Community Trust Bancorp (NASDAQ:CTBI) Hits New 12-Month High on Strong Earnings

Key Points

• Community Trust Bancorp shares hit a new 52-week high after reporting quarterly EPS of $1.50 (vs. $1.39 consensus) and revenue of $74.2M (vs. $73.0M), with the stock trading as high as $66.00.
• The company paid a quarterly dividend of $0.53 (annualized $2.12) for a yield of 3.3% and a dividend payout ratio of 39.04%, with the dividend paid April 1 (ex-dividend March 13).
• Analyst coverage remains positive—Weiss Ratings reaffirmed a "Buy" and MarketBeat shows a consensus Buy with a $63.50 target—while the stock has a $1.17B market cap, a P/E of 11.95 and roughly 60% institutional ownership.

Community Trust Bancorp, Inc. (NASDAQ:CTBI - Get Free Report) shares hit a new 52-week high on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $66.00 and last traded at $64.5550, with a volume of 2197 shares trading hands. The stock had previously closed at $64.42.

The financial services provider reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.11. Community Trust Bancorp had a return on equity of 11.96% and a net margin of 23.95%.The business had revenue of $74.20 million during the quarter, compared to analyst estimates of $73.00 million.

Community Trust Bancorp Announces Dividend

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

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Community Trust Bancorp in a report on Friday, March 27th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Community Trust Bancorp presently has a consensus rating of "Buy" and a consensus target price of $63.50.

Hedge Funds Weigh In On Community Trust Bancorp

Several institutional investors and hedge funds have recently modified their holdings of the business. Thrivent Financial for Lutherans boosted its stake in Community Trust Bancorp by 0.3% in the 4th quarter. Thrivent Financial for Lutherans now owns 55,617 shares of the financial services provider's stock worth $3,143,000 after purchasing an additional 163 shares during the period. CANADA LIFE ASSURANCE Co raised its holdings in shares of Community Trust Bancorp by 7.6% in the second quarter. CANADA LIFE ASSURANCE Co now owns 2,958 shares of the financial services provider's stock valued at $156,000 after purchasing an additional 208 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Community Trust Bancorp by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,122 shares of the financial services provider's stock worth $459,000 after purchasing an additional 381 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Community Trust Bancorp by 51.5% in the third quarter. Farther Finance Advisors LLC now owns 1,148 shares of the financial services provider's stock valued at $64,000 after acquiring an additional 390 shares during the last quarter. Finally, Prospera Financial Services Inc raised its holdings in Community Trust Bancorp by 6.8% during the third quarter. Prospera Financial Services Inc now owns 6,983 shares of the financial services provider's stock worth $391,000 after acquiring an additional 447 shares in the last quarter. 60.20% of the stock is currently owned by institutional investors and hedge funds.

Community Trust Bancorp Stock Performance

The stock has a market capitalization of $1.17 billion, a P/E ratio of 11.95 and a beta of 0.53. The stock has a 50 day simple moving average of $61.72 and a two-hundred day simple moving average of $58.33. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.08.

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.

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