Franklin Resources Inc. Purchases 889 Shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI)

Franklin Resources Inc. raised its position in Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 9.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 10,044 shares of the financial services provider’s stock after buying an additional 889 shares during the period. Franklin Resources Inc.’s holdings in Community Trust Bancorp were worth $503,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Thoroughbred Financial Services LLC bought a new position in Community Trust Bancorp in the 2nd quarter valued at approximately $2,891,000. Thrivent Financial for Lutherans lifted its holdings in Community Trust Bancorp by 23.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 80,948 shares of the financial services provider’s stock worth $4,020,000 after buying an additional 15,619 shares during the period. Creative Planning bought a new position in shares of Community Trust Bancorp during the third quarter worth about $498,000. Barclays PLC lifted its stake in shares of Community Trust Bancorp by 45.8% in the third quarter. Barclays PLC now owns 50,376 shares of the financial services provider’s stock worth $2,502,000 after acquiring an additional 15,832 shares during the period. Finally, Bank of Montreal Can bought a new stake in Community Trust Bancorp in the second quarter valued at approximately $764,000. 60.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Piper Sandler restated an “overweight” rating and issued a $64.00 price target on shares of Community Trust Bancorp in a research report on Friday, November 8th. Raymond James upgraded shares of Community Trust Bancorp from a “market perform” rating to an “outperform” rating and set a $60.00 target price on the stock in a report on Friday, October 18th.

Community Trust Bancorp Trading Down 0.7 %

Shares of CTBI stock opened at $53.22 on Tuesday. The company has a market cap of $961.05 million, a P/E ratio of 12.10 and a beta of 0.66. Community Trust Bancorp, Inc. has a fifty-two week low of $38.44 and a fifty-two week high of $61.67. The stock has a 50 day simple moving average of $56.50 and a two-hundred day simple moving average of $50.56. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.90 and a current ratio of 0.90.

Community Trust Bancorp (NASDAQ:CTBI) last released its earnings results on Wednesday, October 16th. The financial services provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.08. The company had revenue of $95.38 million for the quarter, compared to the consensus estimate of $62.00 million. Community Trust Bancorp had a net margin of 21.64% and a return on equity of 10.93%. Research analysts forecast that Community Trust Bancorp, Inc. will post 4.56 earnings per share for the current year.

Community Trust Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Sunday, December 15th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.53%. Community Trust Bancorp’s dividend payout ratio (DPR) is presently 42.73%.

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.