Community Trust & Investment Co. Decreases Position in Community Trust Bancorp, Inc. (NASDAQ:CTBI)

Community Trust & Investment Co. trimmed its position in Community Trust Bancorp, Inc. (NASDAQ:CTBI - Free Report) by 4.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,921,379 shares of the financial services provider's stock after selling 81,845 shares during the quarter. Community Trust Bancorp accounts for 6.1% of Community Trust & Investment Co.'s portfolio, making the stock its largest position. Community Trust & Investment Co. owned about 10.66% of Community Trust Bancorp worth $95,416,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Creative Planning bought a new stake in Community Trust Bancorp in the third quarter valued at $498,000. Code Waechter LLC bought a new stake in Community Trust Bancorp in the third quarter valued at $425,000. CWM LLC grew its position 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 valued at $145,000 after acquiring an additional 317 shares during the period. SG Americas Securities LLC bought a new stake in Community Trust Bancorp in the third quarter valued at $209,000. Finally, Clifford Capital Partners LLC grew its position in Community Trust Bancorp by 7.8% in the second quarter. Clifford Capital Partners LLC now owns 324,515 shares of the financial services provider's stock valued at $14,168,000 after acquiring an additional 23,564 shares during the period. 60.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Raymond James upgraded 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.

Community Trust Bancorp Price Performance

Shares of CTBI stock traded up $0.41 during trading hours on Wednesday, hitting $52.26. 37,401 shares of the company's stock were exchanged, compared to its average volume of 48,900. The stock's 50-day moving average is $49.05 and its 200-day moving average is $45.60. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market cap of $943.29 million, a price-to-earnings ratio of 11.78 and a beta of 0.64. Community Trust Bancorp, Inc. has a 52 week low of $36.00 and a 52 week high of $53.50.

Community Trust Bancorp (NASDAQ:CTBI - Get Free Report) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.23 EPS for the quarter, topping the consensus estimate of $1.15 by $0.08. The company had revenue of $95.38 million for the quarter, compared to analysts' expectations of $62.00 million. Community Trust Bancorp had a return on equity of 11.13% and a net margin of 21.64%. As a group, research analysts forecast that Community Trust Bancorp, Inc. will post 4.55 EPS for the current year.

Community Trust Bancorp Dividend Announcement

The company also recently declared 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. This represents a $1.88 annualized dividend and a yield of 3.60%. Community Trust Bancorp's dividend payout ratio is 42.73%.

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.