Community Trust Bancorp (NASDAQ:CTBI) Announces Earnings Results

Community Trust Bancorp (NASDAQ:CTBI) announced its quarterly earnings data on Wednesday. The financial services provider reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.08, Zacks reports. The firm had revenue of $95.38 million during the quarter, compared to analyst estimates of $62.00 million. Community Trust Bancorp had a return on equity of 11.14% and a net margin of 21.85%.

Community Trust Bancorp Stock Up 2.5 %

CTBI stock opened at $52.78 on Friday. The business has a 50-day moving average of $48.68 and a 200-day moving average of $45.32. Community Trust Bancorp has a fifty-two week low of $35.52 and a fifty-two week high of $52.90. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market capitalization of $951.41 million, a P/E ratio of 11.94 and a beta of 0.64.

Community Trust Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Sunday, September 15th were given a dividend of $0.47 per share. This is a boost from Community Trust Bancorp’s previous quarterly dividend of $0.46. This represents a $1.88 annualized dividend and a dividend yield of 3.56%. The ex-dividend date of this dividend was Friday, September 13th. Community Trust Bancorp’s dividend payout ratio is currently 43.62%.

Analyst Upgrades and Downgrades

Separately, Raymond James raised Community Trust Bancorp from a “market perform” rating to an “outperform” rating and set a $60.00 price target on the stock in a research report on Friday.

Insider Activity at Community Trust Bancorp

In other Community Trust Bancorp news, EVP David Andrew Jones acquired 10,000 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was bought at an average cost of $32.27 per share, with a total value of $322,700.00. Following the completion of the transaction, the executive vice president now directly owns 10,000 shares in the company, valued at approximately $322,700. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 4.30% of the company’s stock.

Community Trust Bancorp Company Profile

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.