Community Trust Bancorp, Inc. (NASDAQ:CTBI) Short Interest Up 23.3% in July

Community Trust Bancorp, Inc. (NASDAQ:CTBI) was the recipient of a significant growth in short interest in 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 currently 2.9 days. Currently, 0.9% of the shares of the company are sold short.

Community Trust Bancorp Stock Performance

Shares of NASDAQ CTBI traded up $0.83 during trading hours on Tuesday, hitting $51.24. 51,437 shares of the company’s stock were exchanged, compared to its average volume of 50,919. The company’s 50-day moving average price is $43.79 and its 200-day moving average price is $42.11. Community Trust Bancorp has a 1-year low of $33.48 and a 1-year high of $52.22. The stock 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 debt-to-equity ratio of 0.10, a current ratio of 0.88 and a quick ratio of 0.88.

Community Trust Bancorp (NASDAQ:CTBI) last issued its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.06. Community Trust Bancorp had a return on equity of 11.27% and a net margin of 21.85%. The company had revenue of $92.36 million during the quarter, compared to analyst estimates of $58.65 million. On average, sell-side analysts expect that Community Trust Bancorp will post 4.38 earnings per share for the current fiscal year.

Community Trust Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Sunday, September 15th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Friday, September 13th. This is an increase from Community Trust Bancorp’s previous quarterly dividend of $0.46. This represents a $1.88 dividend on an annualized basis and a yield of 3.67%. Community Trust Bancorp’s dividend payout ratio (DPR) is 42.69%.

Insiders Place Their Bets

In other news, EVP Andy D. Waters bought 10,000 shares of the stock in a transaction that occurred on Friday, July 19th. The shares were acquired at an average cost of $32.27 per share, for a total transaction of $322,700.00. Following the purchase, the executive vice president now owns 11,401 shares of the company’s stock, valued at approximately $367,910.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders purchased 20,011 shares of company stock valued at $645,881 over the last 90 days. 4.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Community Trust Bancorp

Several large investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC lifted its holdings in shares of Community Trust Bancorp by 77.8% during the 4th quarter. Parallel Advisors LLC now owns 704 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 308 shares during the period. Victory Capital Management Inc. lifted its stake in Community Trust Bancorp by 5.2% during the fourth quarter. Victory Capital Management Inc. now owns 8,605 shares of the financial services provider’s stock worth $377,000 after purchasing an additional 428 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Community Trust Bancorp by 4.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,484 shares of the financial services provider’s stock valued at $618,000 after purchasing an additional 631 shares in the last quarter. Equitable Trust Co. grew its stake in shares of Community Trust Bancorp by 7.2% in the 4th quarter. Equitable Trust Co. now owns 9,680 shares of the financial services provider’s stock valued at $425,000 after purchasing an additional 647 shares during the period. Finally, SG Americas Securities LLC raised its holdings in shares of Community Trust Bancorp by 26.9% in the 1st quarter. SG Americas Securities LLC now owns 3,161 shares of the financial services provider’s stock worth $135,000 after buying 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.