Community Trust Bancorp (NASDAQ:CTBI) Posts Earnings Results, Beats Estimates By $0.08 EPS

Community Trust Bancorp (NASDAQ:CTBI) released its quarterly earnings data on Wednesday. The financial services provider reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.08, FiscalAI reports. Community Trust Bancorp had a net margin of 23.24% and a return on equity of 11.73%. The firm had revenue of $74.72 million for the quarter, compared to analyst estimates of $73.15 million.

Community Trust Bancorp Stock Performance

CTBI opened at $64.92 on Thursday. The business has a 50 day moving average of $57.50 and a 200-day moving average of $56.04. Community Trust Bancorp has a 12-month low of $44.60 and a 12-month high of $64.99. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 12.56 and a beta of 0.58. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.08.

Community Trust Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 15th were issued a dividend of $0.53 per share. The ex-dividend date was Monday, December 15th. This represents a $2.12 dividend on an annualized basis and a yield of 3.3%. Community Trust Bancorp’s dividend payout ratio (DPR) is presently 41.01%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CTBI shares. Raymond James Financial set a $61.00 price objective on Community Trust Bancorp in a research report on Wednesday, October 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of Community Trust Bancorp in a research report on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Community Trust Bancorp has an average rating of “Buy” and a consensus target price of $63.50.

Hedge Funds Weigh In On Community Trust Bancorp

A number of hedge funds have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC acquired a new stake in Community Trust Bancorp in the third quarter valued at about $86,000. Russell Investments Group Ltd. raised its stake in Community Trust Bancorp by 478.9% during the third 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 during the last quarter. Strs Ohio acquired a new position in Community Trust Bancorp in the first quarter valued at approximately $86,000. Virtus Advisers LLC acquired a new stake in shares of Community Trust Bancorp in the 3rd quarter valued at about $142,000. Finally, Quantbot Technologies LP acquired a new position in shares of Community Trust Bancorp during the second quarter worth approximately $148,000. Institutional investors own 60.20% of the company’s stock.

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.