Community Trust Bancorp (NASDAQ:CTBI) Announces Quarterly Earnings Results

Key Points

• Community Trust Bancorp reported quarterly EPS of $1.43, missing the $1.65 analyst consensus by $0.22. Revenue totaled $79.70 million, slightly below the $80.20 million estimate.
• CTBI shares opened at $75.30, with a market capitalization of approximately $1.37 billion and a P/E ratio of 12.61. The stock has traded between $50.25 and $79.92 over the past year.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $81.50; recent targets include $81 from Piper Sandler and $82 from Raymond James.

Community Trust Bancorp (NASDAQ:CTBI - Get Free Report) posted its earnings results on Wednesday. The financial services provider reported $1.43 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.22), FiscalAI reports. The firm had revenue of $79.70 million during the quarter, compared to analyst estimates of $80.20 million. Community Trust Bancorp had a net margin of 25.55% and a return on equity of 12.52%.

Community Trust Bancorp Price Performance

CTBI stock opened at $75.30 on Wednesday. Community Trust Bancorp has a 1 year low of $50.25 and a 1 year high of $79.92. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.94 and a current ratio of 0.94. The stock's 50 day moving average price is $76.14 and its 200 day moving average price is $71.87. The firm has a market cap of $1.37 billion, a P/E ratio of 12.61 and a beta of 0.54.

Insider Buying and Selling

In other Community Trust Bancorp news, Director Franky Minnifield sold 3,900 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $78.85, for a total transaction of $307,515.00. Following the sale, the director owned 8,320 shares in the company, valued at approximately $656,032. This represents a 31.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.60% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on CTBI. Piper Sandler boosted their price objective on shares of Community Trust Bancorp from $76.00 to $81.00 and gave the stock a "neutral" rating in a research report on Thursday, July 16th. Raymond James Financial began coverage on shares of Community Trust Bancorp in a report on Tuesday, September 1st. They set an "outperform" rating and a $82.00 target price for the company. Finally, Weiss Ratings upgraded shares of Community Trust Bancorp from a "buy (a-)" rating to a "buy (a)" rating in a report on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $81.50.

About Community Trust Bancorp

Community Trust Bancorp, Inc is a bank holding company headquartered in Pikeville, Kentucky. Through its principal subsidiary, Community Trust Bank, the company provides banking and financial services to individuals, businesses and organizations.

Its products and services include checking and savings accounts, certificates of deposit, consumer and mortgage loans, commercial lending, agricultural financing and other credit products. Community Trust also offers trust and wealth-management services, investment products, insurance and digital banking tools.

Community Trust Bank traces its history to 1903 and has developed a regional banking network serving communities primarily throughout eastern and central Kentucky, as well as portions of southern West Virginia.

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