Community Trust Bancorp, Inc. (NASDAQ:CTBI) Short Interest Up 50.9% in August

Community Trust Bancorp, Inc. (NASDAQ:CTBI) saw a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 83,900 shares, a growth of 50.9% from the July 31st total of 55,600 shares. Based on an average daily trading volume, of 28,600 shares, the days-to-cover ratio is presently 2.9 days. Currently, 0.5% of the shares of the stock are short sold.

CTBI stock traded down $0.38 during midday trading on Thursday, hitting $42.17. The company had a trading volume of 1,659 shares, compared to its average volume of 29,914. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.13. Community Trust Bancorp has a 52 week low of $35.70 and a 52 week high of $48.35. The stock’s 50 day moving average price is $40.22 and its 200 day moving average price is $41.16. The stock has a market cap of $718.02 million, a price-to-earnings ratio of 12.57 and a beta of 0.68.

Community Trust Bancorp (NASDAQ:CTBI) last announced its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $1.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.18. Community Trust Bancorp had a return on equity of 11.38% and a net margin of 28.19%. The firm had revenue of $48.28 million during the quarter, compared to the consensus estimate of $48.98 million. Analysts predict that Community Trust Bancorp will post 3.43 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Sunday, September 15th will be given a $0.38 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $1.52 annualized dividend and a yield of 3.60%. This is an increase from Community Trust Bancorp’s previous quarterly dividend of $0.36. Community Trust Bancorp’s payout ratio is presently 42.99%.

In other news, Director Franky Minnifield bought 1,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was bought at an average price of $39.33 per share, for a total transaction of $39,330.00. Following the transaction, the director now directly owns 4,940 shares of the company’s stock, valued at approximately $194,290.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.90% of the company’s stock.

A number of hedge funds have recently made changes to their positions in CTBI. Bank of America Corp DE lifted its position in Community Trust Bancorp by 29.2% in the fourth quarter. Bank of America Corp DE now owns 13,566 shares of the financial services provider’s stock valued at $537,000 after purchasing an additional 3,063 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in Community Trust Bancorp by 241.4% in the first quarter. BNP Paribas Arbitrage SA now owns 3,236 shares of the financial services provider’s stock valued at $133,000 after purchasing an additional 2,288 shares during the last quarter. SG Americas Securities LLC bought a new stake in Community Trust Bancorp in the first quarter valued at approximately $169,000. Systematic Financial Management LP lifted its position in Community Trust Bancorp by 8.8% in the first quarter. Systematic Financial Management LP now owns 20,445 shares of the financial services provider’s stock valued at $839,000 after purchasing an additional 1,645 shares during the last quarter. Finally, Raymond James & Associates lifted its position in Community Trust Bancorp by 12.0% in the first quarter. Raymond James & Associates now owns 64,196 shares of the financial services provider’s stock valued at $2,636,000 after purchasing an additional 6,870 shares during the last quarter. Hedge funds and other institutional investors own 57.38% of the company’s stock.

A number of research firms recently weighed in on CTBI. BidaskClub upgraded Community Trust Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday. Zacks Investment Research downgraded Community Trust Bancorp from a “hold” rating to a “sell” rating in a research 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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