Bowling Portfolio Management LLC Purchases New Shares in Community Trust Bancorp, Inc. (NASDAQ:CTBI)
Bowling Portfolio Management LLC purchased a new stake in Community Trust Bancorp, Inc. (NASDAQ:CTBI) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 9,022 shares of the financial services provider’s stock, valued at approximately $255,000. Bowling Portfolio Management LLC owned about 0.05% of Community Trust Bancorp at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Advisor Group Holdings Inc. purchased a new stake in Community Trust Bancorp in the 1st quarter valued at $57,000. BNP Paribas Arbitrage SA raised its position in Community Trust Bancorp by 17.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 4,782 shares of the financial services provider’s stock valued at $152,000 after purchasing an additional 694 shares during the last quarter. Tudor Investment Corp Et Al purchased a new stake in Community Trust Bancorp in the 2nd quarter valued at $206,000. Deutsche Bank AG raised its position in Community Trust Bancorp by 51.6% in the 1st quarter. Deutsche Bank AG now owns 7,857 shares of the financial services provider’s stock valued at $249,000 after purchasing an additional 2,675 shares during the last quarter. Finally, American International Group Inc. raised its position in Community Trust Bancorp by 3.7% in the 2nd quarter. American International Group Inc. now owns 9,493 shares of the financial services provider’s stock valued at $311,000 after purchasing an additional 335 shares during the last quarter. Hedge funds and other institutional investors own 58.86% of the company’s stock.
Several analysts recently commented on CTBI shares. BidaskClub upgraded shares of Community Trust Bancorp from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 7th. ValuEngine cut shares of Community Trust Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, June 23rd. Piper Sandler dropped their price objective on shares of Community Trust Bancorp from $35.00 to $32.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 30th. Finally, Zacks Investment Research cut shares of Community Trust Bancorp from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 23rd.
Shares of CTBI opened at $30.90 on Friday. Community Trust Bancorp, Inc. has a 1 year low of $26.45 and a 1 year high of $47.54. The company’s fifty day moving average is $30.48 and its two-hundred day moving average is $31.69. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.93 and a current ratio of 0.94. The stock has a market capitalization of $550.08 million, a P/E ratio of 9.54 and a beta of 0.83.
Community Trust Bancorp (NASDAQ:CTBI) last released its earnings results on Wednesday, July 15th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.73. The firm had revenue of $51.34 million for the quarter, compared to analyst estimates of $48.55 million. Community Trust Bancorp had a return on equity of 9.33% and a net margin of 24.73%. Sell-side analysts predict that Community Trust Bancorp, Inc. will post 3 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Tuesday, September 15th were issued a dividend of $0.385 per share. This is a positive change from Community Trust Bancorp’s previous quarterly dividend of $0.38. This represents a $1.54 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date of this dividend was Monday, September 14th. Community Trust Bancorp’s payout ratio is presently 42.31%.
Community Trust Bancorp Company Profile
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.
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