Home Financial Markets Could Community Trust Bancorp Inc. (CTBI) grow or shrink after earnings?

Could Community Trust Bancorp Inc. (CTBI) grow or shrink after earnings?

Community Trust Bancorp, Inc. (NASDAQ: CTBI) stock was down -4.60% to $36.92 at the previous close. Additionally, the stock’s performance in the last month is -0.40%, its three-month average gain is 14.09%, and its six-month average increase is 17.17%. Measuring its price volatility, CTBI was found to be 3.41% volatile last week and 3.13 % volatile a month prior.

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Investors appear to be panicked by the overall market sentiment because the Company has not announced any news in the previous 24-hours.

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Latest Development

On January 20, 2021, Community Trust Bancorp, Inc. (NASDAQ: CTBI) announced earnings results for the fourth quarter of 2020.

Earnings Highlights

The quarter’s net interest income of $38.6 million represents a 2.5% increase in interest income over the prior quarter and a 6.2% increase over the fourth quarter of 2019.

For the quarter ended December 31, 2020, credit losses provision decreased $1.5 million from the prior quarter and $0.9 million from the same quarter last year.

As of December 31, 2019, our loan portfolio decreased by $3.7 million, or an annualized 0.4%, during the quarter, but increased $305.8 million, or 9.4%, over the year-ago period.

CTBI saw a decrease in loan charge-offs during the quarter ended December 31, 2020, compared to $0.9 million, or 0.10 percent of average loans. For the fourth quarter of 2019, the Company had charge-offs of $1.5 million, or 0.19 percent of average loans.

On the quarterly and annual level, nonperforming loans fell by 3.3 million dollars and 7.0 million dollars, respectively, from September 30, 2020, and December 31, 2019.

In the quarter and for the year 2020, CTBI’s deposits, including repurchase agreements, increased $110.0 million, an annualized 10.3%, and $739.5 million over the prior year, by 20.4%.

According to the most recent figures, non-interest income for the fourth quarter ended December 31, 2020, was $15.2 million, representing an increase of $0.3 million, or 2.3%.

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Insiders Ownership

Usually, high insider ownership indicates the Company thinks highly of its stock and has confidence in its shares, which supplies it with the incentive to make it a success and maximize shareholder value. Over the past year, insiders at the Company have transacted 48 times, according to data filed with the U.S. Securities and Exchange Commission (SEC). During this time, 40 insider trades amounted to 11,407 shares purchased. Insider shares were sold on 8 occasions for a total of 93,567 shares sold.

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