Prudential Financial Inc. Cuts Stake in Community Trust Bancorp, Inc. (NASDAQ:CTBI)

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Prudential Financial Inc. reduced its position in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 2.4% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 166,842 shares of the financial services provider’s stock after selling 4,020 shares during the quarter. Prudential Financial Inc. owned 0.94% of Community Trust Bancorp worth $7,056,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in CTBI. Hillsdale Investment Management Inc. bought a new position in shares of Community Trust Bancorp in the second quarter worth approximately $42,000. HMS Capital Management LLC purchased a new position in Community Trust Bancorp in the 2nd quarter worth approximately $48,000. BNP Paribas Arbitrage SA raised its holdings in Community Trust Bancorp by 241.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,236 shares of the financial services provider’s stock worth $133,000 after acquiring an additional 2,288 shares during the last quarter. SG Americas Securities LLC bought a new position in Community Trust Bancorp in the 1st quarter valued at approximately $169,000. Finally, WINTON GROUP Ltd bought a new position in Community Trust Bancorp in the 2nd quarter valued at approximately $293,000. Institutional investors and hedge funds own 57.38% of the company’s stock.

Shares of NASDAQ CTBI traded up $0.57 during trading on Wednesday, reaching $41.65. 711 shares of the company traded hands, compared to its average volume of 30,273. The firm has a 50 day simple moving average of $40.20 and a 200-day simple moving average of $41.17. Community Trust Bancorp, Inc. has a 52-week low of $35.70 and a 52-week high of $48.60. The stock has a market capitalization of $718.02 million, a PE ratio of 12.38 and a beta of 0.68. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.13.

Community Trust Bancorp (NASDAQ:CTBI) last issued its earnings results on Wednesday, July 17th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.18. Community Trust Bancorp had a net margin of 28.19% and a return on equity of 11.38%. The company had revenue of $48.28 million for the quarter, compared to analysts’ expectations of $48.98 million. As a group, research analysts predict that Community Trust Bancorp, Inc. will post 3.43 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Sunday, September 15th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.65%. This is a boost from Community Trust Bancorp’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Thursday, September 12th. Community Trust Bancorp’s dividend payout ratio is presently 42.99%.

In other news, Director Franky Minnifield purchased 1,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were purchased at an average cost of $39.33 per share, for a total transaction of $39,330.00. Following the purchase, the director now directly owns 4,940 shares in the company, valued at approximately $194,290.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.90% of the stock is owned by corporate insiders.

CTBI has been the topic of several recent analyst reports. BidaskClub downgraded Community Trust Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, August 27th. Zacks Investment Research downgraded Community Trust Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, September 4th.

About Community Trust Bancorp

Community Trust Bancorp, Inc operates as the bank holding company for Community Trust Bank, Inc that provides commercial and personal banking services to small and mid-sized communities. The company accepts time and demand deposits, Keogh plans, and savings certificates, as well as checking and savings, regular, individual retirement, NOW, and money market accounts.

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Institutional Ownership by Quarter for Community Trust Bancorp (NASDAQ:CTBI)

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