Community Trust Bancorp, Inc. (NASDAQ:CTBI) saw a significant 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. Currently, 0.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 28,600 shares, the short-interest ratio is currently 2.9 days.
CTBI has been the topic of a number of research analyst reports. Zacks Investment Research downgraded Community Trust Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, September 4th. BidaskClub upgraded Community Trust Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday.
In other news, Director Franky Minnifield bought 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were bought at an average cost of $39.33 per share, for a total transaction of $39,330.00. Following the completion of the transaction, the director now owns 4,940 shares of the company’s stock, valued at $194,290.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.90% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in shares of Community Trust Bancorp by 3.9% during the second quarter. JPMorgan Chase & Co. now owns 284,371 shares of the financial services provider’s stock valued at $11,839,000 after buying an additional 10,692 shares during the last quarter. Martingale Asset Management L P grew its stake in Community Trust Bancorp by 22.3% in the first quarter. Martingale Asset Management L P now owns 89,435 shares of the financial services provider’s stock worth $3,673,000 after purchasing an additional 16,300 shares in the last quarter. Globeflex Capital L P grew its stake in Community Trust Bancorp by 18.3% in the first quarter. Globeflex Capital L P now owns 9,344 shares of the financial services provider’s stock worth $384,000 after purchasing an additional 1,444 shares in the last quarter. Dupont Capital Management Corp bought a new position in Community Trust Bancorp in the second quarter worth approximately $643,000. Finally, Raymond James & Associates grew its stake in Community Trust Bancorp by 12.0% in the first quarter. Raymond James & Associates now owns 64,196 shares of the financial services provider’s stock worth $2,636,000 after purchasing an additional 6,870 shares in the last quarter. 57.38% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CTBI traded down $0.18 during mid-day trading on Thursday, reaching $42.37. 1,303 shares of the company’s stock traded hands, compared to its average volume of 29,914. The stock has a market cap of $718.02 million, a P/E ratio of 12.57 and a beta of 0.68. The stock’s 50-day moving average is $40.22 and its two-hundred day moving average is $41.16. Community Trust Bancorp has a 12 month low of $35.70 and a 12 month high of $48.35. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.95 and a quick ratio of 0.95.
Community Trust Bancorp (NASDAQ:CTBI) last released its earnings results on Wednesday, July 17th. The financial services provider reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.18. The firm had revenue of $48.28 million for the quarter, compared to analysts’ expectations of $48.98 million. Community Trust Bancorp had a return on equity of 11.38% and a net margin of 28.19%. Research analysts predict that Community Trust Bancorp will post 3.43 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders 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. The ex-dividend date is Thursday, September 12th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.59%. Community Trust Bancorp’s dividend payout ratio is currently 42.99%.
Community Trust Bancorp Company Profile
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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