Cornercap Investment Counsel Inc. Trims Stake in Community Trust Bancorp, Inc. (NASDAQ:CTBI)

Cornercap Investment Counsel Inc. lowered its position in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 53.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,829 shares of the financial services provider’s stock after selling 6,600 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Community Trust Bancorp were worth $289,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new stake in shares of Community Trust Bancorp in the 2nd quarter valued at about $37,000. EntryPoint Capital LLC purchased a new position in shares of Community Trust Bancorp during the 1st quarter worth approximately $78,000. CWM LLC grew its stake in shares of Community Trust Bancorp by 1,932.0% in the 2nd quarter. CWM LLC now owns 2,601 shares of the financial services provider’s stock worth $114,000 after buying an additional 2,473 shares during the last quarter. EMC Capital Management purchased a new stake in shares of Community Trust Bancorp in the 1st quarter worth approximately $119,000. Finally, SG Americas Securities LLC boosted its stake in Community Trust Bancorp by 26.9% during the 1st quarter. SG Americas Securities LLC now owns 3,161 shares of the financial services provider’s stock valued at $135,000 after purchasing an additional 671 shares during the last quarter. Institutional investors own 60.20% of the company’s stock.

Community Trust Bancorp Trading Down 0.6 %

CTBI opened at $59.04 on Monday. The company has a current ratio of 0.90, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09. The firm has a market cap of $1.07 billion, a P/E ratio of 13.42 and a beta of 0.63. Community Trust Bancorp, Inc. has a 12 month low of $38.44 and a 12 month high of $61.60. The stock has a 50-day moving average of $51.39 and a 200 day moving average of $47.36.

Community Trust Bancorp (NASDAQ:CTBI) last posted its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.08. The firm had revenue of $95.38 million during the quarter, compared to the consensus estimate of $62.00 million. Community Trust Bancorp had a net margin of 21.64% and a return on equity of 10.93%. As a group, research analysts forecast that Community Trust Bancorp, Inc. will post 4.56 EPS for the current year.

Community Trust Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Sunday, December 15th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend is Friday, December 13th. Community Trust Bancorp’s dividend payout ratio is currently 42.73%.

Analyst Ratings Changes

CTBI has been the topic of several recent analyst reports. Piper Sandler reiterated an “overweight” rating and set a $64.00 target price on shares of Community Trust Bancorp in a research note on Friday, November 8th. Raymond James upgraded Community Trust Bancorp from a “market perform” rating to an “outperform” rating and set a $60.00 price target for the company in a research note on Friday, October 18th.

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.