Community Trust Bancorp (NASDAQ:CTBI) Releases Quarterly Earnings Results, Beats Expectations By $0.11 EPS

Key Points

• Community Trust Bancorp reported quarterly EPS of $1.50, beating estimates by $0.11, with revenue of $74.20M versus a $73.00M consensus and posted a return on equity of 11.96% and a net margin of 23.95%.
• The firm paid a quarterly dividend of $0.53 (annualized $2.12), implying a 3.3% dividend yield and a payout ratio of about 39%.
• Shares trade with a market cap of $1.17B and a P/E of 11.86, and analysts hold a consensus Buy rating with an average target price of $63.50.

Community Trust Bancorp (NASDAQ:CTBI - Get Free Report) posted its quarterly earnings data on Wednesday. The financial services provider reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.11, FiscalAI reports. The firm had revenue of $74.20 million for the quarter, compared to the consensus estimate of $73.00 million. Community Trust Bancorp had a return on equity of 11.96% and a net margin of 23.95%.

Community Trust Bancorp Trading Down 0.4%

CTBI opened at $64.42 on Wednesday. Community Trust Bancorp has a one year low of $45.92 and a one year high of $65.79. The company has a market cap of $1.17 billion, a P/E ratio of 11.86 and a beta of 0.53. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.92 and a current ratio of 0.92. The business's 50-day simple moving average is $61.72 and its 200-day simple moving average is $58.33.

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 issued a $0.53 dividend. The ex-dividend date was Friday, March 13th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.3%. Community Trust Bancorp's dividend payout ratio is presently 39.04%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CTBI. Garton & Associates Financial Advisors LLC purchased a new position in shares of Community Trust Bancorp in the 4th quarter valued at about $30,000. Strs Ohio acquired a new stake in shares of Community Trust Bancorp in the 1st quarter valued at about $86,000. Quadrant Capital Group LLC acquired a new stake in shares of Community Trust Bancorp in the 3rd quarter valued at about $86,000. Russell Investments Group Ltd. boosted its position in shares of 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 valued at $92,000 after purchasing an additional 1,365 shares during the period. Finally, Virtus Advisers LLC acquired a new stake in shares of Community Trust Bancorp in the 3rd quarter valued at about $142,000. Hedge funds and other institutional investors own 60.20% of the company's stock.

Analyst Upgrades and Downgrades

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

About Community Trust Bancorp

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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