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

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

Community Trust Bancorp Trading Up 2.1 %

Shares of NASDAQ:CTBI traded up $1.05 on Friday, hitting $52.15. 88,923 shares of the company’s stock were exchanged, compared to its average volume of 85,048. The stock has a market capitalization of $940.26 million, a price-to-earnings ratio of 12.10 and a beta of 0.66. Community Trust Bancorp has a 12 month low of $33.48 and a 12 month high of $52.22. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.88 and a quick ratio of 0.88. The business’s 50 day simple moving average is $43.64 and its two-hundred day simple moving average is $42.05.

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

Community Trust Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Sunday, September 15th will be paid a $0.47 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.88 annualized dividend and a yield of 3.60%. This is a boost from Community Trust Bancorp’s previous quarterly dividend of $0.46. Community Trust Bancorp’s dividend payout ratio is 42.69%.

Insider Activity

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Heartland Advisors Inc. increased its stake in shares of Community Trust Bancorp by 216.9% during the first quarter. Heartland Advisors Inc. now owns 161,700 shares of the financial services provider’s stock valued at $6,897,000 after buying an additional 110,681 shares during the period. Assenagon Asset Management S.A. increased its position in Community Trust Bancorp by 118.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 65,844 shares of the financial services provider’s stock valued at $2,888,000 after purchasing an additional 35,765 shares during the period. LSV Asset Management raised its holdings in shares of Community Trust Bancorp by 9.0% in the 1st quarter. LSV Asset Management now owns 290,157 shares of the financial services provider’s stock valued at $12,375,000 after purchasing an additional 23,890 shares in the last quarter. William Howard & Co Financial Advisors Inc bought a new stake in shares of Community Trust Bancorp in the 1st quarter valued at about $663,000. Finally, Vanguard Group Inc. lifted its position in shares of Community Trust Bancorp by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 894,527 shares of the financial services provider’s stock worth $38,152,000 after purchasing an additional 11,043 shares during the period. 60.20% of the stock is currently owned by hedge funds and other institutional investors.

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.