California Public Employees Retirement System Buys 5,024 Shares of Community Trust Bancorp, Inc. (CTBI)

California Public Employees Retirement System boosted its stake in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 19.5% during the second quarter, HoldingsChannel reports. The firm owned 30,798 shares of the financial services provider’s stock after purchasing an additional 5,024 shares during the quarter. California Public Employees Retirement System’s holdings in Community Trust Bancorp were worth $1,538,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Millennium Management LLC raised its holdings in Community Trust Bancorp by 1,850.8% in the first quarter. Millennium Management LLC now owns 88,877 shares of the financial services provider’s stock worth $4,017,000 after purchasing an additional 84,321 shares during the period. Legal & General Group Plc raised its holdings in Community Trust Bancorp by 48.8% in the first quarter. Legal & General Group Plc now owns 5,958 shares of the financial services provider’s stock worth $270,000 after purchasing an additional 1,953 shares during the period. Allianz Asset Management GmbH acquired a new stake in Community Trust Bancorp in the first quarter worth $3,573,000. Dalton Greiner Hartman Maher & Co. raised its holdings in Community Trust Bancorp by 4.6% in the second quarter. Dalton Greiner Hartman Maher & Co. now owns 559,706 shares of the financial services provider’s stock worth $27,957,000 after purchasing an additional 24,494 shares during the period. Finally, Bank of Montreal Can raised its holdings in Community Trust Bancorp by 57,646.3% in the second quarter. Bank of Montreal Can now owns 23,676 shares of the financial services provider’s stock worth $1,182,000 after purchasing an additional 23,635 shares during the period. 58.13% of the stock is currently owned by institutional investors.

A number of equities research analysts recently commented on CTBI shares. Zacks Investment Research upgraded shares of Community Trust Bancorp from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a report on Monday, October 22nd. ValuEngine upgraded shares of Community Trust Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, October 9th. Finally, BidaskClub lowered shares of Community Trust Bancorp from a “buy” rating to a “hold” rating in a report on Friday, July 13th.

In related news, insider Charles Wayne Hancock II sold 530 shares of the firm’s stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $49.66, for a total value of $26,319.80. Following the completion of the transaction, the insider now owns 959 shares of the company’s stock, valued at $47,623.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Franky Minnifield bought 2,275 shares of the firm’s stock in a transaction that occurred on Wednesday, October 17th. The stock was acquired at an average cost of $44.64 per share, with a total value of $101,556.00. Following the transaction, the director now owns 1,007 shares of the company’s stock, valued at approximately $44,952.48. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 6,859 shares of company stock worth $342,556. 4.80% of the stock is currently owned by company insiders.

Shares of NASDAQ:CTBI opened at $45.93 on Friday. Community Trust Bancorp, Inc. has a 12 month low of $42.40 and a 12 month high of $53.00. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.11. The firm has a market cap of $814.29 million, a P/E ratio of 13.75 and a beta of 0.49.

Community Trust Bancorp (NASDAQ:CTBI) last issued its quarterly earnings data on Wednesday, October 17th. The financial services provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.07. Community Trust Bancorp had a net margin of 26.68% and a return on equity of 11.02%. The business had revenue of $48.80 million for the quarter, compared to analyst estimates of $48.50 million. Research analysts predict that Community Trust Bancorp, Inc. will post 3.49 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 1st. Investors of record on Saturday, December 15th will be issued a dividend of $0.36 per share. The ex-dividend date is Thursday, December 13th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.14%. Community Trust Bancorp’s payout ratio is 51.43%.

Community Trust Bancorp Profile

Community Trust Bancorp, Inc operates as the bank holding company for Community Trust Bank, Inc that provides commercial and personal banking services to small and mid-sized communities. The company accepts time and demand deposits, Keogh plans, and savings certificates, as well as checking and savings, individual retirement, NOW, and money market accounts.

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Want to see what other hedge funds are holding CTBI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Community Trust Bancorp, Inc. (NASDAQ:CTBI).

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

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