Renaissance Technologies LLC decreased its position in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 6.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 181,200 shares of the financial services provider’s stock after selling 13,377 shares during the period. Renaissance Technologies LLC owned about 1.03% of Community Trust Bancorp worth $8,290,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Victory Capital Management Inc. acquired a new position in shares of Community Trust Bancorp during the first quarter worth about $176,000. Schroder Investment Management Group raised its position in shares of Community Trust Bancorp by 23.8% in the first quarter. Schroder Investment Management Group now owns 4,267 shares of the financial services provider’s stock worth $198,000 after buying an additional 821 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in shares of Community Trust Bancorp by 3.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,437 shares of the financial services provider’s stock worth $203,000 after buying an additional 136 shares during the period. Virginia Retirement Systems ET AL acquired a new position in shares of Community Trust Bancorp during the first quarter worth about $215,000. Finally, Globeflex Capital L P raised its position in shares of Community Trust Bancorp by 17,666.7% in the first quarter. Globeflex Capital L P now owns 5,330 shares of the financial services provider’s stock worth $244,000 after buying an additional 5,300 shares during the period. Institutional investors and hedge funds own 57.34% of the company’s stock.
Community Trust Bancorp, Inc. (NASDAQ:CTBI) traded down 0.60% on Friday, reaching $41.45. The company had a trading volume of 65,333 shares. Community Trust Bancorp, Inc. has a 12 month low of $35.75 and a 12 month high of $51.35. The firm has a 50 day moving average price of $43.15 and a 200-day moving average price of $44.28. The stock has a market capitalization of $730.56 million, a price-to-earnings ratio of 15.52 and a beta of 0.68.
The business also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 15th will be given a $0.33 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.18%. This is an increase from Community Trust Bancorp’s previous quarterly dividend of $0.32. Community Trust Bancorp’s payout ratio is currently 48.12%.
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A number of research analysts have issued reports on CTBI shares. Zacks Investment Research upgraded Community Trust Bancorp from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research report on Tuesday, June 20th. ValuEngine upgraded Community Trust Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, June 3rd. Hilliard Lyons upgraded Community Trust Bancorp from an “underperform” rating to a “neutral” rating and cut their price objective for the company from $44.00 to $43.00 in a report on Friday, April 21st. Finally, BidaskClub lowered Community Trust Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $46.00.
In related news, insider Andy D. Waters sold 824 shares of Community Trust Bancorp stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $42.35, for a total value of $34,896.40. Following the sale, the insider now owns 1,268 shares of the company’s stock, valued at $53,699.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.80% of the stock is currently owned by insiders.
About Community Trust Bancorp
Community Trust Bancorp, Inc is a bank holding company. The Company holds interests in a commercial bank, Community Trust Bank, Inc (the Bank), and a trust company, Community Trust and Investment Company. Through its subsidiaries, the Company engages in a range of commercial and personal banking, and trust and wealth management activities, which include accepting time and demand deposits; making secured and unsecured loans to corporations, individuals and others; providing cash management services to corporate and individual customers; issuing letters of credit; renting safe deposit boxes, and providing funds transfer services.
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