LSV Asset Management Sells 18,800 Shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI)

LSV Asset Management cut its stake in Community Trust Bancorp, Inc. (NASDAQ:CTBI - Free Report) by 6.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 255,427 shares of the financial services provider's stock after selling 18,800 shares during the period. LSV Asset Management owned 1.41% of Community Trust Bancorp worth $13,545,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CTBI. Geode Capital Management LLC lifted its position in shares of Community Trust Bancorp by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 374,544 shares of the financial services provider's stock worth $19,866,000 after purchasing an additional 1,386 shares during the period. American Century Companies Inc. lifted its holdings in Community Trust Bancorp by 11.4% in the fourth quarter. American Century Companies Inc. now owns 350,755 shares of the financial services provider's stock valued at $18,601,000 after buying an additional 35,777 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Community Trust Bancorp by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 126,276 shares of the financial services provider's stock valued at $6,696,000 after acquiring an additional 904 shares during the last quarter. JPMorgan Chase & Co. grew its holdings 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 period. Finally, Hillsdale Investment Management Inc. bought a new position in shares of Community Trust Bancorp in the 4th quarter worth about $3,732,000. 60.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on CTBI shares. Raymond James decreased their target price on Community Trust Bancorp from $60.00 to $58.00 and set an "outperform" rating for the company in a research note on Wednesday, April 2nd. Piper Sandler reduced their price objective on shares of Community Trust Bancorp from $60.00 to $56.00 and set an "overweight" rating for the company in a research report on Thursday.

Community Trust Bancorp Stock Down 0.8 %

Shares of CTBI stock traded down $0.37 on Friday, reaching $47.19. 72,315 shares of the company were exchanged, compared to its average volume of 55,377. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.90 and a quick ratio of 0.90. The company has a 50-day moving average of $51.26 and a 200-day moving average of $53.30. The company has a market cap of $854.23 million, a price-to-earnings ratio of 10.24 and a beta of 0.55. Community Trust Bancorp, Inc. has a one year low of $39.72 and a one year high of $61.67.

Community Trust Bancorp (NASDAQ:CTBI - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.03. Community Trust Bancorp had a return on equity of 11.36% and a net margin of 22.02%. The business had revenue of $66.16 million for the quarter, compared to analyst estimates of $64.92 million. During the same quarter in the prior year, the company earned $1.04 earnings per share. Analysts anticipate that Community Trust Bancorp, Inc. will post 5.06 earnings per share for the current 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 issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.88 annualized dividend and a yield of 3.98%. Community Trust Bancorp's payout ratio is 40.78%.

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.