NasdaqGS:CTBI

Stock Analysis Report

Community Trust Bancorp

Executive Summary

Community Trust Bancorp, Inc. operates as the bank holding company for Community Trust Bank, Inc.

Snowflake

Fundamentals

Flawless balance sheet established dividend payer.


Similar Companies

Share Price & News

How has Community Trust Bancorp's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

1.8%

CTBI

2.7%

US Banks

0.5%

US Market


1 Year Return

-6.1%

CTBI

2.9%

US Banks

6.8%

US Market

Return vs Industry: CTBI underperformed the US Banks industry which returned 2.9% over the past year.

Return vs Market: CTBI underperformed the US Market which returned 6.8% over the past year.


Shareholder returns

CTBIIndustryMarket
7 Day1.8%2.7%0.5%
30 Day-2.8%1.1%-0.8%
90 Day4.0%2.7%-0.9%
1 Year-2.7%-6.1%5.8%2.9%9.2%6.8%
3 Year27.0%15.8%52.0%41.5%45.6%36.2%
5 Year48.5%26.2%69.2%50.7%63.2%45.4%

Price Volatility Vs. Market

How volatile is Community Trust Bancorp's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Community Trust Bancorp undervalued compared to its fair value and its price relative to the market?

20.7%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: CTBI ($42.65) is trading below our estimate of fair value ($53.78)

Significantly Below Fair Value: CTBI is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: CTBI is good value based on its PE Ratio (11.8x) compared to the Banks industry average (12.5x).

PE vs Market: CTBI is good value based on its PE Ratio (11.8x) compared to the US market (17.7x).


Price to Earnings Growth Ratio

PEG Ratio: CTBI's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: CTBI is overvalued based on its PB Ratio (1.3x) compared to the US Banks industry average (1.2x).


Next Steps

Future Growth

How is Community Trust Bancorp forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

-4.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CTBI's earnings are forecast to decline over the next 3 years (-4.3% per year).

Earnings vs Market: CTBI's earnings are forecast to decline over the next 3 years (-4.3% per year).

High Growth Earnings: CTBI's earnings are forecast to decline over the next 3 years.

Revenue vs Market: CTBI's revenue (3.4% per year) is forecast to grow slower than the US market (7.2% per year).

High Growth Revenue: CTBI's revenue (3.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: CTBI's Return on Equity is forecast to be low in 3 years time (9%).


Next Steps

Past Performance

How has Community Trust Bancorp performed over the past 5 years?

8.4%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: CTBI's earnings have grown by 8.4% per year over the past 5 years.

Accelerating Growth: CTBI's earnings growth over the past year (9.9%) exceeds its 5-year average (8.4% per year).

Earnings vs Industry: CTBI earnings growth over the past year (9.9%) underperformed the Banks industry 29.7%.


Return on Equity

High ROE: CTBI's Return on Equity (10.6%) is considered low.


Return on Assets

ROA vs Industry: CTBI has a higher Return on Assets than the Banks industry average last year.


Return on Capital Employed

ROCE Improving: Insufficient data to calculate CTBI's Return on Capital Employed to determine if it has improved over the past 3 years.


Next Steps

Financial Health

How is Community Trust Bancorp's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: CTBI has a low level of unsold assets or inventory.

Debt Coverage by Assets: CTBI's debt is not covered by short term assets (assets are 0.3x debt).


Financial Institutions Analysis

Asset Level: CTBI's level of assets compared to its equity is low.

Allowance for Bad Loans: CTBI has a sufficient allowance for bad loans.

Low Risk Liabilities: CTBI's liabilities are made up of primarily low risk sources of funding.

Loan Level: CTBI has an acceptable proportion of non-loan assets held.

Low Risk Deposits: CTBI's loans are broadly funded by customer deposits.

Level of Bad Loans: CTBI has an appropriate level of bad loans (0.98%)


Next Steps

Dividend

What is Community Trust Bancorp's current dividend yield, its reliability and sustainability?

3.56%

Current Dividend Yield


Dividend Yield vs Market

company3.6%marketbottom25%1.4%markettop25%3.7%industryaverage3.0%forecastin3Years3.6%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: CTBI's dividend (3.56%) is higher than the bottom 25% of dividend payers in the US market (1.45%).

High Dividend: CTBI's dividend (3.56%) is low compared to the top 25% of dividend payers in the US market (3.73%).

Stable Dividend: CTBI's dividends per share have been stable in the past 10 years.

Growing Dividend: CTBI's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (40.3%), CTBI's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: CTBI's dividends in 3 years are forecast to be well covered by earnings (48.3% payout ratio).


