Hsbc Holdings PLC Buys 7,304 Shares of Community Trust Bancorp, Inc. $CTBI

Hsbc Holdings PLC increased its stake in Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 50.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,728 shares of the financial services provider’s stock after purchasing an additional 7,304 shares during the quarter. Hsbc Holdings PLC’s holdings in Community Trust Bancorp were worth $1,227,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in CTBI. SG Americas Securities LLC boosted its stake in shares of Community Trust Bancorp by 462.8% in the 4th quarter. SG Americas Securities LLC now owns 36,957 shares of the financial services provider’s stock worth $2,088,000 after buying an additional 30,390 shares during the last quarter. JPMorgan Chase & Co. increased its position in Community Trust Bancorp by 24.9% during the third quarter. JPMorgan Chase & Co. now owns 92,224 shares of the financial services provider’s stock valued at $5,160,000 after acquiring an additional 18,387 shares during the last quarter. American Century Companies Inc. lifted its holdings in 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 acquiring an additional 41,551 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Community Trust Bancorp in the fourth quarter valued at about $1,892,000. Finally, LSV Asset Management boosted its position in Community Trust Bancorp by 14.9% in the fourth quarter. LSV Asset Management now owns 280,380 shares of the financial services provider’s stock worth $15,841,000 after purchasing an additional 36,300 shares during the last quarter. Institutional investors own 60.20% of the company’s stock.

Community Trust Bancorp Trading Up 2.4%

Shares of Community Trust Bancorp stock opened at $74.07 on Thursday. Community Trust Bancorp, Inc. has a fifty-two week low of $50.25 and a fifty-two week high of $74.52. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market capitalization of $1.35 billion, a P/E ratio of 12.97 and a beta of 0.54. The company has a fifty day moving average of $67.46 and a 200 day moving average of $63.25.

Community Trust Bancorp (NASDAQ:CTBI) last posted its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.11. Community Trust Bancorp had a return on equity of 12.27% and a net margin of 24.85%.The business had revenue of $74.20 million for the quarter, compared to analysts’ expectations of $73.00 million. On average, sell-side analysts anticipate that Community Trust Bancorp, Inc. will post 6.13 earnings per share for the current fiscal year.

Community Trust Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Monday, June 15th. Community Trust Bancorp’s dividend payout ratio (DPR) is 37.13%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CTBI shares. Piper Sandler assumed coverage on shares of Community Trust Bancorp in a research note on Thursday, June 11th. They issued a “neutral” rating and a $76.00 price objective on the stock. Weiss Ratings upgraded shares of Community Trust Bancorp from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, May 18th. Finally, Zacks Research cut shares of Community Trust Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 16th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $68.50.

About Community Trust Bancorp

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.