Community Trust Bancorp, Inc. (NASDAQ:CTBI) Shares Sold by Fmr LLC

FMR LLC cut its stake in Community Trust Bancorp, Inc. (NASDAQ:CTBI - Free Report) by 20.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 208,373 shares of the financial services provider's stock after selling 53,807 shares during the period. FMR LLC owned approximately 1.15% of Community Trust Bancorp worth $10,348,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of CTBI. Innealta Capital LLC purchased a new stake in shares of Community Trust Bancorp in the 2nd quarter worth about $37,000. Coastline Trust Co acquired a new position in Community Trust Bancorp during the third quarter worth about $79,000. CWM LLC lifted its holdings in shares of Community Trust Bancorp by 1,932.0% in the second 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 in the last quarter. Comerica Bank purchased a new stake in shares of Community Trust Bancorp in the first quarter valued at about $185,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Community Trust Bancorp in the third quarter valued at approximately $209,000. 60.20% of the stock is currently owned by institutional investors and hedge funds.

Community Trust Bancorp Trading Down 1.2 %

Shares of NASDAQ CTBI traded down $0.70 during midday trading on Thursday, reaching $58.39. 46,335 shares of the stock were exchanged, compared to its average volume of 50,032. The stock has a 50 day moving average price of $55.05 and a 200-day moving average price of $49.25. 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 company has a market capitalization of $1.05 billion, a P/E ratio of 13.43 and a beta of 0.66. Community Trust Bancorp, Inc. has a 52-week low of $38.44 and a 52-week high of $61.67.

Community Trust Bancorp (NASDAQ:CTBI - Get Free Report) last released its earnings results on Wednesday, October 16th. The financial services provider reported $1.23 EPS for the quarter, topping the consensus estimate of $1.15 by $0.08. The firm had revenue of $95.38 million during the quarter, compared to analysts' expectations of $62.00 million. Community Trust Bancorp had a net margin of 21.64% and a return on equity of 10.93%. Equities research analysts expect that Community Trust Bancorp, Inc. will post 4.56 earnings per share for the current fiscal year.

Community Trust Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Sunday, December 15th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.88 annualized dividend and a yield of 3.22%. Community Trust Bancorp's payout ratio is currently 42.73%.

Analyst Upgrades and Downgrades

CTBI has been the subject of several research reports. Piper Sandler restated an "overweight" rating and set a $64.00 price objective 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 target for the company in a 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.