Keystone Financial Group Invests $571,000 in Community Trust Bancorp, Inc. (NASDAQ:CTBI)

Keystone Financial Group purchased a new stake in Community Trust Bancorp, Inc. (NASDAQ:CTBI - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,474 shares of the financial services provider's stock, valued at approximately $571,000. Keystone Financial Group owned approximately 0.06% of Community Trust Bancorp at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Sterling Capital Management LLC grew its position in Community Trust Bancorp by 5.6% during the 4th quarter. Sterling Capital Management LLC now owns 8,343 shares of the financial services provider's stock worth $442,000 after acquiring an additional 440 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Community Trust Bancorp during the fourth quarter worth approximately $1,860,000. Invesco Ltd. grew its stake in shares of Community Trust Bancorp by 8.9% during the fourth quarter. Invesco Ltd. now owns 34,494 shares of the financial services provider's stock worth $1,829,000 after purchasing an additional 2,805 shares during the period. Polymer Capital Management US LLC acquired a new position in shares of Community Trust Bancorp during the 4th quarter worth about $227,000. Finally, Federated Hermes Inc. bought a new position in shares of Community Trust Bancorp during the fourth quarter worth $46,000. 60.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CTBI has been the subject of a number of research reports. Piper Sandler lowered their target price on Community Trust Bancorp from $60.00 to $56.00 and set an "overweight" rating for the company in a research note on Thursday. Raymond James lowered their price objective on shares of Community Trust Bancorp from $60.00 to $58.00 and set an "outperform" rating on the stock in a report on Wednesday, April 2nd.

Community Trust Bancorp Stock Down 0.8 %

NASDAQ CTBI traded down $0.37 during trading hours on Friday, hitting $47.19. 72,315 shares of the company traded hands, compared to its average volume of 55,377. The stock has a market capitalization of $854.23 million, a price-to-earnings ratio of 10.24 and a beta of 0.55. Community Trust Bancorp, Inc. has a twelve month low of $39.72 and a twelve month high of $61.67. The business's 50-day moving average is $51.26 and its 200-day moving average is $53.30. 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 released its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.22 EPS for the quarter, beating the consensus estimate of $1.19 by $0.03. The firm had revenue of $66.16 million for the quarter, compared to the consensus estimate of $64.92 million. Community Trust Bancorp had a net margin of 22.02% and a return on equity of 11.36%. During the same period in the previous year, the company earned $1.04 earnings per share. Sell-side analysts anticipate that Community Trust Bancorp, Inc. will post 5.06 earnings per share for the current year.

Community Trust Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Saturday, March 15th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.98%. The ex-dividend date was Friday, March 14th. Community Trust Bancorp's payout ratio is 40.78%.

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.