Community Trust Bancorp, Inc. (NASDAQ:CTBI) Issues Earnings Results, Misses Estimates By $0.03 EPS
Community Trust Bancorp, Inc. (NASDAQ:CTBI) issued its earnings results on Wednesday. The financial services provider reported $0.65 EPS for the quarter, missing analysts’ consensus estimates 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%.
Community Trust Bancorp (CTBI) opened at 42.70 on Thursday. The company’s 50 day moving average is $43.42 and its 200 day moving average is $45.04. The stock has a market cap of $752.12 million, a PE ratio of 15.96 and a beta of 0.69. Community Trust Bancorp has a 12 month low of $34.43 and a 12 month high of $51.35.
The business also recently declared a quarterly dividend, which was paid on Saturday, July 1st. Investors of record on Thursday, June 15th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend was Tuesday, June 13th. Community Trust Bancorp’s dividend payout ratio is currently 47.94%.
A number of equities analysts have issued reports on the stock. BidaskClub cut shares of Community Trust Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday. Zacks Investment Research cut shares of Community Trust Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. ValuEngine upgraded shares of Community Trust Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, June 3rd. Hilliard Lyons upgraded shares of Community Trust Bancorp from an “underperform” rating to a “neutral” rating and decreased their price objective for the company from $44.00 to $43.00 in a research report on Friday, April 21st. Finally, Sandler O’Neill upgraded shares of Community Trust Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, March 29th. One investment 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 presently has a consensus rating of “Hold” and an average target price of $46.00.
In other news, insider Andy D. Waters sold 824 shares of Community Trust Bancorp stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $42.35, for a total value of $34,896.40. Following the transaction, the insider now owns 1,268 shares of the company’s stock, valued at approximately $53,699.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction of $246,345.00. Following the completion of the transaction, the executive vice president now directly owns 21,206 shares in the company, valued at approximately $949,816.74. The disclosure for this sale can be found here. Company insiders own 4.80% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of CTBI. Dean Investment Associates LLC boosted its stake in 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 worth $4,879,000 after buying an additional 9,005 shares during the period. State Street Corp boosted its stake 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 acquired a new stake in shares of Community Trust Bancorp during the fourth quarter valued at approximately $203,000. Renaissance Technologies LLC boosted its stake 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 acquired a new stake in shares of Community Trust Bancorp during the first quarter valued at approximately $305,000. 58.97% of the stock is currently owned by hedge funds and other institutional investors.
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Community Trust Bancorp Company Profile
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.
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