Community Trust Bancorp Q4 net income rises

Overview

• Regional bank's Q4 net income rose to $27.3 mln, marking a record quarter

• Net interest income for Q4 increased 17.3% yr/yr

• Provision for credit losses decreased from prior quarter but rose yr/yr

Outlook

• Community Trust Bancorp did not provide specific guidance for future quarters or years in its press release

Result Drivers

• NET INTEREST INCOME - Increased 17.3% yr/yr due to higher net interest margins and growth in earning assets

• ASSET QUALITY - Reduction in nonperforming loans and net charge-offs improved asset quality

• LOAN PORTFOLIO GROWTH - Expansion in commercial and residential loans supported revenue growth

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the banks peer group is "buy."

• Wall Street's median 12-month price target for Community Trust Bancorp Inc is $60.50, about 2.6% above its January 20 closing price of $58.98

• The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 10 three months ago

Press Release: ID:nBw1NR5ZKa

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