Community Trust Bancorp, Inc. (NASDAQ:CTBI) Shares Acquired by Quest Partners LLC

Quest Partners LLC grew its holdings in Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 99.2% during the third quarter, HoldingsChannel reports. The fund owned 10,483 shares of the financial services provider’s stock after purchasing an additional 5,221 shares during the period. Quest Partners LLC’s holdings in Community Trust Bancorp were worth $521,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CTBI. Innealta Capital LLC acquired a new stake in Community Trust Bancorp during the second quarter worth approximately $37,000. EntryPoint Capital LLC acquired a new stake in Community Trust Bancorp during the 1st quarter worth $78,000. Coastline Trust Co acquired a new stake in Community Trust Bancorp during the 3rd quarter worth $79,000. CWM LLC lifted its position in Community Trust Bancorp by 1,932.0% in the second quarter. CWM LLC now owns 2,601 shares of the financial services provider’s stock valued at $114,000 after acquiring an additional 2,473 shares during the last quarter. Finally, EMC Capital Management acquired a new position in Community Trust Bancorp in the first quarter valued at $119,000. Institutional investors and hedge funds own 60.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CTBI. Piper Sandler reiterated an “overweight” rating and set a $64.00 target price on shares of Community Trust Bancorp in a research report on Friday, November 8th. Raymond James raised 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 Trading Up 1.8 %

NASDAQ CTBI opened at $59.68 on Friday. The firm’s fifty day moving average is $52.45 and its two-hundred day moving average is $47.83. Community Trust Bancorp, Inc. has a one year low of $38.44 and a one year high of $61.60. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market cap of $1.08 billion, a PE ratio of 13.56 and a beta of 0.63.

Community Trust Bancorp (NASDAQ:CTBI) last posted its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.08. The company had revenue of $95.38 million during the quarter, compared to analysts’ expectations of $62.00 million. Community Trust Bancorp had a return on equity of 10.93% and a net margin of 21.64%. Analysts expect that Community Trust Bancorp, Inc. will post 4.56 earnings per share for the current year.

Community Trust Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Sunday, December 15th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.88 annualized dividend and a yield of 3.15%. Community Trust Bancorp’s dividend payout ratio is currently 42.73%.

About Community Trust Bancorp

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.