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

Hsbc Holdings PLC boosted its holdings in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 50.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 21,728 shares of the financial services provider’s stock after acquiring an additional 7,304 shares during the quarter. Hsbc Holdings PLC’s holdings in Community Trust Bancorp were worth $1,227,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of CTBI. SG Americas Securities LLC boosted its position in Community Trust Bancorp by 462.8% during the 4th quarter. SG Americas Securities LLC now owns 36,957 shares of the financial services provider’s stock valued at $2,088,000 after acquiring an additional 30,390 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Community Trust Bancorp by 24.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 92,224 shares of the financial services provider’s stock worth $5,160,000 after acquiring an additional 18,387 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Community Trust Bancorp in the 4th quarter worth $1,892,000. LSV Asset Management lifted its stake in shares of Community Trust Bancorp by 14.9% during the 4th quarter. LSV Asset Management now owns 280,380 shares of the financial services provider’s stock worth $15,841,000 after purchasing an additional 36,300 shares during the last quarter. Finally, UBS Group AG boosted its position in Community Trust Bancorp by 10.8% during the fourth quarter. UBS Group AG now owns 97,393 shares of the financial services provider’s stock valued at $5,503,000 after purchasing an additional 9,527 shares in the last quarter. Institutional investors own 60.20% of the company’s stock.

Wall Street Analyst Weigh In

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

Community Trust Bancorp Price Performance

NASDAQ:CTBI opened at $72.04 on Monday. The company has a market cap of $1.31 billion, a PE ratio of 12.62 and a beta of 0.54. Community Trust Bancorp, Inc. has a twelve month low of $50.25 and a twelve month high of $74.57. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.08. The company’s 50 day moving average is $68.41 and its two-hundred day moving average is $63.85.

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

Community Trust Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.9%. The ex-dividend date was Monday, June 15th. Community Trust Bancorp’s dividend payout ratio is currently 37.13%.

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.