Community Trust Bancorp (NASDAQ:CTBI) Posts Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Community Trust Bancorp (NASDAQ:CTBI) released its quarterly earnings results on Wednesday. The financial services provider reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.05, Zacks reports. Community Trust Bancorp had a return on equity of 10.93% and a net margin of 21.64%.

Community Trust Bancorp Price Performance

Shares of NASDAQ:CTBI traded up $0.83 during trading on Wednesday, reaching $53.60. 4,624 shares of the company traded hands, compared to its average volume of 70,317. The firm has a market capitalization of $967.91 million, a PE ratio of 12.18 and a beta of 0.67. Community Trust Bancorp has a 52 week low of $38.44 and a 52 week high of $61.67. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.09. The company’s 50 day moving average is $56.41 and its two-hundred day moving average is $51.34.

Community Trust Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Sunday, December 15th were issued a $0.47 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.88 annualized dividend and a yield of 3.51%. Community Trust Bancorp’s dividend payout ratio is presently 42.73%.

Wall Street Analyst Weigh In

Several research firms have weighed in on CTBI. Piper Sandler reiterated an “overweight” rating and set a $64.00 price objective on shares of Community Trust Bancorp in a research report on Friday, November 8th. Raymond James raised shares of 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, October 18th.

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.