Community Trust Bancorp, Inc. (NASDAQ:CTBI) Sees Large Growth in Short Interest

Community Trust Bancorp, Inc. (NASDAQ:CTBI) was the recipient of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 143,100 shares, a growth of 61.0% from the March 15th total of 88,900 shares. Based on an average daily volume of 65,100 shares, the short-interest ratio is presently 2.2 days. Approximately 0.8% of the company’s shares are short sold.

Institutional Investors Weigh In On Community Trust Bancorp

A number of large investors have recently added to or reduced their stakes in the company. Community Trust & Investment Co. increased its position in shares of Community Trust Bancorp by 1.6% during the first quarter. Community Trust & Investment Co. now owns 1,920,934 shares of the financial services provider’s stock worth $96,738,000 after acquiring an additional 29,577 shares during the last quarter. Asio Capital LLC acquired a new position in shares of Community Trust Bancorp in the 1st quarter valued at approximately $252,000. SummerHaven Investment Management LLC boosted its stake in shares of Community Trust Bancorp by 1.5% during the 1st quarter. SummerHaven Investment Management LLC now owns 18,278 shares of the financial services provider’s stock valued at $920,000 after buying an additional 268 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Community Trust Bancorp by 41.6% during the first quarter. SG Americas Securities LLC now owns 7,746 shares of the financial services provider’s stock worth $390,000 after buying an additional 2,277 shares in the last quarter. Finally, Wedge Capital Management L L P NC increased its stake in shares of Community Trust Bancorp by 20.2% in the first quarter. Wedge Capital Management L L P NC now owns 15,275 shares of the financial services provider’s stock worth $769,000 after buying an additional 2,563 shares during the last quarter. 60.20% of the stock is owned by institutional investors and hedge funds.

Community Trust Bancorp Trading Down 0.8 %

Shares of Community Trust Bancorp stock traded down $0.37 during trading hours on Friday, hitting $47.19. The company’s stock had a trading volume of 72,315 shares, compared to its average volume of 55,377. The business has a fifty day moving average of $51.26 and a 200 day moving average of $53.30. Community Trust Bancorp has a 1-year low of $39.72 and a 1-year high of $61.67. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $854.23 million, a PE ratio of 10.24 and a beta of 0.55.

Community Trust Bancorp (NASDAQ:CTBI) last released its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.22 EPS for the quarter, beating the consensus estimate of $1.19 by $0.03. Community Trust Bancorp had a return on equity of 11.36% and a net margin of 22.02%. The company had revenue of $66.16 million for the quarter, compared to analyst estimates of $64.92 million. During the same period last year, the company posted $1.04 earnings per share. As a group, equities analysts forecast that Community Trust Bancorp will post 5.06 EPS for the current year.

Community Trust Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Saturday, March 15th were paid a $0.47 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.88 annualized dividend and a dividend yield of 3.98%. Community Trust Bancorp’s dividend payout ratio (DPR) is presently 40.78%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CTBI. Piper Sandler lowered their price objective on shares of Community Trust Bancorp from $60.00 to $56.00 and set an “overweight” rating for the company in a research note on Thursday. Raymond James dropped their price target on Community Trust Bancorp from $60.00 to $58.00 and set an “outperform” rating for the company in a research note on Wednesday, April 2nd.

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.