Overview

* Community Trust Bancorp ( CTBI ) Q3 net income rises yr/yr

* Net interest income for Q3 rises 17.7% yr/yr

* Provision for credit losses in Q3 increases from prior qtr and year

Outlook

* Community Trust Bancorp ( CTBI ) did not provide specific future guidance

Result Drivers

* NET INTEREST INCOME - Increase driven by higher net interest margin and increased earning assets

* CREDIT LOSS PROVISION - Increase due to changes in loan volume and composition

* NONINTEREST INCOME - Slight decrease from prior quarter due to lower securities gains and loan-related fees

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 EPS $1.33

Q3 Net $23.91

Income mln

Q3 Net $55.55

Interest mln

Income

Q3 $3.90

Credit mln

Loss

Provisio

n

Q3 Net 3.60%

Interest

Margin

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "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 ( CTBI ) is $63.00, about 10.9% above its October 14 closing price of $56.14

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

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)