Short Interest in Community Trust Bancorp, Inc. (NASDAQ:CTBI) Increases By 44.2%

Community Trust Bancorp, Inc. (NASDAQ:CTBI) was the target of a significant growth in short interest in the month of October. As of October 15th, there was short interest totalling 113,800 shares, a growth of 44.2% from the September 30th total of 78,900 shares. Based on an average trading volume of 45,800 shares, the days-to-cover ratio is currently 2.5 days. Approximately 0.7% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Separately, Raymond James upgraded shares of Community Trust Bancorp from a “market perform” rating to an “outperform” rating and set a $60.00 price objective on the stock in a research note on Friday, October 18th.

Community Trust Bancorp Price Performance

Community Trust Bancorp stock traded down $0.19 during mid-day trading on Tuesday, hitting $52.23. The company’s stock had a trading volume of 48,064 shares, compared to its average volume of 48,840. 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 capitalization of $942.75 million, a P/E ratio of 11.80 and a beta of 0.64. Community Trust Bancorp has a twelve month low of $36.92 and a twelve month high of $53.50. The stock’s fifty day moving average price is $49.44 and its two-hundred day moving average price is $45.91.

Community Trust Bancorp (NASDAQ:CTBI) last posted its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.08. The firm had revenue of $95.38 million for the quarter, compared to analyst estimates of $62.00 million. Community Trust Bancorp had a net margin of 21.64% and a return on equity of 11.13%. Research analysts forecast that Community Trust Bancorp will post 4.55 earnings per share for the current year.

Community Trust Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Sunday, December 15th will be given a $0.47 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.88 annualized dividend and a yield of 3.60%. Community Trust Bancorp’s dividend payout ratio (DPR) is 42.73%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Innealta Capital LLC purchased a new position in Community Trust Bancorp during the 2nd quarter worth approximately $37,000. EntryPoint Capital LLC purchased a new position in Community Trust Bancorp during the 1st quarter worth approximately $78,000. CWM LLC grew its position in Community Trust Bancorp by 1,932.0% during the 2nd quarter. CWM LLC now owns 2,601 shares of the financial services provider’s stock worth $114,000 after purchasing an additional 2,473 shares in the last quarter. EMC Capital Management purchased a new position in Community Trust Bancorp during the 1st quarter worth approximately $119,000. Finally, SG Americas Securities LLC grew its position in Community Trust Bancorp by 26.9% during the 1st quarter. SG Americas Securities LLC now owns 3,161 shares of the financial services provider’s stock worth $135,000 after purchasing an additional 671 shares in the last quarter. Institutional investors and hedge funds own 60.20% of the company’s stock.

Community Trust Bancorp Company 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.