TIAA CREF Investment Management LLC cut its stake in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 12.1% during the first quarter, Holdings Channel reports. The institutional investor owned 45,369 shares of the financial services provider’s stock after selling 6,242 shares during the period. TIAA CREF Investment Management LLC’s holdings in Community Trust Bancorp were worth $2,076,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. purchased a new position in Community Trust Bancorp during the first quarter valued at approximately $176,000. Schroder Investment Management Group raised its position in Community Trust Bancorp by 23.8% in the first quarter. Schroder Investment Management Group now owns 4,267 shares of the financial services provider’s stock valued at $198,000 after buying an additional 821 shares in the last quarter. Virginia Retirement Systems ET AL purchased a new position in Community Trust Bancorp during the first quarter valued at approximately $215,000. Oxford Asset Management purchased a new position in Community Trust Bancorp during the first quarter valued at approximately $305,000. Finally, Private Trust Co. NA raised its position in Community Trust Bancorp by 0.6% in the first quarter. Private Trust Co. NA now owns 7,691 shares of the financial services provider’s stock valued at $351,000 after buying an additional 49 shares in the last quarter. 57.34% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Community Trust Bancorp, Inc. (NASDAQ CTBI) opened at 43.15 on Monday. The company’s 50 day moving average is $43.47 and its 200 day moving average is $44.65. The company has a market capitalization of $760.52 million, a price-to-earnings ratio of 16.16 and a beta of 0.68. Community Trust Bancorp, Inc. has a one year low of $34.93 and a one year high of $51.35.

Community Trust Bancorp (NASDAQ:CTBI) last announced its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by $0.03. The firm had revenue of $46.55 million during the quarter, compared to analysts’ expectations of $46.70 million. Community Trust Bancorp had a return on equity of 9.29% and a net margin of 23.68%. Equities research analysts predict that Community Trust Bancorp, Inc. will post $2.74 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 15th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 3.04%. This is a boost from Community Trust Bancorp’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Thursday, September 14th. Community Trust Bancorp’s dividend payout ratio is 48.12%.

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Several equities analysts have commented on the stock. Zacks Investment Research lowered shares of Community Trust Bancorp from a “hold” rating to a “sell” rating in a report on Friday, July 21st. BidaskClub lowered shares of Community Trust Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. ValuEngine raised shares of Community Trust Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, June 3rd. Finally, Hilliard Lyons raised shares of Community Trust Bancorp from an “underperform” rating to a “neutral” rating and decreased their target price for the company from $44.00 to $43.00 in a report on Friday, April 21st. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $46.00.

In related news, EVP Mark A. Gooch sold 5,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $44.79, for a total value of $246,345.00. Following the transaction, the executive vice president now directly owns 21,206 shares in the company, valued at $949,816.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Andy D. Waters sold 824 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $42.35, for a total transaction of $34,896.40. Following the completion of the transaction, the insider now owns 1,268 shares in the company, valued at $53,699.80. The disclosure for this sale can be found here. 4.80% of the stock is currently owned by corporate insiders.

Community Trust Bancorp Company Profile

Community Trust Bancorp, Inc is a bank holding company. The Company holds interests in a commercial bank, Community Trust Bank, Inc (the Bank), and a trust company, Community Trust and Investment Company. Through its subsidiaries, the Company engages in a range of commercial and personal banking, and trust and wealth management activities, which include accepting time and demand deposits; making secured and unsecured loans to corporations, individuals and others; providing cash management services to corporate and individual customers; issuing letters of credit; renting safe deposit boxes, and providing funds transfer services.

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Institutional Ownership by Quarter for Community Trust Bancorp (NASDAQ:CTBI)

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