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

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

Community Trust Bancorp Trading Down 0.6 %

CTBI stock traded down $0.33 during trading on Friday, reaching $59.04. 49,949 shares of the stock traded hands, compared to its average volume of 49,959. The business’s 50 day moving average price is $50.96 and its 200-day moving average price is $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 has a 52-week low of $38.44 and a 52-week high of $61.60. The firm has a market capitalization of $1.07 billion, a PE ratio of 13.49 and a beta of 0.63.

Community Trust Bancorp (NASDAQ:CTBI) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.08. The company had revenue of $95.38 million for the quarter, compared to analysts’ expectations of $62.00 million. Community Trust Bancorp had a return on equity of 10.93% and a net margin of 21.64%. As a group, sell-side analysts forecast that Community Trust Bancorp will post 4.56 earnings per share for the current year.

Community Trust Bancorp Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Piper Sandler reiterated an “overweight” rating and issued a $64.00 target price on shares of Community Trust Bancorp in a research report on Friday, November 8th. Raymond James raised 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 report on Friday, October 18th.

Institutional Trading of Community Trust Bancorp

Several large investors have recently modified their holdings of the company. Point72 Asset Management L.P. bought a new stake in Community Trust Bancorp in the third quarter valued at about $282,000. Martingale Asset Management L P grew its stake in shares of Community Trust Bancorp by 9.6% in the 3rd quarter. Martingale Asset Management L P now owns 43,078 shares of the financial services provider’s stock valued at $2,139,000 after purchasing an additional 3,780 shares during the period. BNP Paribas Financial Markets lifted its position in shares of Community Trust Bancorp by 33.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,285 shares of the financial services provider’s stock worth $213,000 after buying an additional 1,079 shares during the period. Quantbot Technologies LP acquired a new stake in Community Trust Bancorp in the 3rd quarter valued at $63,000. Finally, Charles Schwab Investment Management Inc. grew its position in Community Trust Bancorp by 1.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 125,372 shares of the financial services provider’s stock valued at $6,226,000 after acquiring an additional 1,914 shares during the period. 60.20% of the stock is owned by institutional investors.

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.