Community Trust Bancorp, Inc. (NASDAQ:CTBI) issued its quarterly earnings results on Wednesday. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.68 by $0.03, MarketWatch Earnings reports. Community Trust Bancorp had a return on equity of 9.40% and a net margin of 24.01%. The business had revenue of $46.55 million for the quarter, compared to analysts’ expectations of $46.70 million.
Shares of Community Trust Bancorp (NASDAQ:CTBI) traded up 0.644% during trading on Thursday, reaching $42.975. The company had a trading volume of 1,881 shares. The company has a market capitalization of $756.96 million, a P/E ratio of 16.059 and a beta of 0.69. The firm has a 50-day moving average price of $43.42 and a 200-day moving average price of $45.04. Community Trust Bancorp has a 52-week low of $34.43 and a 52-week high of $51.35.
The firm also recently declared a quarterly dividend, which was paid on Saturday, July 1st. Investors of record on Thursday, June 15th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date was Tuesday, June 13th. Community Trust Bancorp’s dividend payout ratio (DPR) is 47.94%.
A number of equities analysts have recently commented on CTBI shares. Sandler O’Neill raised Community Trust Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, March 29th. Zacks Investment Research raised Community Trust Bancorp from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Tuesday, April 11th. Hilliard Lyons raised Community Trust Bancorp from an “underperform” rating to a “neutral” rating and lowered their price objective for the stock from $44.00 to $43.00 in a research report on Friday, April 21st. ValuEngine raised Community Trust Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, June 3rd. Finally, BidaskClub downgraded Community Trust Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Community Trust Bancorp has an average rating of “Hold” and an average price target of $46.00.
In other news, EVP Mark A. Gooch sold 5,500 shares of Community Trust Bancorp stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $44.79, for a total value of $246,345.00. Following the completion of the transaction, the executive vice president now owns 21,206 shares in the company, valued at approximately $949,816.74. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Andy D. Waters sold 824 shares of Community Trust Bancorp stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $42.35, for a total value of $34,896.40. Following the completion of the transaction, the insider now owns 1,268 shares of the company’s stock, valued at approximately $53,699.80. The disclosure for this sale can be found here. 4.80% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Dean Investment Associates LLC raised its position in shares of Community Trust Bancorp by 9.2% in the first quarter. Dean Investment Associates LLC now owns 106,635 shares of the financial services provider’s stock valued at $4,879,000 after buying an additional 9,005 shares during the last quarter. State Street Corp raised its position in shares of Community Trust Bancorp by 12.7% in the fourth quarter. State Street Corp now owns 305,572 shares of the financial services provider’s stock valued at $15,155,000 after buying an additional 34,368 shares during the last quarter. Numeric Investors LLC purchased a new position in shares of Community Trust Bancorp during the fourth quarter valued at approximately $203,000. Renaissance Technologies LLC raised its position in shares of Community Trust Bancorp by 9.8% in the fourth quarter. Renaissance Technologies LLC now owns 194,577 shares of the financial services provider’s stock valued at $9,651,000 after buying an additional 17,377 shares during the last quarter. Finally, Oxford Asset Management bought a new position in Community Trust Bancorp during the first quarter worth about $305,000. Institutional investors own 58.97% of the company’s stock.
About Community Trust Bancorp
Community Trust Bancorp, Inc is a bank holding company. The Company holds interests in a commercial bank, Community Trust Bank, Inc (the Bank), and a trust company, Community Trust and Investment Company. Through its subsidiaries, the Company engages in a range of commercial and personal banking, and trust and wealth management activities, which include accepting time and demand deposits; making secured and unsecured loans to corporations, individuals and others; providing cash management services to corporate and individual customers; issuing letters of credit; renting safe deposit boxes, and providing funds transfer services.
Receive News & Ratings for Community Trust Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Community Trust Bancorp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
