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

Community Trust Bancorp, Inc. (NASDAQ:CTBI - Get Free Report) saw a significant increase in short interest during 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. Based on an average daily trading volume, of 50,100 shares, the short-interest ratio is presently 2.5 days. Currently, 0.7% of the shares of the company are sold short.

Insider Activity

In related news, Director Franky Minnifield acquired 2,000 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were acquired at an average price of $39.28 per share, for a total transaction of $78,560.00. Following the completion of the purchase, the director now directly owns 14,401 shares of the company's stock, valued at $565,671.28. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders have acquired 2,602 shares of company stock valued at $102,359. Insiders own 4.30% of the company's stock.

Institutional Investors Weigh In On Community Trust Bancorp

Hedge funds have recently made changes to their positions in the stock. Parallel Advisors LLC lifted its position in shares of Community Trust Bancorp by 77.8% in the 4th quarter. Parallel Advisors LLC now owns 704 shares of the financial services provider's stock worth $31,000 after purchasing an additional 308 shares during the period. SG Americas Securities LLC bought a new stake in shares of Community Trust Bancorp in the 4th quarter worth $109,000. Quest Partners LLC bought a new stake in shares of Community Trust Bancorp in the 4th quarter worth $151,000. PBMares Wealth Management LLC bought a new stake in shares of Community Trust Bancorp in the 4th quarter worth $201,000. Finally, Chatham Capital Group Inc. purchased a new position in shares of Community Trust Bancorp in the 4th quarter worth about $234,000. 60.20% of the stock is currently owned by institutional investors and hedge funds.

Community Trust Bancorp Stock Performance

NASDAQ:CTBI traded up $0.70 during mid-day trading on Wednesday, reaching $42.71. 43,798 shares of the company's stock were exchanged, compared to its average volume of 47,160. Community Trust Bancorp has a one year low of $32.68 and a one year high of $45.74. The firm has a market capitalization of $769.63 million, a PE ratio of 9.91 and a beta of 0.68. The business's fifty day simple moving average is $40.78 and its two-hundred day simple moving average is $40.75. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.87 and a current ratio of 0.87.

Community Trust Bancorp Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages recently commented on CTBI. Janney Montgomery Scott started coverage on shares of Community Trust Bancorp in a report on Wednesday, March 27th. They issued a "buy" rating and a $49.00 target price on the stock. Piper Sandler started coverage on shares of Community Trust Bancorp in a research report on Friday, February 16th. They set an "overweight" rating and a $47.00 target price on the stock.

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.

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