Hsbc Holdings PLC Acquires 7,304 Shares of Community Trust Bancorp, Inc. $CTBI

Hsbc Holdings PLC grew its holdings in Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 50.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 21,728 shares of the financial services provider’s stock after buying an additional 7,304 shares during the quarter. Hsbc Holdings PLC owned approximately 0.12% of Community Trust Bancorp worth $1,227,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Mercer Global Advisors Inc. ADV purchased a new position in shares of Community Trust Bancorp during the 4th quarter worth approximately $227,000. Empowered Funds LLC lifted its stake in shares of Community Trust Bancorp by 9.3% in the 4th quarter. Empowered Funds LLC now owns 76,310 shares of the financial services provider’s stock valued at $4,312,000 after purchasing an additional 6,507 shares during the period. Garton & Associates Financial Advisors LLC bought a new stake in shares of Community Trust Bancorp during the fourth quarter valued at approximately $30,000. Tudor Investment Corp ET AL boosted its position in shares of Community Trust Bancorp by 198.3% during the fourth quarter. Tudor Investment Corp ET AL now owns 16,895 shares of the financial services provider’s stock valued at $955,000 after purchasing an additional 11,231 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in Community Trust Bancorp by 1,175.0% in the fourth quarter. Janus Henderson Group PLC now owns 89,925 shares of the financial services provider’s stock worth $5,081,000 after purchasing an additional 82,872 shares during the period. 60.20% of the stock is owned by hedge funds and other institutional investors.

Community Trust Bancorp Stock Up 2.4%

Shares of Community Trust Bancorp stock opened at $74.07 on Thursday. The company has a 50-day simple moving average of $67.46 and a two-hundred day simple moving average of $63.25. The stock has a market capitalization of $1.35 billion, a PE ratio of 12.97 and a beta of 0.54. Community Trust Bancorp, Inc. has a 52-week low of $50.25 and a 52-week high of $74.52. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.92 and a current ratio of 0.92.

Community Trust Bancorp (NASDAQ:CTBI) last posted its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.11. The firm had revenue of $74.20 million for the quarter, compared to analysts’ expectations of $73.00 million. Community Trust Bancorp had a net margin of 24.85% and a return on equity of 12.27%. On average, analysts anticipate that Community Trust Bancorp, Inc. will post 6.13 EPS for the current fiscal year.

Community Trust Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Monday, June 15th. Community Trust Bancorp’s dividend payout ratio is presently 37.13%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CTBI shares. Weiss Ratings upgraded shares of Community Trust Bancorp from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, May 18th. Zacks Research cut Community Trust Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. Finally, Piper Sandler initiated coverage on Community Trust Bancorp in a research note on Thursday, June 11th. They issued a “neutral” rating and a $76.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $68.50.

Community Trust Bancorp Profile

Community Trust Bancorp, Inc is a bank holding company headquartered in Pikeville, Kentucky. As the parent of Community Trust Bank, the company provides a comprehensive range of banking services to individuals, families and businesses throughout eastern Kentucky, southern West Virginia and northeast Tennessee. With origins dating back to the early 20th century, the organization has built a reputation for supporting community development and regional economic growth across the Appalachian region.

The company’s personal banking offerings include checking and savings accounts, consumer installment loans, home equity and mortgage lending, as well as online and mobile banking platforms.