Jupiter Topco LLC Invests $14.96 Million in Community Trust Bancorp, Inc. $CTBI

Jupiter Topco LLC acquired a new position in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 206,688 shares of the financial services provider’s stock, valued at approximately $14,956,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Garton & Associates Financial Advisors LLC purchased a new position in Community Trust Bancorp in the fourth quarter valued at about $30,000. Quantbot Technologies LP purchased a new position in shares of Community Trust Bancorp in the 2nd quarter worth approximately $40,000. Quadrant Capital Group LLC purchased a new position in shares of Community Trust Bancorp in the 3rd quarter worth approximately $86,000. Strs Ohio bought a new position in shares of Community Trust Bancorp during the 1st quarter worth approximately $86,000. Finally, Russell Investments Group Ltd. raised its stake in shares of 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 worth $92,000 after acquiring an additional 1,365 shares in the last quarter. Institutional investors own 60.20% of the company’s stock.

Insider Transactions at Community Trust Bancorp

In other Community Trust Bancorp news, Director Franky Minnifield sold 3,900 shares of the company’s 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 sale, the director directly owned 8,320 shares of the company’s stock, valued at approximately $656,032. This represents 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 this link. 2.60% of the stock is owned by corporate insiders.

Community Trust Bancorp Price Performance

Shares of NASDAQ CTBI opened at $76.66 on Friday. Community Trust Bancorp, Inc. has a 52 week low of $50.25 and a 52 week high of $79.92. The business’s 50 day moving average price is $75.33 and its 200 day moving average price is $68.00. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.39 billion, a P/E ratio of 12.84 and a beta of 0.53.

Community Trust Bancorp (NASDAQ:CTBI) last posted its quarterly earnings results 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. Community Trust Bancorp had a net margin of 25.55% and a return on equity of 12.52%. The company had revenue of $78.49 million during the quarter, compared to analyst estimates of $76.85 million. On average, sell-side analysts expect that Community Trust Bancorp, Inc. will post 6.41 earnings per share for the current year.

Community Trust Bancorp Increases Dividend

The firm also recently announced 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 is a boost from Community Trust Bancorp’s previous quarterly dividend of $0.53. This represents a $2.60 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Tuesday, September 15th. Community Trust Bancorp’s payout ratio is presently 35.51%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CTBI. Piper Sandler raised their price objective 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. Weiss Ratings upgraded Community Trust Bancorp from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Thursday, August 13th. Zacks Research downgraded Community Trust Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 16th. Finally, Raymond James Financial restated an “outperform” rating and set a $82.00 price target on shares of Community Trust Bancorp in a research note on Thursday, July 16th. One 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 company’s stock. Based on data from MarketBeat, the company currently 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.