Prudential Financial Inc. lifted its stake in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 4.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 173,873 shares of the financial services provider’s stock after acquiring an additional 7,385 shares during the quarter. Prudential Financial Inc. owned approximately 0.98% of Community Trust Bancorp worth $8,059,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. Stone Ridge Asset Management LLC increased its position in shares of Community Trust Bancorp by 16.6% during the third quarter. Stone Ridge Asset Management LLC now owns 7,721 shares of the financial services provider’s stock worth $358,000 after acquiring an additional 1,100 shares during the period. Wells Fargo & Company MN increased its position in shares of Community Trust Bancorp by 5.0% during the third quarter. Wells Fargo & Company MN now owns 26,732 shares of the financial services provider’s stock worth $1,240,000 after acquiring an additional 1,271 shares during the period. Schwab Charles Investment Management Inc. increased its position in shares of Community Trust Bancorp by 2.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 90,967 shares of the financial services provider’s stock worth $4,544,000 after acquiring an additional 1,762 shares during the period. Bessemer Group Inc. increased its position in shares of Community Trust Bancorp by 13.5% during the third quarter. Bessemer Group Inc. now owns 19,400 shares of the financial services provider’s stock worth $899,000 after acquiring an additional 2,300 shares during the period. Finally, Macquarie Group Ltd. purchased a new position in shares of Community Trust Bancorp during the second quarter worth approximately $120,000. 58.40% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have recently commented on the stock. BidaskClub lowered shares of Community Trust Bancorp from a “hold” rating to a “sell” rating in a research report on Friday. Zacks Investment Research raised shares of Community Trust Bancorp from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a report on Monday, October 22nd. Finally, ValuEngine lowered shares of Community Trust Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd.
Shares of CTBI stock opened at $42.61 on Friday. The company has a market cap of $753.10 million, a P/E ratio of 15.22 and a beta of 0.47. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.94 and a current ratio of 0.94. Community Trust Bancorp, Inc. has a 52-week low of $41.70 and a 52-week high of $53.00.
Community Trust Bancorp (NASDAQ:CTBI) last issued its quarterly earnings data on Wednesday, October 17th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.07. The company had revenue of $48.80 million for the quarter, compared to analyst estimates of $48.50 million. Community Trust Bancorp had a net margin of 26.68% and a return on equity of 10.95%. Sell-side analysts anticipate that Community Trust Bancorp, Inc. will post 3.49 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 1st. Investors of record on Saturday, December 15th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 3.38%. The ex-dividend date is Thursday, December 13th. Community Trust Bancorp’s payout ratio is 51.43%.
In other Community Trust Bancorp news, Director Franky Minnifield acquired 2,275 shares of the business’s stock in a transaction that occurred on Wednesday, October 17th. The shares were bought at an average cost of $44.64 per share, with a total value of $101,556.00. Following the completion of the acquisition, the director now directly owns 1,007 shares in the company, valued at approximately $44,952.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 4.80% of the company’s stock.
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About Community Trust Bancorp
Community Trust Bancorp, Inc operates as the bank holding company for Community Trust Bank, Inc that provides commercial and personal banking services to small and mid-sized communities. The company accepts time and demand deposits, Keogh plans, and savings certificates, as well as checking and savings, individual retirement, NOW, and money market accounts.
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