Community Trust Bancorp (NASDAQ:CTBI) Director Franky Minnifield Sells 3,900 Shares

Community Trust Bancorp, Inc. (NASDAQ:CTBI) Director Franky Minnifield sold 3,900 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $78.85, for a total value of $307,515.00. Following the sale, the director owned 8,320 shares in the company, valued at approximately $656,032. This trade represents a 31.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Community Trust Bancorp Price Performance

NASDAQ:CTBI opened at $78.48 on Tuesday. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of 13.15 and a beta of 0.53. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.94 and a quick ratio of 0.94. The business has a 50 day simple moving average of $74.01 and a 200-day simple moving average of $67.16. Community Trust Bancorp, Inc. has a 1 year low of $50.25 and a 1 year high of $79.92.

Community Trust Bancorp (NASDAQ:CTBI) last released its earnings results on Wednesday, July 15th. The financial services provider reported $1.64 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $76.85 million. Equities analysts forecast that Community Trust Bancorp, Inc. will post 6.41 EPS for the current year.

Community Trust Bancorp Increases Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CTBI shares. Raymond James Financial restated an “outperform” rating and issued a $82.00 target price on shares of Community Trust Bancorp in a report on Thursday, July 16th. Zacks Research lowered shares of Community Trust Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. Piper Sandler raised their price objective on shares of Community Trust Bancorp from $76.00 to $81.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Finally, Weiss Ratings upgraded Community Trust Bancorp from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $81.50.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CTBI. Public Employees Retirement System of Ohio bought a new stake in Community Trust Bancorp during the 2nd quarter valued at $531,000. Bank of America Corp DE bought a new position in shares of Community Trust Bancorp during the 2nd quarter worth $2,736,000. Odyssean LLC bought a new position in shares of Community Trust Bancorp during the 2nd quarter worth $369,000. Jupiter Topco LLC purchased a new position in shares of Community Trust Bancorp during the second quarter valued at $14,956,000. Finally, Hsbc Holdings PLC purchased a new position in shares of Community Trust Bancorp during the second quarter valued at $1,627,000. 60.20% of the stock is currently owned by hedge funds and other institutional investors.

Community Trust Bancorp Company Profile

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.