Community Trust Bancorp Posts $1.43 Q3 EPS
CTBI sits 50% above its 52-week low of $50.25.
Summary
Community Trust Bancorp reported third-quarter EPS of $1.43 and net income of $25.9M, its first quarterly print since record Q2 results in August. Net interest income rose nearly 10% in the quarter, and the provision for credit losses rose, so the key question is whether the nonperforming loan rise flagged in the Q2 10-Q continued to build. That credit trend matters more than the EPS line for a small regional bank trading near $75. The company raised its quarterly dividend 22.6% to $0.65 and paid a $0.06 special dividend in July, so the payout is already set; the earnings detail will show whether that pace is sustainable.
At the time of this announcement, CTBI was trading at $75.30 on NASDAQ in the Finance sector, with a market capitalization of approximately $1.4B. The 52-week trading range was $50.25 to $79.92. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.