Heartland Advisors Inc. Makes New $11.88 Million Investment in Community Trust Bancorp, Inc. $CTBI

Heartland Advisors Inc. bought a new position in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 164,210 shares of the financial services provider’s stock, valued at approximately $11,882,000. Heartland Advisors Inc. owned approximately 0.90% of Community Trust Bancorp as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. Thrivent Financial for Lutherans grew its stake in shares of Community Trust Bancorp by 0.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 55,617 shares of the financial services provider’s stock valued at $3,143,000 after acquiring an additional 163 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its stake in Community Trust Bancorp by 7.6% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 2,958 shares of the financial services provider’s stock worth $156,000 after purchasing an additional 208 shares in the last quarter. BTC Capital Management Inc. raised its stake in Community Trust Bancorp by 4.0% in the 1st quarter. BTC Capital Management Inc. now owns 9,139 shares of the financial services provider’s stock worth $555,000 after purchasing an additional 350 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Community Trust Bancorp by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,122 shares of the financial services provider’s stock valued at $459,000 after purchasing an additional 381 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in Community Trust Bancorp by 4.5% in the 4th quarter. Franklin Resources Inc. now owns 10,496 shares of the financial services provider’s stock valued at $593,000 after purchasing an additional 452 shares during the period. Institutional investors own 60.20% of the company’s stock.

Insider Transactions at Community Trust Bancorp

In other Community Trust Bancorp news, Director Franky Minnifield sold 3,900 shares of the business’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 transaction of $307,515.00. Following the completion of the transaction, the director directly owned 8,320 shares in the company, valued at $656,032. The trade was 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. 2.60% of the stock is owned by company insiders.

Community Trust Bancorp Trading Up 0.4%

CTBI opened at $76.52 on Friday. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 12.82 and a beta of 0.53. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.08. Community Trust Bancorp, Inc. has a twelve month low of $50.25 and a twelve month high of $79.92. The company has a 50-day simple moving average of $74.54 and a 200 day simple moving average of $67.56.

Community Trust Bancorp (NASDAQ:CTBI) last released its earnings results on Wednesday, July 15th. The financial services provider reported $1.64 EPS for the quarter, beating the consensus estimate of $1.52 by $0.12. The firm had revenue of $78.49 million for the quarter, compared to analyst estimates of $76.85 million. Community Trust Bancorp had a net margin of 25.55% and a return on equity of 12.52%. Analysts predict 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. Investors of record on Tuesday, September 15th will be given a dividend of $0.65 per share. The ex-dividend date is Tuesday, September 15th. This represents a $2.60 annualized dividend and a dividend yield of 3.4%. This is a positive change from Community Trust Bancorp’s previous quarterly dividend of $0.53. Community Trust Bancorp’s dividend payout ratio (DPR) is 43.55%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Raymond James Financial reaffirmed an “outperform” rating and set a $82.00 target price on shares of Community Trust Bancorp in a report on Thursday, July 16th. Weiss Ratings upgraded Community Trust Bancorp from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Thursday, August 13th. Zacks Research downgraded Community Trust Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. Finally, Piper Sandler raised their price objective on Community Trust Bancorp from $76.00 to $81.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average 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.