Hennion & Walsh Asset Management Inc. Increases Stock Position in Community Trust Bancorp, Inc. (NASDAQ:CTBI)

Hennion & Walsh Asset Management Inc. increased its position in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 12.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,015 shares of the financial services provider’s stock after purchasing an additional 1,367 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Community Trust Bancorp were worth $512,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Parallel Advisors LLC boosted its stake in shares of Community Trust Bancorp by 77.8% in the 4th quarter. Parallel Advisors LLC now owns 704 shares of the financial services provider’s stock worth $31,000 after buying an additional 308 shares during the last quarter. SG Americas Securities LLC purchased a new position in Community Trust Bancorp in the fourth quarter worth $109,000. Quest Partners LLC bought a new position in Community Trust Bancorp in the 4th quarter valued at $151,000. PBMares Wealth Management LLC purchased a new stake in shares of Community Trust Bancorp during the 4th quarter valued at $201,000. Finally, Chatham Capital Group Inc. bought a new stake in shares of Community Trust Bancorp during the 4th quarter worth $234,000. 60.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Janney Montgomery Scott assumed coverage on shares of Community Trust Bancorp in a research report on Wednesday, March 27th. They set a “buy” rating and a $49.00 price target for the company.

Community Trust Bancorp Price Performance

Community Trust Bancorp stock opened at $43.50 on Wednesday. The business’s 50 day simple moving average is $42.47 and its 200 day simple moving average is $41.66. Community Trust Bancorp, Inc. has a 12 month low of $33.48 and a 12 month high of $45.74. The company has a market cap of $784.31 million, a price-to-earnings ratio of 10.09 and a beta of 0.66. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.10.

Community Trust Bancorp (NASDAQ:CTBI) last issued its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.06. The firm had revenue of $59.02 million for the quarter, compared to analysts’ expectations of $56.51 million. Community Trust Bancorp had a return on equity of 11.36% and a net margin of 22.64%. Sell-side analysts forecast that Community Trust Bancorp, Inc. will post 4.2 EPS for the current year.

Community Trust Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Saturday, June 15th were issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 4.23%. The ex-dividend date was Friday, June 14th. Community Trust Bancorp’s dividend payout ratio (DPR) is presently 42.69%.

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.