Empowered Funds LLC Cuts Holdings in Community Trust Bancorp, Inc. (NASDAQ:CTBI)

Empowered Funds LLC trimmed its position in Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 7.8% during the 4th quarter, HoldingsChannel reports. The firm owned 59,443 shares of the financial services provider’s stock after selling 4,997 shares during the quarter. Empowered Funds LLC’s holdings in Community Trust Bancorp were worth $3,152,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. The Manufacturers Life Insurance Company increased its stake in Community Trust Bancorp by 4.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,112 shares of the financial services provider’s stock worth $267,000 after acquiring an additional 234 shares during the last quarter. SG Americas Securities LLC bought a new position in Community Trust Bancorp during the third quarter valued at $209,000. CWM LLC grew its stake in shares of Community Trust Bancorp by 12.2% in the 3rd quarter. CWM LLC now owns 2,918 shares of the financial services provider’s stock worth $145,000 after buying an additional 317 shares in the last quarter. Creative Planning bought a new stake in shares of Community Trust Bancorp in the 3rd quarter worth about $498,000. Finally, Aptus Capital Advisors LLC bought a new position in shares of Community Trust Bancorp in the 3rd quarter valued at about $608,000. 60.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on CTBI. Raymond James raised Community Trust Bancorp from a “market perform” rating to an “outperform” rating and set a $60.00 price objective on the stock in a research note on Friday, October 18th. Piper Sandler reissued an “overweight” rating and set a $64.00 target price on shares of Community Trust Bancorp in a research report on Friday, November 8th.

Community Trust Bancorp Price Performance

CTBI stock opened at $55.68 on Friday. The stock has a market cap of $1.01 billion, a PE ratio of 12.08 and a beta of 0.67. Community Trust Bancorp, Inc. has a 12 month low of $38.53 and a 12 month high of $61.67. The company has a 50-day moving average price of $54.45 and a 200 day moving average price of $52.49. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.09.

Community Trust Bancorp (NASDAQ:CTBI) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.05. Community Trust Bancorp had a return on equity of 11.36% and a net margin of 22.02%. During the same quarter last year, the firm earned $1.04 earnings per share. Equities research analysts anticipate that Community Trust Bancorp, Inc. will post 5.06 earnings per share for the current year.

Community Trust Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Saturday, March 15th will be given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend is Friday, March 14th. Community Trust Bancorp’s dividend payout ratio (DPR) is presently 40.78%.

About Community Trust Bancorp

Community Trust Bancorp, Inc operates as the bank holding company for Community Trust Bank, Inc that engages in the provision of commercial and personal banking, and trust and wealth management services to small and mid-sized communities in eastern, northeastern, central, and south-central Kentucky, as well as southern West Virginia, and northeastern Tennessee.