BlackRock Inc. Raises Holdings in Community Trust Bancorp, Inc. (CTBI)

BlackRock Inc. lifted its holdings in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 4.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,186,464 shares of the financial services provider’s stock after buying an additional 49,447 shares during the period. BlackRock Inc. owned approximately 6.69% of Community Trust Bancorp worth $59,265,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CTBI. Schwab Charles Investment Management Inc. boosted its stake in shares of Community Trust Bancorp by 3.6% during the first quarter. Schwab Charles Investment Management Inc. now owns 89,205 shares of the financial services provider’s stock worth $4,033,000 after buying an additional 3,109 shares during the period. Northern Trust Corp boosted its stake in shares of Community Trust Bancorp by 0.4% during the first quarter. Northern Trust Corp now owns 563,564 shares of the financial services provider’s stock worth $25,474,000 after buying an additional 2,413 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Community Trust Bancorp by 5.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,065,366 shares of the financial services provider’s stock worth $48,155,000 after buying an additional 53,256 shares during the period. Allianz Asset Management GmbH acquired a new stake in shares of Community Trust Bancorp during the first quarter worth about $3,573,000. Finally, Millennium Management LLC boosted its stake in shares of Community Trust Bancorp by 1,850.8% during the first quarter. Millennium Management LLC now owns 88,877 shares of the financial services provider’s stock worth $4,017,000 after buying an additional 84,321 shares during the period. Institutional investors and hedge funds own 57.91% of the company’s stock.

In other Community Trust Bancorp news, Director Charles J. Baird sold 2,000 shares of the stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $50.47, for a total value of $100,940.00. Following the completion of the transaction, the director now directly owns 7,700 shares of the company’s stock, valued at $388,619. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Charles Wayne Hancock II sold 530 shares of the stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $49.66, for a total transaction of $26,319.80. Following the completion of the transaction, the insider now directly owns 959 shares of the company’s stock, valued at $47,623.94. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,859 shares of company stock valued at $342,556. 4.80% of the stock is owned by insiders.

Shares of NASDAQ:CTBI opened at $42.94 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market capitalization of $821.75 million, a P/E ratio of 15.34 and a beta of 0.54. Community Trust Bancorp, Inc. has a 52 week low of $42.42 and a 52 week high of $53.00.

Community Trust Bancorp (NASDAQ:CTBI) last announced its quarterly earnings data on Wednesday, July 18th. The financial services provider reported $0.82 EPS for the quarter, missing the Zacks’ consensus estimate of $0.83 by ($0.01). The firm had revenue of $48.89 million during the quarter, compared to analyst estimates of $48.16 million. Community Trust Bancorp had a net margin of 26.11% and a return on equity of 10.65%. On average, sell-side analysts anticipate that Community Trust Bancorp, Inc. will post 3.4 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Investors of record on Saturday, September 15th were given a $0.36 dividend. The ex-dividend date of this dividend was Thursday, September 13th. This represents a $1.44 dividend on an annualized basis and a yield of 3.35%. This is an increase from Community Trust Bancorp’s previous quarterly dividend of $0.33. Community Trust Bancorp’s dividend payout ratio (DPR) is presently 51.43%.

Several brokerages have recently weighed in on CTBI. Zacks Investment Research upgraded shares of Community Trust Bancorp from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research note on Tuesday, September 18th. BidaskClub downgraded shares of Community Trust Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, June 30th. Finally, ValuEngine upgraded shares of Community Trust Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday.

Community Trust Bancorp Company Profile

Community Trust Bancorp, Inc operates as the bank holding company for Community Trust Bank, Inc that provides commercial and personal banking services to small and mid-sized communities. The company accepts time and demand deposits, Keogh plans, and savings certificates, as well as checking and savings, individual retirement, NOW, and money market accounts.

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Institutional Ownership by Quarter for Community Trust Bancorp (NASDAQ:CTBI)

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