Community Trust Bancorp (NASDAQ:CTBI) Releases Earnings Results, Beats Expectations By $0.05 EPS

Community Trust Bancorp (NASDAQ:CTBI) issued its earnings results on Wednesday. The financial services provider reported $1.25 earnings per share for the quarter, beating 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%. During the same quarter in the previous year, the firm posted $1.04 earnings per share.

Community Trust Bancorp Stock Performance

Shares of Community Trust Bancorp stock opened at $53.99 on Thursday. Community Trust Bancorp has a 1 year low of $38.44 and a 1 year high of $61.67. The firm’s 50-day moving average is $56.27 and its 200 day moving average is $51.36. The stock has a market cap of $975.06 million, a price-to-earnings ratio of 12.27 and a beta of 0.67. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.90 and a quick ratio of 0.90.

Community Trust Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Sunday, December 15th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date was Friday, December 13th. Community Trust Bancorp’s dividend payout ratio (DPR) is presently 42.73%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CTBI. Piper Sandler restated an “overweight” rating and issued a $64.00 target price on shares of Community Trust Bancorp in a report on Friday, November 8th. Raymond James upgraded 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 report on Friday, October 18th.

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.