Short Interest in Community Trust Bancorp, Inc. (NASDAQ:CTBI) Expands By 13.3%

Community Trust Bancorp, Inc. (NASDAQ:CTBI) was the target of a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 120,300 shares, an increase of 13.3% from the May 31st total of 106,200 shares. Approximately 0.7% of the shares of the company are sold short. Based on an average daily volume of 42,200 shares, the short-interest ratio is presently 2.9 days.

Institutional Investors Weigh In On Community Trust Bancorp

Several institutional investors have recently made changes to their positions in CTBI. Heartland Advisors Inc. increased its holdings in shares of Community Trust Bancorp by 216.9% in the 1st quarter. Heartland Advisors Inc. now owns 161,700 shares of the financial services provider’s stock valued at $6,897,000 after purchasing an additional 110,681 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Community Trust Bancorp by 118.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 65,844 shares of the financial services provider’s stock worth $2,888,000 after buying an additional 35,765 shares during the period. Alberta Investment Management Corp acquired a new stake in shares of Community Trust Bancorp during the 3rd quarter valued at approximately $1,059,000. LSV Asset Management lifted its position in shares of Community Trust Bancorp by 9.0% during the 1st quarter. LSV Asset Management now owns 290,157 shares of the financial services provider’s stock valued at $12,375,000 after acquiring an additional 23,890 shares during the period. Finally, GSA Capital Partners LLP boosted its stake in shares of Community Trust Bancorp by 102.7% during the 3rd quarter. GSA Capital Partners LLP now owns 36,801 shares of the financial services provider’s stock worth $1,261,000 after acquiring an additional 18,643 shares in the last quarter. 60.20% of the stock is currently owned by hedge funds and other institutional investors.

Community Trust Bancorp Stock Performance

Shares of Community Trust Bancorp stock traded down $1.01 on Wednesday, reaching $42.49. 33,556 shares of the stock were exchanged, compared to its average volume of 46,760. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $766.09 million, a PE ratio of 10.09 and a beta of 0.66. Community Trust Bancorp has a 1-year low of $33.48 and a 1-year high of $45.74. The business has a fifty day moving average price of $42.47 and a two-hundred day moving average price of $41.66.

Community Trust Bancorp (NASDAQ:CTBI) last released its earnings results on Wednesday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.06. The company had revenue of $59.02 million for the quarter, compared to analysts’ expectations of $56.51 million. Community Trust Bancorp had a return on equity of 11.36% and a net margin of 22.64%. As a group, research analysts anticipate that Community Trust Bancorp will post 4.2 earnings per share for the current fiscal year.

Community Trust Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Saturday, June 15th were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date was Friday, June 14th. Community Trust Bancorp’s dividend payout ratio (DPR) is currently 42.69%.

Analyst Upgrades and Downgrades

Separately, Janney Montgomery Scott started coverage on Community Trust Bancorp in a report on Wednesday, March 27th. They set a “buy” rating and a $49.00 price target for the company.

About Community Trust Bancorp

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.