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

Community Trust Bancorp, Inc. (NASDAQ:CTBI) was the target of a significant 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 company’s stock are short sold.

Shares of CTBI stock traded down $0.18 during mid-day trading on Thursday, hitting $42.37. The company’s stock had a trading volume of 1,303 shares, compared to its average volume of 29,914. Community Trust Bancorp has a 52-week low of $35.70 and a 52-week high of $48.35. The business has a 50-day moving average price of $40.22 and a 200 day moving average price of $41.16. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.95 and a current ratio of 0.95. 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 posted its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $1.03 earnings per share for the quarter, topping 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 analysts’ expectations of $48.98 million. Equities research analysts predict that Community Trust Bancorp will post 3.43 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Sunday, September 15th will be paid a $0.38 dividend. The ex-dividend date is Thursday, September 12th. This represents a $1.52 annualized dividend and a dividend yield of 3.59%. This is a boost from Community Trust Bancorp’s previous quarterly dividend of $0.36. Community Trust Bancorp’s payout ratio is currently 42.99%.

A number of research analysts have issued reports on the company. Zacks Investment Research cut Community Trust Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, September 4th. BidaskClub upgraded Community Trust Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday.

In related news, Director Franky Minnifield acquired 1,000 shares of the stock in a transaction on Thursday, August 15th. The stock was acquired at an average price of $39.33 per share, for a total transaction of $39,330.00. Following the completion of the purchase, the director now owns 4,940 shares of the company’s stock, valued at $194,290.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.90% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of the company. Community Trust & Investment Co. grew its holdings in shares of Community Trust Bancorp by 0.8% in the second quarter. Community Trust & Investment Co. now owns 1,752,526 shares of the financial services provider’s stock worth $74,114,000 after acquiring an additional 13,725 shares during the period. BlackRock Inc. grew its holdings in shares of Community Trust Bancorp by 0.8% in the second quarter. BlackRock Inc. now owns 1,246,752 shares of the financial services provider’s stock worth $52,724,000 after acquiring an additional 9,482 shares during the period. Northern Trust Corp grew its holdings in shares of Community Trust Bancorp by 2.6% in the second quarter. Northern Trust Corp now owns 561,805 shares of the financial services provider’s stock worth $23,759,000 after acquiring an additional 14,189 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Community Trust Bancorp by 2.9% in the second quarter. Renaissance Technologies LLC now owns 330,782 shares of the financial services provider’s stock worth $13,989,000 after acquiring an additional 9,200 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of Community Trust Bancorp by 3.9% in the second quarter. JPMorgan Chase & Co. now owns 284,371 shares of the financial services provider’s stock worth $11,839,000 after acquiring an additional 10,692 shares during the period. Hedge funds and other institutional investors own 57.38% of the company’s stock.

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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