Los Angeles Capital Management LLC Decreases Holdings in Community Trust Bancorp, Inc. (NASDAQ:CTBI)

Los Angeles Capital Management LLC lowered its stake in Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 8.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,515 shares of the financial services provider’s stock after selling 600 shares during the period. Los Angeles Capital Management LLC’s holdings in Community Trust Bancorp were worth $345,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its stake in shares of Community Trust Bancorp by 34.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 95,233 shares of the financial services provider’s stock valued at $4,729,000 after purchasing an additional 24,622 shares during the last quarter. Barclays PLC raised its holdings in Community Trust Bancorp by 45.8% during the 3rd quarter. Barclays PLC now owns 50,376 shares of the financial services provider’s stock valued at $2,502,000 after buying an additional 15,832 shares during the period. Kovitz Investment Group Partners LLC purchased a new stake in Community Trust Bancorp during the 3rd quarter valued at $786,000. Thrivent Financial for Lutherans lifted its position in Community Trust Bancorp by 23.9% in the third quarter. Thrivent Financial for Lutherans now owns 80,948 shares of the financial services provider’s stock worth $4,020,000 after buying an additional 15,619 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in Community Trust Bancorp by 95.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 26,620 shares of the financial services provider’s stock worth $1,412,000 after buying an additional 13,012 shares during the period. Hedge funds and other institutional investors own 60.20% of the company’s stock.

Community Trust Bancorp Stock Up 0.2 %

Community Trust Bancorp stock opened at $54.68 on Tuesday. The business’s 50-day moving average price is $53.84 and its 200 day moving average price is $53.15. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.09. The firm has a market cap of $987.41 million, a price-to-earnings ratio of 11.86 and a beta of 0.67. Community Trust Bancorp, Inc. has a 52 week low of $38.53 and a 52 week high of $61.67.

Community Trust Bancorp (NASDAQ:CTBI) last issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.05. Community Trust Bancorp had a net margin of 22.02% and a return on equity of 11.36%. During the same quarter in the previous year, the business posted $1.04 EPS. As a group, sell-side analysts anticipate that Community Trust Bancorp, Inc. will post 5.06 earnings per share for the current year.

Community Trust Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Saturday, March 15th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.88 dividend on an annualized basis and a yield of 3.44%. Community Trust Bancorp’s payout ratio is 40.78%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler reissued an “overweight” rating and issued a $64.00 price objective on shares of Community Trust Bancorp in a research report on Friday, November 8th.

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.