Community Trust Bancorp, Inc. (NASDAQ:CTBI) Sees Large Increase in Short Interest

Community Trust Bancorp, Inc. (NASDAQ:CTBI) saw a large increase in short interest in August. As of August 31st, there was short interest totalling 123,700 shares, an increase of 11.5% from the August 15th total of 110,900 shares. Based on an average trading volume of 58,100 shares, the days-to-cover ratio is presently 2.1 days. Approximately 0.7% of the company’s shares are sold short.

Insider Buying and Selling at Community Trust Bancorp

In other Community Trust Bancorp news, EVP David Andrew Jones purchased 10,000 shares of Community Trust Bancorp stock in a transaction dated Monday, July 22nd. The shares were acquired at an average price of $32.27 per share, with a total value of $322,700.00. Following the completion of the transaction, the executive vice president now owns 10,000 shares of the company’s stock, valued at $322,700. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders bought a total of 20,011 shares of company stock valued at $645,881 in the last three months. 4.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Community Trust Bancorp

Large investors have recently modified their holdings of the company. Heartland Advisors Inc. grew its stake in shares of Community Trust Bancorp by 216.9% during the first quarter. Heartland Advisors Inc. now owns 161,700 shares of the financial services provider’s stock worth $6,897,000 after purchasing an additional 110,681 shares in the last quarter. Thoroughbred Financial Services LLC acquired a new position in shares of Community Trust Bancorp during the 2nd quarter worth about $2,891,000. AQR Capital Management LLC increased its holdings in shares of Community Trust Bancorp by 37.8% in the 2nd quarter. AQR Capital Management LLC now owns 188,707 shares of the financial services provider’s stock valued at $8,239,000 after acquiring an additional 51,765 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Community Trust Bancorp by 20.5% in the 2nd quarter. American Century Companies Inc. now owns 274,759 shares of the financial services provider’s stock valued at $11,996,000 after acquiring an additional 46,745 shares during the last quarter. Finally, LSV Asset Management raised its position in shares of Community Trust Bancorp by 9.0% during the 1st quarter. LSV Asset Management now owns 290,157 shares of the financial services provider’s stock worth $12,375,000 after acquiring an additional 23,890 shares in the last quarter. 60.20% of the stock is owned by hedge funds and other institutional investors.

Community Trust Bancorp Stock Up 0.4 %

Shares of NASDAQ CTBI opened at $49.44 on Wednesday. The stock has a market cap of $892.39 million, a P/E ratio of 11.47 and a beta of 0.64. The business’s fifty day simple moving average is $48.31 and its 200-day simple moving average is $44.05. Community Trust Bancorp has a 12-month low of $33.48 and a 12-month high of $52.22. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09.

Community Trust Bancorp (NASDAQ:CTBI) last posted its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $92.36 million for the quarter, compared to analyst estimates of $58.65 million. As a group, equities analysts predict that Community Trust Bancorp will post 4.38 EPS for the current fiscal year.

Community Trust Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Sunday, September 15th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.88 dividend on an annualized basis and a yield of 3.80%. This is an increase from Community Trust Bancorp’s previous quarterly dividend of $0.46. Community Trust Bancorp’s payout ratio is currently 42.69%.

About Community Trust Bancorp

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.