Healthcare of Ontario Pension Plan Trust Fund Decreases Holdings in Community Trust Bancorp, Inc. (NASDAQ:CTBI)

Posted by Defense World Staff on Mar 2nd, 2023

Healthcare of Ontario Pension Plan Trust Fund trimmed its holdings in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI – Get Rating) by 62.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,800 shares of the financial services provider’s stock after selling 17,900 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned 0.06% of Community Trust Bancorp worth $438,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Community Trust & Investment Co. boosted its position in Community Trust Bancorp by 0.3% during the 3rd quarter. Community Trust & Investment Co. now owns 1,890,410 shares of the financial services provider’s stock worth $76,656,000 after purchasing an additional 4,759 shares during the period. BlackRock Inc. boosted its position in Community Trust Bancorp by 2.1% during the 1st quarter. BlackRock Inc. now owns 1,463,901 shares of the financial services provider’s stock worth $60,313,000 after purchasing an additional 30,385 shares during the period. Dimensional Fund Advisors LP boosted its position in Community Trust Bancorp by 1.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,123,598 shares of the financial services provider’s stock valued at $45,561,000 after buying an additional 16,268 shares during the last quarter. Northern Trust Corp boosted its position in Community Trust Bancorp by 2.9% in the 1st quarter. Northern Trust Corp now owns 520,883 shares of the financial services provider’s stock valued at $21,461,000 after buying an additional 14,494 shares during the last quarter. Finally, State Street Corp boosted its position in Community Trust Bancorp by 6.0% in the 1st quarter. State Street Corp now owns 455,416 shares of the financial services provider’s stock valued at $18,944,000 after buying an additional 25,580 shares during the last quarter. 57.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Community Trust Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, November 19th.

Community Trust Bancorp Stock Performance

NASDAQ:CTBI opened at $42.63 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a 50-day moving average of $44.34 and a two-hundred day moving average of $44.43. The stock has a market cap of $763.84 million, a P/E ratio of 9.29 and a beta of 0.72. Community Trust Bancorp, Inc. has a 1-year low of $39.10 and a 1-year high of $48.05.

Community Trust Bancorp (NASDAQ:CTBI – Get Rating) last issued its earnings results on Wednesday, January 18th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.03. The business had revenue of $58.76 million for the quarter, compared to analyst estimates of $59.55 million. Community Trust Bancorp had a net margin of 32.00% and a return on equity of 13.00%. On average, research analysts expect that Community Trust Bancorp, Inc. will post 4.49 earnings per share for the current fiscal year.

Community Trust Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, April 1st. Stockholders of record on Wednesday, March 15th will be paid a $0.44 dividend. The ex-dividend date is Tuesday, March 14th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.13%. Community Trust Bancorp’s dividend payout ratio (DPR) is presently 38.34%.

Insider Activity

In related news, Director Franky Minnifield bought 2,000 shares of the business’s stock in a transaction dated Monday, January 30th. The shares were acquired at an average price of $42.00 per share, for a total transaction of $84,000.00. Following the purchase, the director now owns 10,091 shares in the company, valued at approximately $423,822. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 4.10% of the company’s stock.

About Community Trust Bancorp

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Community Trust Bancorp, Inc is a bank holding company, which engages in the provision of community banking services through its subsidiary Community Trust Bank, Inc It offers commercial & 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.