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

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

Community Trust Bancorp Stock Performance

CTBI opened at $51.48 on Friday. The firm has a fifty day moving average price of $48.68 and a 200 day moving average price of $45.32. Community Trust Bancorp has a 1 year low of $35.35 and a 1 year high of $52.76. The stock has a market cap of $927.98 million, a P/E ratio of 11.94 and a beta of 0.64. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.88.

Community Trust Bancorp Increases Dividend

The company 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 3.65%. 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 payout ratio is 43.62%.

Insider Activity at Community Trust Bancorp

In other news, EVP David Andrew Jones acquired 10,000 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was acquired at an average price of $32.27 per share, for a total transaction of $322,700.00. Following the completion of the transaction, the executive vice president now owns 10,000 shares in the company, valued at approximately $322,700. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

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.

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.