Next Steps

Management

What is the CEO of Community Trust Bancorp's salary, the management and board of directors tenure and is there insider trading?

17.8yrs

Average management tenure


CEO

Jean Hale (72yo)

20.3yrs

Tenure

US$1,208,129

Compensation

Ms. Jean R. Hale has been appointed Director of Community Trust Bancorp Inc. since 1993 and Chairman since 2004. Ms. Hale has been employed by Community Trust Bancorp Inc. since 1969 and held various posit ...


CEO Compensation Analysis

Compensation vs. Market: Jean's total compensation ($USD1.21M) is about average for companies of similar size in the US market ($USD2.70M).

Compensation vs Earnings: Jean's compensation has been consistent with company performance over the past year.


Management Age and Tenure

17.8yrs

Average Tenure

61yo

Average Age

Experienced Management: CTBI's management team is seasoned and experienced (17.8 years average tenure).


Board Age and Tenure

14.7yrs

Average Tenure

69yo

Average Age

Experienced Board: CTBI's board of directors are seasoned and experienced ( 14.7 years average tenure).


Insider Trading

Insider Buying: CTBI insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyUS$39,33015 Aug 19
Franky Minnifield
EntityIndividual
Role
Unit Board Member
Director of Community Trust Bank
Shares1,000
Max PriceUS$39.33
SellUS$11,53130 Jul 19
Andy Waters
EntityIndividual
Role
Unit Board Member
Executive Vice President
Shares274
Max PriceUS$42.08
BuyUS$66,78613 Dec 18
Franky Minnifield
EntityIndividual
Role
Unit Board Member
Director of Community Trust Bank
Shares1,600
Max PriceUS$42.38

Ownership Breakdown


Management Team

  • Jean Hale (72yo)

    Chairman

    • Tenure: 20.3yrs
    • Compensation: US$1.21m
  • Mark Gooch (60yo)

    Executive VP & Secretary

    • Tenure: 0yrs
    • Compensation: US$781.18k
  • Jim Gartner (77yo)

    Executive Vice President

    • Tenure: 17.8yrs
  • Jim Draughn (59yo)

    Executive Vice President

    • Tenure: 18.8yrs
    • Compensation: US$449.02k
  • Larry Jones (72yo)

    Executive Vice President

    • Tenure: 17.1yrs
    • Compensation: US$448.37k
  • Richard Newsom (64yo)

    Executive Vice President

    • Tenure: 17.8yrs
  • Ricky Sparkman (56yo)

    Executive Vice President

    • Tenure: 17.8yrs
  • Kevin Stumbo (59yo)

    Executive VP

    • Tenure: 0yrs
    • Compensation: US$441.56k
  • Steve Jameson (62yo)

    Executive Vice President

    • Tenure: 15.8yrs
  • David Jones (56yo)

    Executive Vice President

    • Tenure: 9.8yrs

Board Members

  • Jean Hale (72yo)

    Chairman

    • Tenure: 20.3yrs
    • Compensation: US$1.21m
  • Mark Gooch (60yo)

    Executive VP & Secretary

    • Tenure: 0yrs
    • Compensation: US$781.18k
  • Charles Baird (69yo)

    Director

    • Tenure: 32.8yrs
    • Compensation: US$36.30k
  • M. Parrish (69yo)

    Lead Independent Director

    • Tenure: 0yrs
    • Compensation: US$39.40k
  • Nick Carter (73yo)

    Independent Director

    • Tenure: 10.8yrs
    • Compensation: US$45.60k
  • James McGhee (61yo)

    Independent Director

    • Tenure: 14.6yrs
    • Compensation: US$43.80k
  • Andy Waters (53yo)

    Executive Vice President

    • Tenure: 0yrs
  • Franky Minnifield

    Director of Community Trust Bank

    • Tenure: 0yrs
  • David Collins

    Director of Community Trust Bank

    • Tenure: 0yrs
  • E. Lowman

    Director of Community Trust & Investment Company

    • Tenure: 0yrs

Company Information

Community Trust Bancorp, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Community Trust Bancorp, Inc.
  • Ticker: CTBI
  • Exchange: NasdaqGS
  • Founded: 1903
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$758.112m
  • Shares outstanding: 17.78m
  • Website: https://www.ctbi.com

Number of Employees


Location

  • Community Trust Bancorp, Inc.
  • 346 North Mayo Trail
  • Pikeville
  • Kentucky
  • 41501
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CTBINasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDDec 1987

Biography

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 acce ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/20 23:34
End of Day Share Price2019/10/18 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.