Hotchkis & Wiley Capital Management LLC Sells 11,320 Shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI)

Hotchkis & Wiley Capital Management LLC reduced its position in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI - Free Report) by 7.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 140,114 shares of the financial services provider's stock after selling 11,320 shares during the period. Hotchkis & Wiley Capital Management LLC owned approximately 0.78% of Community Trust Bancorp worth $6,958,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Innealta Capital LLC acquired a new position in shares of Community Trust Bancorp in the 2nd quarter worth $37,000. Quantbot Technologies LP acquired a new stake in Community Trust Bancorp during the 3rd quarter worth about $63,000. Coastline Trust Co purchased a new stake in Community Trust Bancorp during the third quarter valued at about $79,000. CWM LLC boosted 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 worth $114,000 after buying an additional 2,473 shares during the period. Finally, Comerica Bank purchased a new position in shares of Community Trust Bancorp in the first quarter worth approximately $185,000. 60.20% of the stock is currently owned by institutional investors.

Community Trust Bancorp Stock Down 0.8 %

CTBI stock traded down $0.46 during midday trading on Friday, reaching $58.40. The company had a trading volume of 31,983 shares, compared to its average volume of 49,819. The company has a 50 day moving average of $54.23 and a two-hundred day moving average of $48.78. The company has a market capitalization of $1.05 billion, a P/E ratio of 13.38 and a beta of 0.66. Community Trust Bancorp, Inc. has a 1 year low of $38.44 and a 1 year high of $61.67. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.09.

Community Trust Bancorp (NASDAQ:CTBI - Get Free Report) last announced its quarterly earnings data 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 return on equity of 10.93% and a net margin of 21.64%. The business had revenue of $95.38 million during the quarter, compared to analyst estimates of $62.00 million. On average, equities research analysts expect that Community Trust Bancorp, Inc. will post 4.56 earnings per share for the current fiscal year.

Community Trust Bancorp Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Piper Sandler reaffirmed an "overweight" rating and issued a $64.00 price objective on shares of Community Trust Bancorp in a research note 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 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.