Community Trust Bancorp (NASDAQ:CTBI) Issues Earnings Results, Beats Expectations By $0.03 EPS

Community Trust Bancorp (NASDAQ:CTBI - Get Free Report) posted its earnings results on Wednesday. The financial services provider reported $1.22 earnings per share for the quarter, topping analysts' consensus estimates of $1.19 by $0.03, RTT News reports. Community Trust Bancorp had a net margin of 22.02% and a return on equity of 11.36%. The firm had revenue of $66.16 million for the quarter, compared to the consensus estimate of $64.92 million. During the same period in the previous year, the firm posted $1.04 EPS.

Community Trust Bancorp Trading Up 0.4 %

Shares of NASDAQ:CTBI traded up $0.21 during trading hours on Monday, hitting $47.40. 20,653 shares of the company's stock traded hands, compared to its average volume of 55,319. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.90 and a quick ratio of 0.90. The business has a fifty day moving average price of $51.07 and a 200-day moving average price of $53.38. Community Trust Bancorp has a 1 year low of $40.19 and a 1 year high of $61.67. The firm has a market capitalization of $858.03 million, a P/E ratio of 10.28 and a beta of 0.55.

Community Trust Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Saturday, March 15th were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.97%. The ex-dividend date of this dividend was Friday, March 14th. Community Trust Bancorp's payout ratio is currently 40.78%.

Analysts Set New Price Targets

Several brokerages have weighed in on CTBI. Piper Sandler reduced their price objective on Community Trust Bancorp from $60.00 to $56.00 and set an "overweight" rating on the stock in a research note on Thursday. Raymond James decreased their price target on Community Trust Bancorp from $60.00 to $58.00 and set an "outperform" rating on the stock in a report on Wednesday, April 2nd.

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.