Community Trust Bancorp, Inc. (NASDAQ:CTBI) Short Interest Update

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

Analyst Upgrades and Downgrades

Separately, Janney Montgomery Scott initiated coverage on shares of Community Trust Bancorp in a research report on Wednesday, March 27th. They set a “buy” rating and a $49.00 target price on the stock.

Community Trust Bancorp Stock Down 2.3 %

Shares of Community Trust Bancorp stock traded down $1.01 during trading on Wednesday, hitting $42.49. 33,556 shares of the stock traded hands, compared to its average volume of 46,760. Community Trust Bancorp has a 52-week low of $33.48 and a 52-week high of $45.74. The stock’s fifty day simple moving average is $42.47 and its 200 day simple moving average is $41.66. The firm has a market cap of $766.09 million, a P/E ratio of 10.09 and a beta of 0.66. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.10.

Community Trust Bancorp (NASDAQ:CTBI) last posted its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $1.04 EPS for the quarter, beating the consensus estimate of $0.98 by $0.06. Community Trust Bancorp had a net margin of 22.64% and a return on equity of 11.36%. The business had revenue of $59.02 million during the quarter, compared to analyst estimates of $56.51 million. On average, equities analysts predict that Community Trust Bancorp will post 4.2 earnings per share for the current fiscal year.

Community Trust Bancorp Dividend Announcement

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Heartland Advisors Inc. lifted its holdings in shares of Community Trust Bancorp by 216.9% during 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 during the last quarter. 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 buying an additional 35,765 shares in the last quarter. Alberta Investment Management Corp purchased a new stake in Community Trust Bancorp in the third quarter valued at about $1,059,000. LSV Asset Management boosted its holdings in Community Trust Bancorp by 9.0% in the first quarter. LSV Asset Management now owns 290,157 shares of the financial services provider’s stock worth $12,375,000 after acquiring an additional 23,890 shares in the last quarter. Finally, GSA Capital Partners LLP grew its stake in shares of Community Trust Bancorp by 102.7% during the third 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 during the last quarter. 60.20% of the stock is currently owned by hedge funds and other institutional investors.

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.