Community Trust Bancorp, Inc. (NASDAQ:CTBI) Short Interest Up 50.9% in August

Community Trust Bancorp, Inc. (NASDAQ:CTBI) was the target of a large growth in short interest in August. As of August 31st, there was short interest totalling 83,900 shares, a growth of 50.9% from the July 31st total of 55,600 shares. Based on an average daily volume of 28,600 shares, the short-interest ratio is presently 2.9 days. Approximately 0.5% of the company’s stock are short sold.

In other news, Director Franky Minnifield acquired 1,000 shares of Community Trust Bancorp stock in a transaction on Thursday, August 15th. The stock was acquired at an average cost of $39.33 per share, with a total value of $39,330.00. Following the transaction, the director now owns 4,940 shares of the company’s stock, valued at approximately $194,290.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.90% of the company’s stock.

Several hedge funds have recently made changes to their positions in CTBI. FMR LLC lifted its stake in Community Trust Bancorp by 68.9% in the 1st quarter. FMR LLC now owns 192,176 shares of the financial services provider’s stock worth $7,891,000 after purchasing an additional 78,400 shares in the last quarter. Nuveen Asset Management LLC bought a new position in shares of Community Trust Bancorp in the 2nd quarter worth $2,744,000. JPMorgan Chase & Co. increased its holdings in shares of Community Trust Bancorp by 6.4% in the 1st quarter. JPMorgan Chase & Co. now owns 273,679 shares of the financial services provider’s stock worth $11,237,000 after buying an additional 16,432 shares during the last quarter. Martingale Asset Management L P increased its holdings in shares of Community Trust Bancorp by 22.3% in the 1st quarter. Martingale Asset Management L P now owns 89,435 shares of the financial services provider’s stock worth $3,673,000 after buying an additional 16,300 shares during the last quarter. Finally, Dupont Capital Management Corp bought a new position in shares of Community Trust Bancorp in the 2nd quarter worth $643,000. Institutional investors own 57.38% of the company’s stock.

A number of brokerages have issued reports on CTBI. BidaskClub raised shares of Community Trust Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday. Zacks Investment Research cut shares of Community Trust Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, September 4th.

Shares of CTBI stock traded up $0.51 during trading on Friday, reaching $42.83. 18,676 shares of the company’s stock traded hands, compared to its average volume of 30,454. The company has a market capitalization of $730.29 million, a P/E ratio of 12.79 and a beta of 0.68. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.13. The firm’s 50-day moving average is $40.22 and its 200 day moving average is $41.16. Community Trust Bancorp has a 1 year low of $35.70 and a 1 year high of $47.60.

Community Trust Bancorp (NASDAQ:CTBI) last announced its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $1.03 EPS for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.18. The company had revenue of $48.28 million for the quarter, compared to analysts’ expectations of $48.98 million. Community Trust Bancorp had a net margin of 28.19% and a return on equity of 11.38%. As a group, sell-side analysts predict that Community Trust Bancorp will post 3.43 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Sunday, September 15th will be paid a dividend of $0.38 per share. This is a boost from Community Trust Bancorp’s previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date of this dividend is Thursday, September 12th. Community Trust Bancorp’s dividend payout ratio is presently 42.99%.

About Community Trust Bancorp

Community Trust Bancorp, Inc operates as the bank holding company for Community Trust Bank, Inc that provides commercial and personal banking services to small and mid-sized communities. The company accepts time and demand deposits, Keogh plans, and savings certificates, as well as checking and savings, regular, individual retirement, NOW, and money market accounts.

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