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

Community Trust Bancorp (NASDAQ:CTBI - Get Free Report) posted its quarterly earnings results on Wednesday. The financial services provider reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.11, Zacks reports. Community Trust Bancorp had a return on equity of 11.92% and a net margin of 23.33%. The company had revenue of $70.21 million for the quarter, compared to the consensus estimate of $68.00 million.

Community Trust Bancorp Stock Performance

Shares of NASDAQ CTBI traded up $0.14 during midday trading on Friday, hitting $56.94. 74,866 shares of the stock traded hands, compared to its average volume of 56,703. The firm has a 50-day moving average of $52.74 and a two-hundred day moving average of $51.97. The firm has a market capitalization of $1.03 billion, a P/E ratio of 11.21 and a beta of 0.58. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.92 and a current ratio of 0.92. Community Trust Bancorp has a one year low of $44.60 and a one year high of $61.67.

Community Trust Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Sunday, June 15th were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.88 annualized dividend and a dividend yield of 3.30%. Community Trust Bancorp's payout ratio is 37.01%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Piper Sandler lowered their price target on Community Trust Bancorp from $60.00 to $56.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Raymond James Financial reissued an "outperform" rating and set a $63.00 price target (up from $58.00) on shares of Community Trust Bancorp in a report on Thursday.

Insider Buying and Selling at Community Trust Bancorp

In other news, Director Franky Minnifield purchased 2,000 shares of the stock in a transaction dated Monday, June 2nd. The shares were purchased at an average cost of $51.01 per share, with a total value of $102,020.00. Following the acquisition, the director directly owned 17,099 shares of the company's stock, valued at $872,219.99. This represents a 13.25% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 4.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Community Trust Bancorp

Institutional investors have recently bought and sold shares of the stock. Strs Ohio bought a new position in Community Trust Bancorp in the 1st quarter worth $86,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Community Trust Bancorp by 4.4% in the 1st 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 during the period. Jane Street Group LLC raised its holdings in Community Trust Bancorp by 158.5% in the 1st quarter. Jane Street Group LLC now owns 28,493 shares of the financial services provider's stock worth $1,435,000 after purchasing an additional 17,470 shares during the period. Finally, Millennium Management LLC raised its holdings in Community Trust Bancorp by 116.4% in the 1st quarter. Millennium Management LLC now owns 100,651 shares of the financial services provider's stock worth $5,069,000 after purchasing an additional 54,130 shares during the period. 60.20% of the stock is owned by institutional investors.

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.