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

Community Trust Bancorp, Inc. (NASDAQ:CTBI) saw a significant increase in short interest in 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. Approximately 0.7% of the company’s stock are sold short. Based on an average daily trading volume, of 58,100 shares, the short-interest ratio is currently 2.1 days.

Insider Buying and Selling at Community Trust Bancorp

In other Community Trust Bancorp news, EVP David Andrew Jones purchased 10,000 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was purchased at an average cost of $32.27 per share, with a total value of $322,700.00. Following the completion of the acquisition, the executive vice president now directly owns 10,000 shares of the company’s stock, valued at approximately $322,700. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have acquired a total of 20,011 shares of company stock worth $645,881 over the last ninety days. Corporate insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Community Trust Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in CTBI. The Manufacturers Life Insurance Company grew its holdings in shares of Community Trust Bancorp by 4.0% during the second quarter. The Manufacturers Life Insurance Company now owns 6,112 shares of the financial services provider’s stock worth $267,000 after buying an additional 234 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Community Trust Bancorp by 37.8% in the 2nd quarter. AQR Capital Management LLC now owns 188,707 shares of the financial services provider’s stock valued at $8,239,000 after purchasing an additional 51,765 shares during 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 position in Community Trust Bancorp in the 2nd quarter valued at $264,000. Finally, Stock Yards Bank & Trust Co. purchased a new position in Community Trust Bancorp during the 2nd quarter worth $439,000. 60.20% of the stock is owned by hedge funds and other institutional investors.

Community Trust Bancorp Stock Performance

Shares of CTBI traded down $0.37 during midday trading on Wednesday, reaching $49.07. 3,295 shares of the stock were exchanged, compared to its average volume of 48,957. The company has a market capitalization of $885.71 million, a price-to-earnings ratio of 11.47 and a beta of 0.64. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.88. Community Trust Bancorp has a twelve month low of $33.48 and a twelve month high of $52.22. The business’s 50-day moving average price is $48.31 and its 200 day moving average price is $44.05.

Community Trust Bancorp (NASDAQ:CTBI) last posted its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.06. The business had revenue of $92.36 million during the quarter, compared to the consensus estimate of $58.65 million. Community Trust Bancorp had a return on equity of 11.14% and a net margin of 21.85%. On average, sell-side analysts expect that Community Trust Bancorp will post 4.38 EPS for the current fiscal year.

Community Trust Bancorp Increases Dividend

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

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.