Community Trust Bancorp (NASDAQ:CTBI) Issues Earnings Results, Beats Expectations By $0.08 EPS

Community Trust Bancorp (NASDAQ:CTBI) issued its earnings results on Wednesday. The financial services provider reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.08, Zacks reports. The business 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 Price Performance

Shares of CTBI opened at $52.78 on Friday. The firm has a market cap of $951.41 million, a PE ratio of 11.94 and a beta of 0.64. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09. The firm has a fifty day simple moving average of $48.68 and a two-hundred day simple moving average of $45.32. Community Trust Bancorp has a 1-year low of $35.52 and a 1-year high of $52.90.

Community Trust Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Sunday, September 15th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 3.56%. This is a positive change from Community Trust Bancorp’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Friday, September 13th. Community Trust Bancorp’s dividend payout ratio (DPR) is presently 43.62%.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, EVP David Andrew Jones bought 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The stock was bought at an average price of $32.27 per share, with a total value of $322,700.00. Following the acquisition, the executive vice president now owns 10,000 shares of the company’s stock, valued at approximately $322,700. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 4.30% of the company’s stock.

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.