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

Community Trust Bancorp, Inc. (NASDAQ:CTBI) saw a significant growth in short interest during the month of July. As of July 15th, there was short interest totalling 156,100 shares, a growth of 23.3% from the June 30th total of 126,600 shares. Based on an average daily volume of 53,200 shares, the days-to-cover ratio is presently 2.9 days. Approximately 0.9% of the shares of the company are short sold.

Community Trust Bancorp Price Performance

CTBI traded up $0.83 during trading on Tuesday, reaching $51.24. The stock had a trading volume of 51,437 shares, compared to its average volume of 50,919. The firm has a market capitalization of $923.86 million, a price-to-earnings ratio of 11.89 and a beta of 0.66. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.10. Community Trust Bancorp has a 1-year low of $33.48 and a 1-year high of $52.22. The stock has a 50 day moving average of $43.79 and a two-hundred day moving average of $42.11.

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 the consensus estimate of $1.03 by $0.06. The company had revenue of $92.36 million for the quarter, compared to analysts’ expectations of $58.65 million. Community Trust Bancorp had a return on equity of 11.27% and a net margin of 21.85%. As a group, equities analysts anticipate that Community Trust Bancorp will post 4.38 EPS for the current fiscal year.

Community Trust Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Sunday, September 15th will be issued a $0.47 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.88 annualized dividend and a dividend yield of 3.67%. This is a boost from Community Trust Bancorp’s previous quarterly dividend of $0.46. Community Trust Bancorp’s dividend payout ratio is currently 42.69%.

Insider Activity

In related news, EVP David Andrew Jones bought 10,000 shares of the stock in a transaction dated Monday, July 22nd. The stock was bought at an average cost of $32.27 per share, with a total value of $322,700.00. Following the completion of the acquisition, the executive vice president now owns 10,000 shares of the company’s stock, valued at $322,700. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders purchased 20,011 shares of company stock valued at $645,881. 4.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Parallel Advisors LLC raised its stake in Community Trust Bancorp by 77.8% during the 4th quarter. Parallel Advisors LLC now owns 704 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 308 shares during the period. Innealta Capital LLC acquired a new stake in Community Trust Bancorp during the 2nd quarter valued at $37,000. EntryPoint Capital LLC acquired a new stake in Community Trust Bancorp during the 1st quarter valued at $78,000. SG Americas Securities LLC acquired a new stake in Community Trust Bancorp during the 4th quarter valued at $109,000. Finally, CWM LLC raised its stake 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 valued at $114,000 after purchasing an additional 2,473 shares during the period. Institutional investors 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.