Community Trust Bancorp, Inc. (NASDAQ:CTBI) Expected to Announce Quarterly Sales of $48.60 Million

Wall Street analysts forecast that Community Trust Bancorp, Inc. (NASDAQ:CTBI) will post $48.60 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Community Trust Bancorp’s earnings. The lowest sales estimate is $48.20 million and the highest is $49.00 million. Community Trust Bancorp posted sales of $48.28 million during the same quarter last year, which suggests a positive year over year growth rate of 0.7%. The company is expected to issue its next quarterly earnings report on Wednesday, July 15th.

On average, analysts expect that Community Trust Bancorp will report full year sales of $200.65 million for the current year, with estimates ranging from $197.30 million to $204.00 million. For the next fiscal year, analysts expect that the business will report sales of $199.80 million, with estimates ranging from $195.00 million to $204.60 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Community Trust Bancorp.

Community Trust Bancorp (NASDAQ:CTBI) last announced its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $0.37 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by ($0.22). The company had revenue of $47.77 million during the quarter, compared to analyst estimates of $48.20 million. Community Trust Bancorp had a net margin of 24.03% and a return on equity of 9.26%.

A number of equities analysts have recently commented on CTBI shares. ValuEngine cut Community Trust Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday. BidaskClub cut Community Trust Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, June 3rd. Piper Sandler lowered their price target on Community Trust Bancorp from $48.00 to $42.00 and set a “neutral” rating for the company in a report on Monday, March 2nd. Finally, Zacks Investment Research cut Community Trust Bancorp from a “hold” rating to a “strong sell” rating in a report on Tuesday.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Community Trust & Investment Co. increased its holdings in Community Trust Bancorp by 0.7% in the 1st quarter. Community Trust & Investment Co. now owns 1,775,385 shares of the financial services provider’s stock worth $56,439,000 after purchasing an additional 12,798 shares in the last quarter. BlackRock Inc. grew its position in shares of Community Trust Bancorp by 1.5% in the 1st quarter. BlackRock Inc. now owns 1,276,779 shares of the financial services provider’s stock valued at $40,587,000 after buying an additional 18,724 shares during the last quarter. Dalton Greiner Hartman Maher & Co. grew its position in shares of Community Trust Bancorp by 1.3% in the 1st quarter. Dalton Greiner Hartman Maher & Co. now owns 433,604 shares of the financial services provider’s stock valued at $13,784,000 after buying an additional 5,542 shares during the last quarter. State Street Corp grew its position in shares of Community Trust Bancorp by 3.9% in the 4th quarter. State Street Corp now owns 390,427 shares of the financial services provider’s stock valued at $18,356,000 after buying an additional 14,673 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Community Trust Bancorp in the 4th quarter valued at about $15,889,000. 58.83% of the stock is owned by institutional investors and hedge funds.

NASDAQ CTBI traded down $1.29 during midday trading on Monday, hitting $30.70. The company had a trading volume of 121,706 shares, compared to its average volume of 51,331. The company has a market capitalization of $570.06 million, a PE ratio of 9.72 and a beta of 0.77. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.10. The firm has a 50-day moving average price of $32.05 and a 200-day moving average price of $37.80. Community Trust Bancorp has a twelve month low of $26.45 and a twelve month high of $47.54.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $1.52 dividend on an annualized basis and a yield of 4.95%. Community Trust Bancorp’s payout ratio is presently 41.76%.

Community Trust Bancorp Company Profile

Community Trust Bancorp, Inc operates as the bank holding company for Community Trust Bank, Inc that provides commercial and personal banking services to small and mid-sized communities. The company accepts time and demand deposits, Keogh plans, and savings certificates, as well as checking and savings, regular, individual retirement, NOW, and money market accounts.

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Earnings History and Estimates for Community Trust Bancorp (NASDAQ:CTBI)

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