Stock Yards Bank & Trust Co. Invests $439,000 in Community Trust Bancorp, Inc. (NASDAQ:CTBI)

Stock Yards Bank & Trust Co. acquired a new position in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 10,058 shares of the financial services provider’s stock, valued at approximately $439,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Parallel Advisors LLC boosted its holdings in Community Trust Bancorp by 77.8% during the fourth quarter. Parallel Advisors LLC now owns 704 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 308 shares during the period. Victory Capital Management Inc. boosted its stake in Community Trust Bancorp by 5.2% during the 4th quarter. Victory Capital Management Inc. now owns 8,605 shares of the financial services provider’s stock valued at $377,000 after purchasing an additional 428 shares during the period. ClariVest Asset Management LLC grew its holdings in Community Trust Bancorp by 2.9% in the 2nd quarter. ClariVest Asset Management LLC now owns 15,913 shares of the financial services provider’s stock valued at $695,000 after buying an additional 445 shares during the last quarter. Renaissance Technologies LLC increased its position in Community Trust Bancorp by 0.3% in the 2nd quarter. Renaissance Technologies LLC now owns 143,382 shares of the financial services provider’s stock worth $6,260,000 after buying an additional 500 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Community Trust Bancorp by 4.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,484 shares of the financial services provider’s stock worth $618,000 after buying an additional 631 shares during the last quarter. 60.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP David Andrew Jones bought 10,000 shares of Community Trust Bancorp stock in a transaction that occurred on Monday, July 22nd. The stock was purchased at an average cost of $32.27 per share, with a total value of $322,700.00. Following the completion of the transaction, the executive vice president now directly owns 10,000 shares in the company, valued at $322,700. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders have bought 20,011 shares of company stock worth $645,881. Company insiders own 4.30% of the company’s stock.

Community Trust Bancorp Trading Up 0.4 %

Shares of Community Trust Bancorp stock opened at $49.44 on Wednesday. The company has a market cap of $892.39 million, a price-to-earnings ratio of 11.47 and a beta of 0.64. Community Trust Bancorp, Inc. has a 1 year low of $33.48 and a 1 year high of $52.22. The company’s fifty day simple moving average is $48.31 and its 200-day simple moving average is $44.05. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09.

Community Trust Bancorp (NASDAQ:CTBI) last announced its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.06. Community Trust Bancorp had a net margin of 21.85% and a return on equity of 11.14%. The business had revenue of $92.36 million during the quarter, compared to analyst estimates of $58.65 million. As a group, sell-side analysts expect that Community Trust Bancorp, Inc. will post 4.38 EPS for the current year.

Community Trust Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Sunday, September 15th will be given a $0.47 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.80%. This is an increase from Community Trust Bancorp’s previous quarterly dividend of $0.46. Community Trust Bancorp’s dividend payout ratio (DPR) is currently 42.69%.

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.