JPMorgan Chase & Co. Buys 24,622 Shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI)

JPMorgan Chase & Co. lifted its stake in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI - Free Report) by 34.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 95,233 shares of the financial services provider's stock after buying an additional 24,622 shares during the quarter. JPMorgan Chase & Co. owned about 0.53% of Community Trust Bancorp worth $4,729,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of CTBI. The Manufacturers Life Insurance Company grew its holdings in Community Trust Bancorp by 4.0% in the second quarter. The Manufacturers Life Insurance Company now owns 6,112 shares of the financial services provider's stock worth $267,000 after purchasing an additional 234 shares during the period. CWM LLC grew its holdings in Community Trust Bancorp by 12.2% in the third quarter. CWM LLC now owns 2,918 shares of the financial services provider's stock worth $145,000 after purchasing an additional 317 shares during the period. Renaissance Technologies LLC grew its holdings in Community Trust Bancorp by 0.3% in the second quarter. Renaissance Technologies LLC now owns 143,382 shares of the financial services provider's stock worth $6,260,000 after purchasing an additional 500 shares during the period. Franklin Resources Inc. grew its holdings in Community Trust Bancorp by 9.7% in the third quarter. Franklin Resources Inc. now owns 10,044 shares of the financial services provider's stock worth $503,000 after purchasing an additional 889 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings in Community Trust Bancorp by 33.7% in the third quarter. BNP Paribas Financial Markets now owns 4,285 shares of the financial services provider's stock worth $213,000 after purchasing an additional 1,079 shares during the period. Hedge funds and other institutional investors own 60.20% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CTBI. Raymond James upgraded shares of Community Trust Bancorp from a "market perform" rating to an "outperform" rating and set a $60.00 target price on the stock in a research note on Friday, October 18th. Piper Sandler reiterated an "overweight" rating and issued a $64.00 target price on shares of Community Trust Bancorp in a research note on Friday, November 8th.

Community Trust Bancorp Stock Up 1.3 %

Shares of NASDAQ CTBI traded up $0.68 during midday trading on Friday, hitting $53.80. The stock had a trading volume of 62,574 shares, compared to its average volume of 51,774. The business's 50 day moving average is $56.12 and its 200-day moving average is $51.44. The company has a market cap of $971.63 million, a P/E ratio of 12.23 and a beta of 0.67. Community Trust Bancorp, Inc. has a 52 week low of $38.44 and a 52 week 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 issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.25 earnings per share for the quarter, beating analysts' consensus estimates of $1.20 by $0.05. Community Trust Bancorp had a net margin of 21.64% and a return on equity of 10.93%. During the same quarter in the prior year, the business earned $1.04 EPS. As a group, analysts predict that Community Trust Bancorp, Inc. will post 4.56 EPS for the current year.

Community Trust Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Sunday, December 15th were given a dividend of $0.47 per share. The ex-dividend date was Friday, December 13th. This represents a $1.88 dividend on an annualized basis and a yield of 3.49%. Community Trust Bancorp's dividend payout ratio (DPR) is 42.73%.

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.