Community Trust Bancorp (NASDAQ:CTBI) Announces Earnings Results, Beats Estimates By $0.11 EPS

Community Trust Bancorp (NASDAQ:CTBI) announced its earnings results on Wednesday. The financial services provider reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.11, FiscalAI reports. The firm had revenue of $74.20 million during the quarter, compared to analyst estimates of $73.00 million. Community Trust Bancorp had a net margin of 24.85% and a return on equity of 12.42%.

Community Trust Bancorp Stock Performance

NASDAQ:CTBI opened at $64.85 on Friday. Community Trust Bancorp has a twelve month low of $46.33 and a twelve month high of $66.49. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.08. The company has a 50-day moving average of $61.78 and a 200-day moving average of $58.43. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 11.36 and a beta of 0.53.

Community Trust Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Sunday, March 15th were given a dividend of $0.53 per share. The ex-dividend date was Friday, March 13th. This represents a $2.12 annualized dividend and a dividend yield of 3.3%. Community Trust Bancorp’s dividend payout ratio (DPR) is 39.04%.

Hedge Funds Weigh In On Community Trust Bancorp

Several large investors have recently made changes to their positions in CTBI. Janus Henderson Group PLC lifted its stake in Community Trust Bancorp by 1,175.0% during the fourth quarter. Janus Henderson Group PLC now owns 89,925 shares of the financial services provider’s stock valued at $5,081,000 after buying an additional 82,872 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Community Trust Bancorp by 60.4% during the fourth quarter. JPMorgan Chase & Co. now owns 147,957 shares of the financial services provider’s stock valued at $8,360,000 after buying an additional 55,733 shares in the last quarter. Millennium Management LLC lifted its stake in Community Trust Bancorp by 116.4% during the first quarter. Millennium Management LLC now owns 100,651 shares of the financial services provider’s stock valued at $5,069,000 after buying an additional 54,130 shares in the last quarter. First Trust Advisors LP lifted its stake in Community Trust Bancorp by 352.2% during the fourth quarter. First Trust Advisors LP now owns 45,491 shares of the financial services provider’s stock valued at $2,570,000 after buying an additional 35,431 shares in the last quarter. Finally, Qube Research & Technologies Ltd lifted its stake in Community Trust Bancorp by 43.4% during the third quarter. Qube Research & Technologies Ltd now owns 84,468 shares of the financial services provider’s stock valued at $4,726,000 after buying an additional 25,549 shares in the last quarter. Institutional investors own 60.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Community Trust Bancorp in a research report on Friday, March 27th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Community Trust Bancorp presently has a consensus rating of “Buy” and a consensus target price of $63.50.

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.