Key Points
- Director Franky Minnifield sold 3,900 Community Trust Bancorp shares for $307,515 at an average price of $78.85, reducing his holdings by 31.91% to 8,320 shares.
- Community Trust Bancorp reported quarterly EPS of $1.64, beating estimates of $1.52, while revenue of $78.49 million also exceeded expectations.
- The company increased its quarterly dividend to $0.65 per share, implying a $2.60 annualized payout and a 3.3% yield; analysts maintain a “Moderate Buy” consensus with an average $81.50 price target.
Community Trust Bancorp, Inc. (NASDAQ:CTBI - Get Free Report) Director Franky Minnifield sold 3,900 shares of the business's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $78.85, for a total transaction of $307,515.00. Following the completion of the sale, the director owned 8,320 shares of the company's stock, valued at approximately $656,032. This represents a 31.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.
Community Trust Bancorp Price Performance
NASDAQ CTBI opened at $78.48 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.94 and a current ratio of 0.94. The firm's 50 day moving average price is $74.01 and its 200-day moving average price is $67.16. Community Trust Bancorp, Inc. has a 52-week low of $50.25 and a 52-week high of $79.92. The company has a market cap of $1.43 billion, a PE ratio of 13.15 and a beta of 0.53.
Community Trust Bancorp (NASDAQ:CTBI - Get Free Report) last issued its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.12. The company had revenue of $78.49 million for the quarter, compared to analyst estimates of $76.85 million. Community Trust Bancorp had a net margin of 25.55% and a return on equity of 12.52%. Sell-side analysts forecast that Community Trust Bancorp, Inc. will post 6.41 EPS for the current fiscal year.
Community Trust Bancorp Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Tuesday, September 15th. This is a positive change from Community Trust Bancorp's previous quarterly dividend of $0.53. Community Trust Bancorp's dividend payout ratio is presently 35.51%.
Analysts Set New Price Targets
CTBI has been the topic of a number of recent research reports. Raymond James Financial reaffirmed an "outperform" rating and set a $82.00 price objective on shares of Community Trust Bancorp in a research report on Thursday, July 16th. Zacks Research lowered shares of Community Trust Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 16th. Weiss Ratings upgraded shares of Community Trust Bancorp from a "buy (b+)" rating to a "buy (a-)" rating in a report on Thursday. Finally, Piper Sandler boosted their price objective on shares of Community Trust Bancorp from $76.00 to $81.00 and gave the stock a "neutral" rating in a research note on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $81.50.
View Our Latest Analysis on Community Trust Bancorp
Hedge Funds Weigh In On Community Trust Bancorp
Hedge funds and other institutional investors have recently bought and sold shares of the business. Assetmark Inc. acquired a new stake in Community Trust Bancorp during the 4th quarter valued at approximately $27,000. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Community Trust Bancorp in the fourth quarter worth $30,000. Quantbot Technologies LP acquired a new stake in shares of Community Trust Bancorp in the second quarter worth $40,000. Quadrant Capital Group LLC purchased a new position in shares of Community Trust Bancorp during the third quarter worth $86,000. Finally, Strs Ohio purchased a new position in shares of Community Trust Bancorp during the first quarter worth $86,000. Institutional investors and hedge funds own 60.20% of the company's stock.
About Community Trust Bancorp
(
Get Free Report)
Community Trust Bancorp, Inc is a bank holding company headquartered in Pikeville, Kentucky. As the parent of Community Trust Bank, the company provides a comprehensive range of banking services to individuals, families and businesses throughout eastern Kentucky, southern West Virginia and northeast Tennessee. With origins dating back to the early 20th century, the organization has built a reputation for supporting community development and regional economic growth across the Appalachian region.
The company's personal banking offerings include checking and savings accounts, consumer installment loans, home equity and mortgage lending, as well as online and mobile banking platforms.
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