Connor Clark & Lunn Investment Management Ltd. Acquires 10,093 Shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI)

Connor Clark & Lunn Investment Management Ltd. increased its holdings in Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 81.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,525 shares of the financial services provider’s stock after buying an additional 10,093 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.12% of Community Trust Bancorp worth $1,119,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Innealta Capital LLC bought a new position in Community Trust Bancorp in the second quarter worth approximately $37,000. Coastline Trust Co purchased a new position in Community Trust Bancorp in the third quarter worth $79,000. CWM LLC grew its holdings in Community Trust Bancorp by 1,932.0% in the second quarter. CWM LLC now owns 2,601 shares of the financial services provider’s stock worth $114,000 after purchasing an additional 2,473 shares during the last quarter. EMC Capital Management purchased a new position in Community Trust Bancorp in the first quarter worth $119,000. Finally, Comerica Bank purchased a new position in Community Trust Bancorp in the first quarter worth $185,000. Institutional investors own 60.20% of the company’s stock.

Analysts Set New Price Targets

CTBI has been the topic of several analyst reports. Raymond James raised shares of Community Trust Bancorp from a “market perform” rating to an “outperform” rating and set a $60.00 price target on the stock in a report on Friday, October 18th. Piper Sandler reaffirmed an “overweight” rating and issued a $64.00 price target on shares of Community Trust Bancorp in a report on Friday, November 8th.

Community Trust Bancorp Price Performance

Shares of CTBI opened at $58.93 on Thursday. The firm has a market capitalization of $1.06 billion, a PE ratio of 13.46 and a beta of 0.63. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.90 and a quick ratio of 0.90. Community Trust Bancorp, Inc. has a 1-year low of $38.44 and a 1-year high of $61.67. The company’s fifty day moving average price is $52.86 and its 200-day moving average price is $48.10.

Community Trust Bancorp (NASDAQ:CTBI) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.08. The firm had revenue of $95.38 million for the quarter, compared to analyst estimates of $62.00 million. Community Trust Bancorp had a net margin of 21.64% and a return on equity of 10.93%. On average, equities research analysts predict that Community Trust Bancorp, Inc. will post 4.56 EPS for the current year.

Community Trust Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Sunday, December 15th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date of this dividend is Friday, December 13th. Community Trust Bancorp’s dividend payout ratio (DPR) is presently 42.73%.

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.