Short Interest in Community Trust Bancorp, Inc. (NASDAQ:CTBI) Drops By 8.8%

Community Trust Bancorp, Inc. (NASDAQ:CTBI - Get Free Report) was the recipient of a large decline in short interest in the month of November. As of November 30th, there was short interest totalling 85,700 shares, a decline of 8.8% from the November 15th total of 94,000 shares. Based on an average daily trading volume, of 49,900 shares, the days-to-cover ratio is presently 1.7 days. Approximately 0.5% of the company's shares are short sold.

Community Trust Bancorp Trading Down 1.4 %

Shares of CTBI stock traded down $0.79 during mid-day trading on Tuesday, hitting $57.57. The company's stock had a trading volume of 61,047 shares, compared to its average volume of 50,073. Community Trust Bancorp has a 52 week low of $38.44 and a 52 week high of $61.67. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.90 and a current ratio of 0.90. The company's fifty day simple moving average is $55.66 and its 200-day simple moving average is $49.65. The company has a market cap of $1.04 billion, a PE ratio of 13.02 and a beta of 0.66.

Community Trust Bancorp (NASDAQ:CTBI - Get Free Report) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.08. The firm had revenue of $95.38 million for the quarter, compared to analyst estimates 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, equities research analysts expect that Community Trust Bancorp will post 4.56 earnings per share for the current fiscal year.

Community Trust Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Sunday, December 15th will be given a dividend of $0.47 per share. The ex-dividend date is Friday, December 13th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.27%. Community Trust Bancorp's dividend payout ratio (DPR) is presently 42.73%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Piper Sandler restated an "overweight" rating and set a $64.00 price objective on shares of Community Trust Bancorp in a research report on Friday, November 8th. 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 report on Friday, October 18th.

Institutional Trading of Community Trust Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Thoroughbred Financial Services LLC acquired a new position in shares of Community Trust Bancorp during the second quarter worth approximately $2,891,000. Thrivent Financial for Lutherans raised its holdings in Community Trust Bancorp by 23.9% during the third quarter. Thrivent Financial for Lutherans now owns 80,948 shares of the financial services provider's stock worth $4,020,000 after buying an additional 15,619 shares during the last quarter. Creative Planning bought a new position in shares of Community Trust Bancorp in the third quarter valued at $498,000. Bank of Montreal Can bought a new position in Community Trust Bancorp in the 2nd quarter valued at about $764,000. Finally, Clifford Capital Partners LLC lifted its holdings in shares of Community Trust Bancorp by 7.8% in the second quarter. Clifford Capital Partners LLC now owns 324,515 shares of the financial services provider's stock valued at $14,168,000 after purchasing an additional 23,564 shares in the last quarter. 60.20% of the stock is owned by institutional investors.

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.