Community Trust Bancorp, Inc. (NASDAQ:CTBI) Short Interest Up 11.5% in August

Community Trust Bancorp, Inc. (NASDAQ:CTBI) was the recipient of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 123,700 shares, an increase of 11.5% from the August 15th total of 110,900 shares. Currently, 0.7% of the shares of the company are sold short. Based on an average trading volume of 58,100 shares, the short-interest ratio is presently 2.1 days.

Community Trust Bancorp Price Performance

CTBI stock traded down $0.37 during trading on Wednesday, hitting $49.07. The stock had a trading volume of 3,295 shares, compared to its average volume of 48,957. Community Trust Bancorp has a twelve month low of $33.48 and a twelve month high of $52.22. The company’s 50-day moving average price is $48.31 and its two-hundred day moving average price is $44.05. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market capitalization of $885.71 million, a P/E ratio of 11.47 and a beta of 0.64.

Community Trust Bancorp (NASDAQ:CTBI) last posted its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.06. Community Trust Bancorp had a net margin of 21.85% and a return on equity of 11.14%. The firm had revenue of $92.36 million for the quarter, compared to the consensus estimate of $58.65 million. As a group, research analysts predict that Community Trust Bancorp will post 4.38 EPS for the current fiscal year.

Community Trust Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Sunday, September 15th will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 3.83%. This is a boost from Community Trust Bancorp’s previous quarterly dividend of $0.46. The ex-dividend date is Friday, September 13th. Community Trust Bancorp’s dividend payout ratio is 42.69%.

Insider Buying and Selling

In other news, EVP David Andrew Jones acquired 10,000 shares of the business’s stock in a transaction on Monday, July 22nd. The stock was bought at an average price of $32.27 per share, with a total value of $322,700.00. Following the completion of the acquisition, the executive vice president now owns 10,000 shares of the company’s stock, valued at $322,700. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have purchased a total of 20,011 shares of company stock valued at $645,881 over the last ninety days. Company insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Community Trust Bancorp

Hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its holdings in Community Trust Bancorp by 4.0% in the second quarter. The Manufacturers Life Insurance Company now owns 6,112 shares of the financial services provider’s stock valued at $267,000 after purchasing an additional 234 shares during the period. AQR Capital Management LLC grew its position in shares of Community Trust Bancorp by 37.8% during the second quarter. AQR Capital Management LLC now owns 188,707 shares of the financial services provider’s stock worth $8,239,000 after buying an additional 51,765 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of Community Trust Bancorp during the second quarter worth approximately $764,000. Hsbc Holdings PLC acquired a new stake in Community Trust Bancorp in the second quarter valued at approximately $264,000. Finally, Stock Yards Bank & Trust Co. purchased a new position in Community Trust Bancorp in the second quarter worth approximately $439,000. 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.