Community Trust Bancorp, Inc. (NASDAQ:CTBI) Short Interest Down 20.6% in October

Community Trust Bancorp, Inc. (NASDAQ:CTBI) saw a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 90,400 shares, a drop of 20.6% from the October 15th total of 113,800 shares. Approximately 0.5% of the company’s shares are sold short. Based on an average daily volume of 46,300 shares, the short-interest ratio is presently 2.0 days.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Innealta Capital LLC bought a new stake in shares of Community Trust Bancorp during the second quarter valued at approximately $37,000. Quantbot Technologies LP purchased a new position in shares of Community Trust Bancorp in the 3rd quarter worth approximately $63,000. EntryPoint Capital LLC bought a new position in shares of Community Trust Bancorp during the 1st quarter valued at approximately $78,000. Coastline Trust Co bought a new position in Community Trust Bancorp during the third quarter valued at $79,000. Finally, CWM LLC raised its stake in shares of Community Trust Bancorp by 1,932.0% in the second quarter. CWM LLC now owns 2,601 shares of the financial services provider’s stock valued at $114,000 after acquiring an additional 2,473 shares during the period. 60.20% of the stock is currently owned by institutional investors.

Community Trust Bancorp Stock Down 0.6 %

Shares of CTBI stock traded down $0.33 during trading hours on Friday, reaching $59.04. The company had a trading volume of 49,949 shares, compared to its average volume of 49,959. Community Trust Bancorp has a 12 month low of $38.44 and a 12 month high of $61.60. The company has a market cap of $1.07 billion, a price-to-earnings ratio of 13.49 and a beta of 0.63. The business has a fifty day simple moving average of $50.96 and a 200-day simple moving average of $47.08. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.90 and a quick ratio of 0.88.

Community Trust Bancorp (NASDAQ:CTBI) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.23 EPS for the quarter, topping the consensus estimate of $1.15 by $0.08. Community Trust Bancorp had a net margin of 21.64% and a return on equity of 10.93%. The business had revenue of $95.38 million for the quarter, compared to analyst estimates of $62.00 million. On average, research analysts expect that Community Trust Bancorp will post 4.56 earnings per share for the current fiscal year.

Community Trust Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Sunday, December 15th will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.18%. Community Trust Bancorp’s dividend payout ratio is 42.73%.

Wall Street Analysts Forecast Growth

CTBI has been the topic of several recent research reports. Raymond James upgraded shares of Community Trust Bancorp from a “market perform” rating to an “outperform” rating and set a $60.00 price target on the stock in a research note on Friday, October 18th. Piper Sandler reissued an “overweight” rating and set a $64.00 price target on shares of Community Trust Bancorp in a research report on Friday, November 8th.

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.