Quest Partners LLC Buys 2,168 Shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI)

Quest Partners LLC lifted its stake in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 70.1% during the second quarter, HoldingsChannel.com reports. The firm owned 5,262 shares of the financial services provider’s stock after purchasing an additional 2,168 shares during the quarter. Quest Partners LLC’s holdings in Community Trust Bancorp were worth $230,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Los Angeles Capital Management LLC purchased a new position in Community Trust Bancorp during the second quarter worth about $337,000. Innealta Capital LLC purchased a new position in Community Trust Bancorp during the second quarter worth about $37,000. CWM LLC grew its position in Community Trust Bancorp by 1,932.0% during the second 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 in the last quarter. EMC Capital Management purchased a new position in Community Trust Bancorp during the first quarter worth about $119,000. Finally, William Howard & Co Financial Advisors Inc purchased a new position in Community Trust Bancorp during the first quarter worth about $663,000. 60.20% of the stock is currently owned by institutional investors.

Insider Transactions at Community Trust Bancorp

In other news, EVP David Andrew Jones acquired 10,000 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was purchased at an average cost 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 of the company’s stock, valued at $322,700. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last three months, insiders bought 20,011 shares of company stock worth $645,881. 4.30% of the stock is currently owned by corporate insiders.

Community Trust Bancorp Price Performance

Community Trust Bancorp stock opened at $48.60 on Friday. Community Trust Bancorp, Inc. has a 52 week low of $33.48 and a 52 week high of $52.22. The business has a 50-day simple moving average of $48.01 and a 200 day simple moving average of $43.85. 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 stock has a market cap of $877.23 million, a price-to-earnings ratio of 11.28 and a beta of 0.64.

Community Trust Bancorp (NASDAQ:CTBI) last posted its earnings results on Wednesday, July 17th. The financial services provider reported $1.09 EPS for the quarter, topping the consensus estimate of $1.03 by $0.06. Community Trust Bancorp had a return on equity of 11.14% and a net margin of 21.85%. The business had revenue of $92.36 million during the quarter, compared to analysts’ expectations of $58.65 million. On average, research 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 disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Sunday, September 15th will be issued a $0.47 dividend. This is a boost from Community Trust Bancorp’s previous quarterly dividend of $0.46. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date is Friday, September 13th. Community Trust Bancorp’s dividend payout ratio is presently 42.69%.

Community Trust Bancorp Profile

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.