Community Trust Bancorp (NASDAQ:CTBI) Issues Earnings Results

Community Trust Bancorp (NASDAQ:CTBI) announced 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 return on equity of 12.52% and a net margin of 25.55%. The company had revenue of $79.70 million for the quarter, compared to the consensus estimate of $80.20 million.

Community Trust Bancorp Trading Up 1.7%

Shares of NASDAQ:CTBI opened at $75.30 on Wednesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.94 and a current ratio of 0.94. The stock’s 50-day moving average is $76.14 and its 200-day moving average is $71.87. The company has a market cap of $1.37 billion, a P/E ratio of 12.61 and a beta of 0.54. Community Trust Bancorp has a 52-week low of $50.25 and a 52-week high of $79.92.

Insider Buying and Selling at Community Trust Bancorp

In related news, Director Franky Minnifield sold 3,900 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $78.85, for a total transaction of $307,515.00. Following the completion of the sale, the director owned 8,320 shares in the company, valued at $656,032. This represents a 31.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.