Community Trust Bancorp, Inc. $CTBI Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its holdings in Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 24.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 92,224 shares of the financial services provider’s stock after buying an additional 18,387 shares during the period. JPMorgan Chase & Co.’s holdings in Community Trust Bancorp were worth $5,160,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in CTBI. Millennium Management LLC raised its position in Community Trust Bancorp by 116.4% during the first quarter. Millennium Management LLC now owns 100,651 shares of the financial services provider’s stock worth $5,069,000 after acquiring an additional 54,130 shares during the last quarter. American Century Companies Inc. grew its position in shares of Community Trust Bancorp by 10.1% in the third quarter. American Century Companies Inc. now owns 452,995 shares of the financial services provider’s stock valued at $25,345,000 after purchasing an additional 41,551 shares during the last quarter. Qube Research & Technologies Ltd increased its stake in shares of Community Trust Bancorp by 43.4% during the 3rd quarter. Qube Research & Technologies Ltd now owns 84,468 shares of the financial services provider’s stock worth $4,726,000 after purchasing an additional 25,549 shares in the last quarter. Hillsdale Investment Management Inc. increased its stake in shares of Community Trust Bancorp by 24.8% during the 3rd quarter. Hillsdale Investment Management Inc. now owns 124,669 shares of the financial services provider’s stock worth $6,975,000 after purchasing an additional 24,800 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its position in shares of Community Trust Bancorp by 29.6% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 87,499 shares of the financial services provider’s stock worth $4,630,000 after purchasing an additional 20,000 shares during the last quarter. 60.20% of the stock is owned by institutional investors and hedge funds.

Community Trust Bancorp Trading Up 1.4%

Shares of CTBI stock opened at $61.58 on Thursday. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 11.34 and a beta of 0.53. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.08. The firm has a 50-day moving average price of $61.40 and a 200 day moving average price of $57.86. Community Trust Bancorp, Inc. has a twelve month low of $44.60 and a twelve month high of $65.79.

Community Trust Bancorp (NASDAQ:CTBI) last released its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.08. The company had revenue of $74.72 million for the quarter, compared to analysts’ expectations of $73.15 million. Community Trust Bancorp had a net margin of 23.95% and a return on equity of 11.96%. Research analysts forecast that Community Trust Bancorp, Inc. will post 5.06 earnings per share for the current fiscal year.

Community Trust Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Sunday, March 15th were given a dividend of $0.53 per share. The ex-dividend date was Friday, March 13th. This represents a $2.12 dividend on an annualized basis and a yield of 3.4%. Community Trust Bancorp’s dividend payout ratio (DPR) is 39.04%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Community Trust Bancorp in a research note on Friday, March 27th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $63.50.

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.