Community Trust Bancorp (NASDAQ:CTBI) Announces Quarterly Earnings Results, Beats Estimates By $0.12 EPS

Community Trust Bancorp (NASDAQ:CTBI) released its quarterly earnings data on Wednesday. The financial services provider reported $1.64 EPS for the quarter, topping the consensus estimate of $1.52 by $0.12, Zacks reports. Community Trust Bancorp had a net margin of 24.85% and a return on equity of 12.27%.

Community Trust Bancorp Stock Performance

Community Trust Bancorp stock opened at $72.25 on Wednesday. Community Trust Bancorp has a 1-year low of $50.25 and a 1-year high of $74.57. 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 firm has a market capitalization of $1.31 billion, a PE ratio of 12.65 and a beta of 0.54. The firm’s 50 day simple moving average is $68.68 and its 200 day simple moving average is $64.05.

Community Trust Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 15th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Monday, June 15th. Community Trust Bancorp’s dividend payout ratio is 37.13%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Garton & Associates Financial Advisors LLC bought a new position in shares of Community Trust Bancorp in the fourth quarter worth $30,000. Quadrant Capital Group LLC bought a new stake in Community Trust Bancorp during the third quarter valued at $86,000. Russell Investments Group Ltd. grew its position in Community Trust Bancorp by 478.9% during the third quarter. Russell Investments Group Ltd. now owns 1,650 shares of the financial services provider’s stock worth $92,000 after buying an additional 1,365 shares in the last quarter. Strs Ohio purchased a new position in Community Trust Bancorp during the first quarter worth about $86,000. Finally, Virtus Advisers LLC bought a new position in Community Trust Bancorp in the 3rd quarter worth about $142,000. 60.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on CTBI shares. Zacks Research downgraded Community Trust Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. Weiss Ratings upgraded Community Trust Bancorp from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, May 18th. Finally, Piper Sandler initiated coverage on Community Trust Bancorp in a research note on Thursday, June 11th. They set a “neutral” rating and a $76.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $68.50.

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.