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

Community Trust Bancorp, Inc. (NASDAQ:CTBI) was the target of a significant decrease in short interest in November. As of November 30th, there was short interest totalling 85,700 shares, a decrease of 8.8% from the November 15th total of 94,000 shares. Based on an average daily trading volume, of 49,900 shares, the days-to-cover ratio is presently 1.7 days. Approximately 0.5% of the shares of the stock are short sold.

Institutional Investors Weigh In On Community Trust Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Innealta Capital LLC acquired a new stake in Community Trust Bancorp in the 2nd quarter worth approximately $37,000. Quantbot Technologies LP bought a new position in Community Trust Bancorp during the 3rd quarter worth $63,000. Coastline Trust Co bought a new position in shares of Community Trust Bancorp in the 3rd quarter valued at $79,000. CWM LLC increased its stake in shares of Community Trust Bancorp by 1,932.0% in the 2nd quarter. CWM LLC now owns 2,601 shares of the financial services provider’s stock valued at $114,000 after acquiring an additional 2,473 shares in the last quarter. Finally, Comerica Bank purchased a new position in Community Trust Bancorp in the first quarter worth $185,000. Hedge funds and other institutional investors own 60.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CTBI. Piper Sandler reiterated an “overweight” rating and issued a $64.00 price target on shares of Community Trust Bancorp in a report on Friday, November 8th. Raymond James raised Community Trust Bancorp from a “market perform” rating to an “outperform” rating and set a $60.00 target price for the company in a research note on Friday, October 18th.

Community Trust Bancorp Stock Performance

Shares of NASDAQ:CTBI traded down $0.75 on Tuesday, hitting $57.61. The company’s stock had a trading volume of 27,496 shares, compared to its average volume of 49,933. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of 13.26 and a beta of 0.66. The stock’s 50-day moving average is $55.66 and its two-hundred day moving average is $49.65. Community Trust Bancorp has a 12 month low of $38.44 and a 12 month high of $61.67.

Community Trust Bancorp (NASDAQ:CTBI) last issued its earnings results on Wednesday, October 16th. The financial services provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.15 by $0.08. The firm had revenue of $95.38 million during the quarter, compared to the consensus estimate of $62.00 million. Community Trust Bancorp had a net margin of 21.64% and a return on equity of 10.93%. On average, equities research analysts forecast that Community Trust Bancorp will post 4.56 EPS for the current year.

Community Trust Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Sunday, December 15th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend is Friday, December 13th. Community Trust Bancorp’s dividend payout ratio (DPR) is presently 42.73%.

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.