Short Interest in Community Trust Bancorp, Inc. (NASDAQ:CTBI) Increases By 7.7%

Community Trust Bancorp, Inc. (NASDAQ:CTBI) was the recipient of a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 123,900 shares, an increase of 7.7% from the March 31st total of 115,000 shares. Currently, 0.7% of the company’s stock are short sold. Based on an average daily trading volume, of 50,100 shares, the short-interest ratio is currently 2.5 days.

Insider Buying and Selling

In other Community Trust Bancorp news, Director Franky Minnifield bought 2,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were purchased at an average cost of $39.28 per share, with a total value of $78,560.00. Following the purchase, the director now directly owns 14,401 shares in the company, valued at $565,671.28. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have acquired a total of 2,602 shares of company stock valued at $102,359 in the last ninety days. Company insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its position in shares of Community Trust Bancorp by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,158,760 shares of the financial services provider’s stock valued at $50,824,000 after buying an additional 9,507 shares during the last quarter. Clifford Capital Partners LLC boosted its stake in Community Trust Bancorp by 3.9% during the 3rd quarter. Clifford Capital Partners LLC now owns 319,257 shares of the financial services provider’s stock worth $10,938,000 after purchasing an additional 12,121 shares during the period. LSV Asset Management boosted its stake in Community Trust Bancorp by 50.7% during the 3rd quarter. LSV Asset Management now owns 267,757 shares of the financial services provider’s stock worth $9,173,000 after purchasing an additional 90,100 shares during the period. American Century Companies Inc. boosted its stake in Community Trust Bancorp by 12.4% during the 3rd quarter. American Century Companies Inc. now owns 152,823 shares of the financial services provider’s stock worth $5,236,000 after purchasing an additional 16,907 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Community Trust Bancorp by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 120,219 shares of the financial services provider’s stock worth $5,273,000 after purchasing an additional 2,090 shares during the period. 60.20% of the stock is owned by hedge funds and other institutional investors.

Community Trust Bancorp Trading Up 1.7 %

NASDAQ CTBI opened at $42.71 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.87 and a quick ratio of 0.87. The firm’s fifty day moving average price is $40.78 and its 200 day moving average price is $40.75. The company has a market capitalization of $769.63 million, a price-to-earnings ratio of 9.91 and a beta of 0.68. Community Trust Bancorp has a 12 month low of $32.68 and a 12 month high of $45.74.

Community Trust Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Saturday, June 15th will be given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date is Friday, June 14th. Community Trust Bancorp’s dividend payout ratio (DPR) is 42.69%.

Analyst Upgrades and Downgrades

CTBI has been the topic of a number of recent analyst reports. Janney Montgomery Scott initiated coverage on shares of Community Trust Bancorp in a research report on Wednesday, March 27th. They issued a “buy” rating and a $49.00 price objective on the stock. Piper Sandler initiated coverage on shares of Community Trust Bancorp in a research report on Friday, February 16th. They issued an “overweight” rating and a $47.00 price objective on the 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.