Community Trust Bancorp (NASDAQ:CTBI) Issues Earnings Results

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

Community Trust Bancorp Stock Performance

Community Trust Bancorp stock opened at $75.30 on Wednesday. The stock has a fifty day moving average price of $76.14 and a 200 day moving average price of $71.87. Community Trust Bancorp has a 52 week low of $50.25 and a 52 week high of $79.92. The firm has a market capitalization of $1.37 billion, a P/E ratio of 12.61 and a beta of 0.54. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.08.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Community Trust Bancorp

In other Community Trust Bancorp news, Director Franky Minnifield sold 3,900 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $78.85, for a total value of $307,515.00. Following the sale, the director directly owned 8,320 shares of the company’s stock, valued at approximately $656,032. This trade represents a 31.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.60% of the company’s stock.

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.