Community Trust Bancorp (NASDAQ:CTBI) Announces Earnings Results, Beats Expectations By $0.12 EPS

Community Trust Bancorp (NASDAQ:CTBI) released its earnings results on Wednesday. The financial services provider reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.12, Zacks reports. Community Trust Bancorp had a return on equity of 12.27% and a net margin of 24.85%.

Community Trust Bancorp Price Performance

Shares of NASDAQ:CTBI opened at $72.25 on Wednesday. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 12.65 and a beta of 0.54. Community Trust Bancorp has a one year low of $50.25 and a one year high of $74.57. The company has a 50-day simple moving average of $68.68 and a 200-day simple moving average of $64.05. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.92 and a current ratio of 0.92.

Community Trust Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th were paid a $0.53 dividend. The ex-dividend date was Monday, June 15th. This represents a $2.12 dividend on an annualized basis and a yield of 2.9%. Community Trust Bancorp’s payout ratio is currently 37.13%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CTBI. Zacks Research lowered Community Trust Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. Piper Sandler assumed coverage on Community Trust Bancorp in a research note on Thursday, June 11th. They set a “neutral” rating and a $76.00 price objective on the stock. Finally, Weiss Ratings upgraded shares of Community Trust Bancorp from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $68.50.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Garton & Associates Financial Advisors LLC purchased a new stake in Community Trust Bancorp in the 4th quarter valued at about $30,000. Quadrant Capital Group LLC bought a new stake in shares of Community Trust Bancorp in the 3rd quarter worth approximately $86,000. Russell Investments Group Ltd. grew its holdings in Community Trust Bancorp by 478.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,650 shares of the financial services provider’s stock worth $92,000 after buying an additional 1,365 shares in the last quarter. Strs Ohio acquired a new stake in Community Trust Bancorp in the first quarter worth approximately $86,000. Finally, Virtus Advisers LLC acquired a new stake in Community Trust Bancorp in the 3rd quarter valued at about $142,000. 60.20% of the stock is owned by hedge funds and other institutional investors.

Community Trust Bancorp Company Profile

Community Trust Bancorp, Inc is a bank holding company headquartered in Pikeville, Kentucky. As the parent of Community Trust Bank, the company provides a comprehensive range of banking services to individuals, families and businesses throughout eastern Kentucky, southern West Virginia and northeast Tennessee. With origins dating back to the early 20th century, the organization has built a reputation for supporting community development and regional economic growth across the Appalachian region.

The company’s personal banking offerings include checking and savings accounts, consumer installment loans, home equity and mortgage lending, as well as online and mobile banking platforms.