Trust Bancorp, Inc. has a 52-week low of $35.70 and a 52-week high of $53.00. The company has a market capitalization of $755.84 million, a PE ratio of 12.62 and a beta of 0.58.

Community Trust Bancorp (NASDAQ:CTBI) last issued its quarterly earnings data on Wednesday, January 16th. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. Community Trust Bancorp had a net margin of 26.51% and a return on equity of 11.31%. The firm had revenue of $48.52 million for the quarter, compared to the consensus estimate of $48.80 million. On average, equities research analysts expect that Community Trust Bancorp, Inc. will post 3.51 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date was Thursday, March 14th. Community Trust Bancorp’s payout ratio is currently 42.99%.

CTBI has been the topic of a number of research reports. Zacks Investment Research raised shares of Community Trust Bancorp from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a research report on Wednesday, April 3rd. ValuEngine raised shares of Community Trust Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, January 5th. Finally, BidaskClub raised shares of Community Trust Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, December 25th.

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About Community Trust Bancorp

Community Trust Bancorp, Inc operates as the bank holding company for Community Trust Bank, Inc that provides commercial and personal banking services to small and mid-sized communities. The company accepts time and demand deposits, Keogh plans, and savings certificates, as well as checking and savings, regular, individual retirement, NOW, and money market accounts.

Further Reading: How to calculate the intrinsic value of a stock

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Institutional Ownership by Quarter for Community Trust Bancorp (NASDAQ:CTBI)

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