Kovitz Investment Group Partners LLC Invests $786,000 in Community Trust Bancorp, Inc. (NASDAQ:CTBI)

Kovitz Investment Group Partners LLC bought a new position in Community Trust Bancorp, Inc. (NASDAQ:CTBI - Free Report) during the third quarter, according to the company in its most recent filing with the SEC. The firm bought 15,825 shares of the financial services provider's stock, valued at approximately $786,000. Kovitz Investment Group Partners LLC owned 0.09% of Community Trust Bancorp as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its holdings in Community Trust Bancorp by 4.6% in the 1st 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 period. Comerica Bank bought a new stake in Community Trust Bancorp in the first quarter valued at $185,000. CWM LLC increased its position in Community Trust Bancorp by 1,932.0% during the 2nd quarter. CWM LLC now owns 2,601 shares of the financial services provider's stock valued at $114,000 after purchasing an additional 2,473 shares during the period. Innealta Capital LLC bought a new position in Community Trust Bancorp in the 2nd quarter worth $37,000. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Community Trust Bancorp in the 2nd quarter worth about $337,000. 60.20% of the stock is owned by institutional investors.

Community Trust Bancorp Stock Down 0.8 %

Community Trust Bancorp stock traded down $0.45 on Thursday, hitting $58.64. 26,167 shares of the stock traded hands, compared to its average volume of 49,942. Community Trust Bancorp, Inc. has a 1 year low of $38.44 and a 1 year high of $61.67. The firm has a market cap of $1.06 billion, a P/E ratio of 13.43 and a beta of 0.66. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.09. The business's fifty day simple moving average is $55.05 and its 200 day simple moving average is $49.25.

Community Trust Bancorp (NASDAQ:CTBI - Get Free Report) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $95.38 million during the quarter, compared to analyst estimates of $62.00 million. As a group, sell-side 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. Stockholders of record on Sunday, December 15th will be given a $0.47 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.21%. Community Trust Bancorp's dividend payout ratio is currently 42.73%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CTBI. Piper Sandler reiterated an "overweight" rating and set a $64.00 price target on shares of Community Trust Bancorp in a research report on Friday, November 8th. Raymond James raised 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 report on Friday, October 18th.

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.