JPMorgan Chase & Co. Has $6.32 Million Stake in Community Trust Bancorp, Inc. (NASDAQ:CTBI)

JPMorgan Chase & Co. increased its position in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI - Free Report) by 25.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 119,197 shares of the financial services provider's stock after acquiring an additional 23,964 shares during the period. JPMorgan Chase & Co. owned about 0.66% of Community Trust Bancorp worth $6,321,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Hillsdale Investment Management Inc. bought a new position in Community Trust Bancorp during the fourth quarter valued at about $3,732,000. American Century Companies Inc. raised its holdings in Community Trust Bancorp by 11.4% during 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 in the last quarter. Raymond James Financial Inc. bought a new position in Community Trust Bancorp during the fourth quarter valued at about $1,860,000. Barclays PLC raised its holdings in Community Trust Bancorp by 45.8% during the third quarter. Barclays PLC now owns 50,376 shares of the financial services provider's stock valued at $2,502,000 after buying an additional 15,832 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in Community Trust Bancorp by 95.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 26,620 shares of the financial services provider's stock valued at $1,412,000 after buying an additional 13,012 shares in the last quarter. 60.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on CTBI. Raymond James cut their target price on Community Trust Bancorp from $60.00 to $58.00 and set an "outperform" rating on the stock in a report on Wednesday, April 2nd. Piper Sandler lowered their price target on Community Trust Bancorp from $60.00 to $56.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th.

Community Trust Bancorp Stock Performance

Shares of NASDAQ:CTBI traded up $1.52 during midday trading on Wednesday, hitting $50.04. The company's stock had a trading volume of 3,582 shares, compared to its average volume of 55,375. The stock has a market capitalization of $905.82 million, a price-to-earnings ratio of 10.85 and a beta of 0.55. The stock's 50 day simple moving average is $50.91 and its 200 day simple moving average is $53.37. Community Trust Bancorp, Inc. has a fifty-two week low of $40.19 and a fifty-two week high of $61.67. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.90 and a current ratio of 0.90.

Community Trust Bancorp (NASDAQ:CTBI - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.03. The company had revenue of $66.16 million for the quarter, compared to the consensus estimate of $64.92 million. Community Trust Bancorp had a return on equity of 11.36% and a net margin of 22.02%. During the same period last year, the business posted $1.04 earnings per share. As a group, research analysts anticipate that Community Trust Bancorp, Inc. will post 5.06 earnings per share for the current year.

Community Trust Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Sunday, June 15th will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.76%. Community Trust Bancorp's dividend payout ratio is currently 39.25%.

Community Trust Bancorp Company 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.