Raymond James Financial Inc. Buys Shares of 35,082 Community Trust Bancorp, Inc. (NASDAQ:CTBI)

Raymond James Financial Inc. bought a new stake in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 35,082 shares of the financial services provider's stock, valued at approximately $1,860,000. Raymond James Financial Inc. owned 0.19% of Community Trust Bancorp at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Barclays PLC increased its stake in shares of 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 acquiring an additional 15,832 shares during the period. JPMorgan Chase & Co. increased its position in shares of Community Trust Bancorp by 34.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 95,233 shares of the financial services provider's stock valued at $4,729,000 after purchasing an additional 24,622 shares during the period. Merit Financial Group LLC increased its position in shares of Community Trust Bancorp by 9.7% during the 4th quarter. Merit Financial Group LLC now owns 5,217 shares of the financial services provider's stock valued at $277,000 after purchasing an additional 462 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in shares of Community Trust Bancorp in the 4th quarter worth $319,000. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Community Trust Bancorp by 95.6% in 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 during the period. 60.20% of the stock is currently owned by institutional investors.

Community Trust Bancorp Price Performance

CTBI stock traded down $0.77 on Friday, hitting $46.61. 86,682 shares of the company's stock traded hands, compared to its average volume of 54,307. The stock has a market cap of $843.73 million, a price-to-earnings ratio of 10.11 and a beta of 0.62. Community Trust Bancorp, Inc. has a 1-year low of $39.28 and a 1-year high of $61.67. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.09. The stock has a fifty day moving average of $52.98 and a 200-day moving average of $53.51.

Community Trust Bancorp (NASDAQ:CTBI - Get Free Report) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.25 EPS for the quarter, beating analysts' consensus estimates of $1.20 by $0.05. Community Trust Bancorp had a return on equity of 11.36% and a net margin of 22.02%. During the same quarter in the prior year, the firm posted $1.04 earnings per share. On average, analysts forecast that Community Trust Bancorp, Inc. will post 5.06 EPS for the current fiscal year.

Community Trust Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Saturday, March 15th were given a $0.47 dividend. The ex-dividend date was Friday, March 14th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 4.03%. Community Trust Bancorp's dividend payout ratio (DPR) is 40.78%.

Analyst Ratings Changes

Separately, Raymond James lowered 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.

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.