Victory Capital Management Inc. Cuts Stock Position in Community Trust Bancorp, Inc. (NASDAQ:CTBI)

Victory Capital Management Inc. lessened its stake in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 9.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 7,676 shares of the financial services provider’s stock after selling 832 shares during the quarter. Victory Capital Management Inc.’s holdings in Community Trust Bancorp were worth $381,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Innealta Capital LLC purchased a new stake in shares of Community Trust Bancorp during the second quarter worth approximately $37,000. CWM LLC raised its stake in shares of Community Trust Bancorp by 1,932.0% during the second quarter. CWM LLC now owns 2,601 shares of the financial services provider’s stock worth $114,000 after purchasing an additional 2,473 shares during the last quarter. SG Americas Securities LLC purchased a new position in Community Trust Bancorp in the third quarter worth $209,000. Comerica Bank purchased a new position in Community Trust Bancorp in the first quarter worth $185,000. Finally, Quest Partners LLC raised its position in Community Trust Bancorp by 70.1% in the second quarter. Quest Partners LLC now owns 5,262 shares of the financial services provider’s stock worth $230,000 after acquiring an additional 2,168 shares in the last quarter. Hedge funds and other institutional investors own 60.20% of the company’s stock.

Community Trust Bancorp Trading Up 0.1 %

NASDAQ:CTBI opened at $58.98 on Friday. 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 stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 13.40 and a beta of 0.63. Community Trust Bancorp, Inc. has a 1 year low of $38.44 and a 1 year high of $61.67. The stock has a fifty day moving average price of $53.39 and a two-hundred day moving average price of $48.36.

Community Trust Bancorp (NASDAQ:CTBI) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.08. The company had revenue of $95.38 million for the quarter, compared to analyst estimates of $62.00 million. Community Trust Bancorp had a return on equity of 10.93% and a net margin of 21.64%. As a group, sell-side analysts anticipate that Community Trust Bancorp, Inc. will post 4.56 earnings per share for the current fiscal year.

Community Trust Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Sunday, December 15th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.19%. The ex-dividend date is Friday, December 13th. Community Trust Bancorp’s dividend payout ratio (DPR) is 42.73%.

Analyst Upgrades and Downgrades

CTBI has been the subject of several research analyst reports. Raymond James upgraded Community Trust Bancorp from a “market perform” rating to an “outperform” rating and set a $60.00 price objective for the company in a research report on Friday, October 18th. Piper Sandler reiterated an “overweight” rating and issued a $64.00 price objective on shares of Community Trust Bancorp in a research report on Friday, November 8th.

Community Trust Bancorp 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.