Quantinno Capital Management LP Boosts Position in Community Trust Bancorp, Inc. $CTBI

Quantinno Capital Management LP raised its position in Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 61.4% during the 1st quarter, Holdings Channel reports. The firm owned 20,026 shares of the financial services provider’s stock after acquiring an additional 7,622 shares during the quarter. Quantinno Capital Management LP’s holdings in Community Trust Bancorp were worth $1,216,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Fifth Third Bancorp acquired a new position in shares of Community Trust Bancorp during the 1st quarter worth $844,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Community Trust Bancorp in the 4th quarter worth about $1,892,000. Lazard Asset Management LLC acquired a new stake in Community Trust Bancorp in the 1st quarter valued at about $1,555,000. Y Intercept Hong Kong Ltd acquired a new stake in Community Trust Bancorp in the 1st quarter valued at about $994,000. Finally, UBS Group AG increased its holdings in Community Trust Bancorp by 10.8% during the 4th quarter. UBS Group AG now owns 97,393 shares of the financial services provider’s stock valued at $5,503,000 after acquiring an additional 9,527 shares in the last quarter. Hedge funds and other institutional investors own 60.20% of the company’s stock.

Community Trust Bancorp Stock Down 0.3%

CTBI opened at $78.87 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.94 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.43 billion, a P/E ratio of 13.21 and a beta of 0.53. Community Trust Bancorp, Inc. has a 52 week low of $50.25 and a 52 week high of $79.92. The business’s fifty day simple moving average is $73.81 and its 200 day simple moving average is $67.00.

Community Trust Bancorp (NASDAQ:CTBI) last posted its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.12. Community Trust Bancorp had a return on equity of 12.52% and a net margin of 25.55%.The firm had revenue of $78.49 million during the quarter, compared to analysts’ expectations of $76.85 million. As a group, equities research analysts anticipate that Community Trust Bancorp, Inc. will post 6.41 EPS for the current fiscal year.

Community Trust Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $2.60 annualized dividend and a dividend yield of 3.3%. This is an increase from Community Trust Bancorp’s previous quarterly dividend of $0.53. Community Trust Bancorp’s dividend payout ratio is 35.51%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CTBI. Raymond James Financial restated an “outperform” rating and set a $82.00 target price on shares of Community Trust Bancorp in a research report on Thursday, July 16th. Piper Sandler increased their price target on shares of Community Trust Bancorp from $76.00 to $81.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. Weiss Ratings cut shares of Community Trust Bancorp from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday, July 31st. Finally, Zacks Research cut shares of Community Trust Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 16th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $81.50.

About Community Trust Bancorp

Community Trust Bancorp, Inc is a bank holding company headquartered in Pikeville, Kentucky. As the parent of Community Trust Bank, the company provides a comprehensive range of banking services to individuals, families and businesses throughout eastern Kentucky, southern West Virginia and northeast Tennessee. With origins dating back to the early 20th century, the organization has built a reputation for supporting community development and regional economic growth across the Appalachian region.

The company’s personal banking offerings include checking and savings accounts, consumer installment loans, home equity and mortgage lending, as well as online and mobile banking platforms.