Community Trust Bancorp, Inc. (NASDAQ:CTBI) Shares Sold by LSV Asset Management

LSV Asset Management cut its stake in Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 0.6% in the fourth quarter, HoldingsChannel reports. The fund owned 266,267 shares of the financial services provider’s stock after selling 1,490 shares during the period. LSV Asset Management’s holdings in Community Trust Bancorp were worth $11,678,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in Community Trust Bancorp during the fourth quarter worth $109,000. PBMares Wealth Management LLC purchased a new stake in Community Trust Bancorp in the 4th quarter worth $201,000. Chatham Capital Group Inc. acquired a new position in Community Trust Bancorp during the fourth quarter worth $234,000. Truist Financial Corp purchased a new position in Community Trust Bancorp during the fourth quarter valued at $344,000. Finally, Victory Capital Management Inc. grew its position in shares of Community Trust Bancorp by 25.5% in the third quarter. Victory Capital Management Inc. now owns 8,177 shares of the financial services provider’s stock valued at $280,000 after purchasing an additional 1,664 shares during the period. Hedge funds and other institutional investors own 60.20% of the company’s stock.

Community Trust Bancorp Trading Down 1.0 %

Shares of Community Trust Bancorp stock opened at $43.39 on Wednesday. Community Trust Bancorp, Inc. has a fifty-two week low of $33.02 and a fifty-two week high of $45.74. The stock has a 50 day moving average of $41.08 and a 200 day moving average of $41.00. The firm has a market capitalization of $781.89 million, a price-to-earnings ratio of 10.07 and a beta of 0.68. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.87 and a current ratio of 0.87.

Community Trust Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Saturday, June 15th will be given a $0.46 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.84 dividend on an annualized basis and a yield of 4.24%. Community Trust Bancorp’s payout ratio is currently 42.69%.

Insiders Place Their Bets

In related news, Director Franky Minnifield bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was purchased at an average price of $39.28 per share, for a total transaction of $78,560.00. Following the acquisition, the director now owns 14,401 shares of the company’s stock, valued at $565,671.28. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders purchased a total of 2,602 shares of company stock valued at $102,359 over the last 90 days. 4.30% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Piper Sandler started coverage on shares of Community Trust Bancorp in a research note on Friday, February 16th. They issued an “overweight” rating and a $47.00 price target on the stock. Janney Montgomery Scott initiated coverage on Community Trust Bancorp in a research report on Wednesday, March 27th. They set a “buy” rating and a $49.00 price target for the company.

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.