Thoroughbred Financial Services LLC Makes New $2.89 Million Investment in Community Trust Bancorp, Inc. (NASDAQ:CTBI)
Thoroughbred Financial Services LLC has invested approximately $891,000 in Community Trust Bancorp, Inc. (NASDAQ:CTBI), acquiring 66,223 shares during the second quarter. This investment represents 0.37% ownership in the company. Other institutional investors have also adjusted their positions in CTBI. Community Trust Bancorp recently reported a quarterly EPS of $0.09, exceeding estimates, and announced an increased quarterly dividend of $0.47, with a yield of 3.87%. The company operates as a bank holding company providing various banking services in Kentucky and surrounding areas.
Thoroughbred Financial Services LLC purchased a new position in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 66,223 shares of the financial services provider's stock, valued at approximately $2,891,000. Thoroughbred Financial Services LLC owned approximately 0.37% of Community Trust Bancorp at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in CTBI. Dimensional Fund Advisors LP grew its holdings in Community Trust Bancorp by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,158,760 shares of the financial services provider's stock worth $50,824,000 after acquiring an additional 9,507 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Community Trust Bancorp by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 894,527 shares of the financial services provider's stock worth $38,152,000 after purchasing an additional 11,043 shares during the period. LSV Asset Management boosted its stake in shares of Community Trust Bancorp by 9.0% during the first quarter. LSV Asset Management now owns 290,157 shares of the financial services provider's stock valued at $12,375,000 after purchasing an additional 23,890 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Community Trust Bancorp by 20.5% during the second quarter. American Century Companies Inc. now owns 274,759 shares of the financial services provider's stock valued at $11,996,000 after purchasing an additional 46,745 shares in the last quarter. Finally, Heartland Advisors Inc. increased its holdings in Community Trust Bancorp by 216.9% during the first quarter. Heartland Advisors Inc. now owns 161,700 shares of the financial services provider's stock valued at $6,897,000 after buying an additional 110,681 shares during the period. Hedge funds and other institutional investors own 60.20% of the company's stock.
Community Trust Bancorp Stock Up 1.3 %
Community Trust Bancorp stock opened at $48.60 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.09. The firm has a market cap of $877.23 million, a P/E ratio of 11.28 and a beta of 0.64. The business has a fifty day moving average of $48.01 and a two-hundred day moving average of $43.85. Community Trust Bancorp, Inc. has a twelve month low of $33.48 and a twelve month high of $52.22.
Community Trust Bancorp (NASDAQ:CTBI - Get Free Report) last released its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $1.09 EPS for the quarter, beating the consensus estimate of $1.03 by $0.06. Community Trust Bancorp had a net margin of 21.85% and a return on equity of 11.14%. The business had revenue of $92.36 million during the quarter, compared to analyst estimates of $58.65 million. On average, analysts forecast that Community Trust Bancorp, Inc. will post 4.38 earnings per share for the current fiscal year.
Community Trust Bancorp Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Sunday, September 15th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.87%. This is an increase from Community Trust Bancorp's previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Friday, September 13th. Community Trust Bancorp's dividend payout ratio (DPR) is 42.69%.
Insiders Place Their Bets
In other Community Trust Bancorp news, EVP David Andrew Jones acquired 10,000 shares of the firm's stock in a transaction dated Monday, July 22nd. The stock was purchased at an average price of $32.27 per share, for a total transaction of $322,700.00. Following the acquisition, the executive vice president now owns 10,000 shares in the company, valued at approximately $322,700. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders have bought 20,011 shares of company stock valued at $645,881. 4.30% of the stock is currently owned by insiders.
Community Trust Bancorp Company Profile
(Free Report)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.
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