Arrowstreet Capital Limited Partnership Sells 66,145 Shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI)

Arrowstreet Capital Limited Partnership reduced its stake in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI - Free Report) by 46.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,401 shares of the financial services provider's stock after selling 66,145 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.43% of Community Trust Bancorp worth $4,105,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CTBI. JPMorgan Chase & Co. grew its position in Community Trust Bancorp by 25.2% during the 4th quarter. JPMorgan Chase & Co. now owns 119,197 shares of the financial services provider's stock worth $6,321,000 after acquiring an additional 23,964 shares during the last quarter. EntryPoint Capital LLC acquired a new position in Community Trust Bancorp in the fourth quarter worth $202,000. LPL Financial LLC grew its holdings in shares of Community Trust Bancorp by 6.6% during the fourth quarter. LPL Financial LLC now owns 4,964 shares of the financial services provider's stock worth $263,000 after purchasing an additional 307 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Community Trust Bancorp in the fourth quarter valued at $646,000. Finally, Hillsdale Investment Management Inc. bought a new position in shares of Community Trust Bancorp in the fourth quarter valued at about $3,732,000. Institutional investors and hedge funds own 60.20% of the company's stock.

Community Trust Bancorp Trading Up 1.6 %

NASDAQ:CTBI traded up $0.75 during trading hours on Monday, hitting $46.39. 24,846 shares of the stock were exchanged, compared to its average volume of 64,224. The company's 50 day moving average is $51.98 and its two-hundred day moving average is $53.42. The company has a market capitalization of $839.73 million, a P/E ratio of 10.03 and a beta of 0.55. Community Trust Bancorp, Inc. has a twelve month low of $39.28 and a twelve month high of $61.67. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.09.

Community Trust Bancorp (NASDAQ:CTBI - Get Free Report) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.05. Community Trust Bancorp had a return on equity of 11.36% and a net margin of 22.02%. During the same period in the previous year, the business earned $1.04 EPS. On average, sell-side analysts anticipate that Community Trust Bancorp, Inc. will post 5.06 earnings per share for the current fiscal year.

Community Trust Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Saturday, March 15th were paid a $0.47 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.88 dividend on an annualized basis and a yield of 4.05%. Community Trust Bancorp's payout ratio is presently 40.78%.

Analysts Set New Price Targets

Separately, Raymond James decreased their price objective on shares of Community Trust Bancorp from $60.00 to $58.00 and set an "outperform" rating on the stock in a report on Wednesday, April 2nd.

Community Trust Bancorp 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.