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

Community Trust Bancorp, Inc. (NASDAQ:CTBI) saw a large decline in short interest in 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 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 sold short.

Wall Street Analysts Forecast Growth

CTBI has been the topic of several research reports. Raymond James raised 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. Piper Sandler reiterated an “overweight” rating and set a $64.00 target price on shares of Community Trust Bancorp in a report on Friday, November 8th.

Community Trust Bancorp Stock Down 1.4 %

CTBI stock traded down $0.79 during mid-day trading on Tuesday, reaching $57.57. The company had a trading volume of 55,897 shares, compared to its average volume of 50,052. The firm has a fifty day simple moving average of $55.66 and a 200 day simple moving average of $49.65. 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 has a market capitalization of $1.04 billion, a price-to-earnings ratio of 13.02 and a beta of 0.66. Community Trust Bancorp has a fifty-two week low of $38.44 and a fifty-two week high of $61.67.

Community Trust Bancorp (NASDAQ:CTBI) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $95.38 million during the quarter, compared to the consensus estimate of $62.00 million. Analysts forecast 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 announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Sunday, December 15th will be paid 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 payout ratio is currently 42.73%.

Hedge Funds Weigh In On Community Trust Bancorp

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

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.