25,614 Shares in Community Trust Bancorp, Inc. $CTBI Purchased by Lazard Asset Management LLC

Lazard Asset Management LLC purchased a new stake in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 25,614 shares of the financial services provider’s stock, valued at approximately $1,555,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Assetmark Inc. bought a new position in shares of Community Trust Bancorp during the fourth quarter valued at approximately $27,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of Community Trust Bancorp in the 4th quarter worth approximately $30,000. Quadrant Capital Group LLC purchased a new stake in shares of Community Trust Bancorp in the 3rd quarter worth approximately $86,000. Strs Ohio purchased a new stake in shares of Community Trust Bancorp in the 1st quarter worth approximately $86,000. Finally, Russell Investments Group Ltd. increased its position in Community Trust Bancorp by 478.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,650 shares of the financial services provider’s stock valued at $92,000 after buying an additional 1,365 shares in the last quarter. Hedge funds and other institutional investors own 60.20% of the company’s stock.

Community Trust Bancorp Price Performance

Shares of NASDAQ:CTBI opened at $79.47 on Wednesday. Community Trust Bancorp, Inc. has a fifty-two week low of $50.25 and a fifty-two week high of $79.92. The business has a 50-day simple moving average of $71.95 and a two-hundred day simple moving average of $66.07. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 13.31 and a beta of 0.53.

Community Trust Bancorp (NASDAQ:CTBI) last announced its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.12. Community Trust Bancorp had a net margin of 25.55% and a return on equity of 12.66%. The firm had revenue of $78.49 million for the quarter, compared to the consensus estimate of $76.85 million. On average, analysts expect that Community Trust Bancorp, Inc. will post 6.41 earnings per share for the current year.

Community Trust Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 3.3%. This is a positive change from Community Trust Bancorp’s previous quarterly dividend of $0.53. The ex-dividend date is Tuesday, September 15th. Community Trust Bancorp’s payout ratio is currently 35.51%.

Analyst Upgrades and Downgrades

CTBI has been the subject of a number of recent research reports. Raymond James Financial reiterated an “outperform” rating and set a $82.00 price objective on shares of Community Trust Bancorp in a research note on Thursday, July 16th. Weiss Ratings cut Community Trust Bancorp from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday. Zacks Research downgraded Community Trust Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 16th. Finally, Piper Sandler lifted their price target on Community Trust Bancorp from $76.00 to $81.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $81.50.

About Community Trust Bancorp

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.