Thrivent Financial for Lutherans Grows Position in Community Trust Bancorp, Inc. (NASDAQ:CTBI)

Thrivent Financial for Lutherans lifted its holdings in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 23.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,948 shares of the financial services provider’s stock after purchasing an additional 15,619 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Community Trust Bancorp were worth $4,020,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CTBI. Thoroughbred Financial Services LLC bought a new position in shares of Community Trust Bancorp in the 2nd quarter worth $2,891,000. AQR Capital Management LLC raised its position in Community Trust Bancorp by 37.8% during the second quarter. AQR Capital Management LLC now owns 188,707 shares of the financial services provider’s stock valued at $8,239,000 after purchasing an additional 51,765 shares in the last quarter. American Century Companies Inc. lifted its stake in Community Trust Bancorp by 20.5% during the second quarter. American Century Companies Inc. now owns 274,759 shares of the financial services provider’s stock worth $11,996,000 after purchasing an additional 46,745 shares during the last quarter. Clifford Capital Partners LLC boosted its holdings in shares of Community Trust Bancorp by 7.8% in the 2nd quarter. Clifford Capital Partners LLC now owns 324,515 shares of the financial services provider’s stock worth $14,168,000 after purchasing an additional 23,564 shares in the last quarter. Finally, Bank of Montreal Can bought a new position in shares of Community Trust Bancorp during the 2nd quarter valued at about $764,000. 60.20% of the stock is currently owned by institutional investors.

Community Trust Bancorp Stock Performance

Shares of Community Trust Bancorp stock opened at $59.68 on Monday. Community Trust Bancorp, Inc. has a 12 month low of $38.44 and a 12 month high of $61.60. The firm has a market capitalization of $1.08 billion, a P/E ratio of 13.56 and a beta of 0.63. 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 business has a fifty day simple moving average of $52.45 and a two-hundred day simple moving average of $47.86.

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

Community Trust Bancorp Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Raymond James upgraded shares of Community Trust Bancorp from a “market perform” rating to an “outperform” rating and set a $60.00 price objective for the company in a report on Friday, October 18th. Piper Sandler reissued an “overweight” rating and issued a $64.00 price target on shares of Community Trust Bancorp in a research note on Friday, November 8th.

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.