Point72 Asset Management L.P. Purchases Shares of 5,678 Community Trust Bancorp, Inc. (NASDAQ:CTBI)

Point72 Asset Management L.P. purchased a new position in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,678 shares of the financial services provider’s stock, valued at approximately $282,000.

Several other institutional investors also recently modified their holdings of the business. Martingale Asset Management L P lifted its holdings in Community Trust Bancorp by 9.6% during the 3rd quarter. Martingale Asset Management L P now owns 43,078 shares of the financial services provider’s stock worth $2,139,000 after buying an additional 3,780 shares during the period. BNP Paribas Financial Markets raised its position in shares of Community Trust Bancorp by 33.7% during the third quarter. BNP Paribas Financial Markets now owns 4,285 shares of the financial services provider’s stock worth $213,000 after acquiring an additional 1,079 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Community Trust Bancorp in the third quarter worth approximately $63,000. Charles Schwab Investment Management Inc. boosted its holdings in Community Trust Bancorp by 1.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 125,372 shares of the financial services provider’s stock valued at $6,226,000 after acquiring an additional 1,914 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in Community Trust Bancorp by 81.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 22,525 shares of the financial services provider’s stock valued at $1,119,000 after purchasing an additional 10,093 shares during the period. Institutional investors own 60.20% of the company’s stock.

Community Trust Bancorp Price Performance

Community Trust Bancorp stock opened at $58.39 on Friday. The stock’s 50 day moving average price is $55.27 and its two-hundred day moving average price is $49.32. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of 13.27 and a beta of 0.66. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.90 and a current ratio of 0.90. Community Trust Bancorp, Inc. has a 52-week low of $38.44 and a 52-week high of $61.67.

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

Community Trust Bancorp Dividend Announcement

The company 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. The ex-dividend date is Friday, December 13th. This represents a $1.88 annualized dividend and a dividend yield of 3.22%. Community Trust Bancorp’s dividend payout ratio is 42.73%.

Wall Street Analyst Weigh In

CTBI has been the topic of a number of 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 objective on the stock in a research note on Friday, October 18th. Piper Sandler reiterated an “overweight” rating and set a $64.00 price target on shares of Community Trust Bancorp in a report on Friday, November 8th.

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.