Community Trust Bancorp, Inc. (NASDAQ:CTBI) Shares Acquired by Empowered Funds LLC

Empowered Funds LLC raised its stake in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 5.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 64,440 shares of the financial services provider’s stock after buying an additional 3,216 shares during the quarter. Empowered Funds LLC owned about 0.36% of Community Trust Bancorp worth $3,200,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Aptus Capital Advisors LLC acquired a new stake in Community Trust Bancorp during the third quarter worth approximately $608,000. Creative Planning acquired a new position in Community Trust Bancorp in the third quarter valued at $498,000. Code Waechter LLC acquired a new position in Community Trust Bancorp in the third quarter valued at $425,000. CWM LLC lifted its position in Community Trust Bancorp by 12.2% during the third quarter. CWM LLC now owns 2,918 shares of the financial services provider’s stock worth $145,000 after buying an additional 317 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in Community Trust Bancorp in the 3rd quarter worth about $209,000. Institutional investors and hedge funds own 60.20% of the company’s stock.

Community Trust Bancorp Stock Down 0.9 %

Shares of NASDAQ:CTBI opened at $58.53 on Tuesday. The stock has a market capitalization of $1.06 billion, a P/E ratio of 13.30 and a beta of 0.63. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.88 and a current ratio of 0.90. Community Trust Bancorp, Inc. has a 1 year low of $38.44 and a 1 year high of $61.60. The stock has a 50-day simple moving average of $51.39 and a 200-day simple moving average of $47.36.

Community Trust Bancorp (NASDAQ:CTBI) last issued its quarterly earnings data 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 return on equity of 10.93% and a net margin of 21.64%. The company had revenue of $95.38 million for the quarter, compared to analysts’ expectations of $62.00 million. Equities analysts forecast that Community Trust Bancorp, Inc. will post 4.56 earnings per share for the current year.

Community Trust Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Sunday, December 15th will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend is Friday, December 13th. Community Trust Bancorp’s dividend payout ratio is presently 42.73%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Raymond James upgraded 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 report on Friday, October 18th. Piper Sandler reiterated an “overweight” rating and issued a $64.00 price target on shares of Community Trust Bancorp in a report on Friday, November 8th.

About Community Trust Bancorp

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.