Connor Clark & Lunn Investment Management Ltd. Buys Shares of 69,535 Community Trust Bancorp, Inc. $CTBI

Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) during the second quarter, HoldingsChannel.com reports. The fund bought 69,535 shares of the financial services provider’s stock, valued at approximately $5,032,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Community Trust Bancorp by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,122 shares of the financial services provider’s stock valued at $459,000 after acquiring an additional 381 shares during the period. Millennium Management LLC increased its stake in Community Trust Bancorp by 116.4% in the first quarter. Millennium Management LLC now owns 100,651 shares of the financial services provider’s stock worth $5,069,000 after purchasing an additional 54,130 shares during the period. Jane Street Group LLC increased its stake in Community Trust Bancorp by 158.5% in the first quarter. Jane Street Group LLC now owns 28,493 shares of the financial services provider’s stock worth $1,435,000 after purchasing an additional 17,470 shares during the period. Strs Ohio bought a new stake in shares of Community Trust Bancorp during the first quarter worth $86,000. Finally, Rhumbline Advisers lifted its position in shares of Community Trust Bancorp by 4.5% during the second quarter. Rhumbline Advisers now owns 24,696 shares of the financial services provider’s stock worth $1,307,000 after purchasing an additional 1,074 shares during the last quarter. 60.20% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Community Trust Bancorp news, Director Franky Minnifield sold 3,900 shares of Community Trust Bancorp stock in a transaction on Friday, August 14th. The shares were sold at an average price of $78.85, for a total value of $307,515.00. Following the transaction, the director directly owned 8,320 shares of the company’s stock, valued at approximately $656,032. The trade was a 31.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.60% of the stock is currently owned by company insiders.

Community Trust Bancorp Stock Performance

CTBI stock opened at $76.30 on Friday. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of 12.78 and a beta of 0.53. The firm has a 50-day simple moving average of $75.16 and a two-hundred day simple moving average of $67.93. Community Trust Bancorp, Inc. has a one year low of $50.25 and a one year high of $79.92. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.94 and a current ratio of 0.94.

Community Trust Bancorp (NASDAQ:CTBI) last issued its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.12. The firm had revenue of $78.49 million for the quarter, compared to the consensus estimate of $76.85 million. Community Trust Bancorp had a net margin of 25.55% and a return on equity of 12.52%. On average, equities analysts forecast that Community Trust Bancorp, Inc. will post 6.41 EPS for the current fiscal year.

Community Trust Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 3.4%. 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 35.51%.

Wall Street Analyst Weigh In

CTBI has been the topic of a number of research analyst reports. Zacks Research cut shares of Community Trust Bancorp from a “strong-buy” rating to a “hold” rating in a 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, August 13th. Raymond James Financial reissued an “outperform” rating and issued a $82.00 price objective on shares of Community Trust Bancorp in a research report on Thursday, July 16th. Finally, Piper Sandler upped their target price 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 research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Community Trust Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $81.50.

Community Trust Bancorp Company Profile

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.