Community Trust Bancorp Hits 52-Week High - Analyst Blog
December 02 2013 - 10:00AM
Zacks
Shares of Community Trust Bancorp Inc. (CTBI)
touched a new 52-week high of $46.28 during the first half of the
trading session on Nov 29. However, the stock closed the session at
$45.73, which reflects a year-to-date return of 38.8%. The trading
volume for the session was 14,272 shares.
Despite the strong price appreciation, this Zacks Rank #2 (Buy)
Southeast bank still has considerable upside left, given its
positive estimate revision over the last 60 days and expected
long-term earnings growth of 5.0%.
Growth Drivers
Community Trust Bancorp’s impressive performance was driven by
strong-third quarter 2013 results comprising a positive earnings
surprise of 8.0%. Additionally, the company maintains a robust
capital position in compliance with regulatory requirements.
On Oct 16, Community Trust Bancorp declared third-quarter earnings
of 81 cents per share, which beat the Zacks Consensus Estimate of
75 cents. Better-than-expected results were driven by top-line
growth and lower operating expenses.
Community Trust Bancorp’s total outstanding loans were $2.6
billion, up 2.5% from the prior-year quarter. The increase was
primarily due to improved performances in the commercial loan
portfolio, residential loan portfolio and consumer loan
portfolio.
Community Trust Bancorp continues to disburse regular cash
dividends, which reflect its steady balance sheet position. On Nov
8, the company announced a cash dividend of 32 cents. The dividend
will be paid on Jan 1, 2014 to shareholders of record as of Dec
15.
Estimate Revisions Show Potency
In the last 60 days, the Zacks Consensus Estimate for 2013
increased nearly 2.7% to $3.08 per share. For 2014, the Zacks
Consensus Estimate advanced 2.0% to $3.09 per share over the same
time frame.
Other banks in the same region worth considering include
American National Bankshares Inc. (AMNB),
First NBC Bank Holding Company (NBCB) and
Bank of Kentucky Financial Corp. (BKYF). While
American National Bankshares and First NBC Bank carry a Zacks Rank
#1 (Strong Buy), Bank of Kentucky Financial holds the same Zacks
Rank as Community Trust Bancorp.
AMER NATL BNKSH (AMNB): Free Stock Analysis Report
BANK OF KY FINL (BKYF): Free Stock Analysis Report
COMMUN TRUST BC (CTBI): Free Stock Analysis Report
FIRST NBC BANK (NBCB): Free Stock Analysis Report
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