Overview

• US regional bank's Q2 net income and EPS rose yr/yr

• Q2 net interest income and noninterest income both increased from prior year and prior quarter

• Provision for credit losses and nonperforming loans rose, but net loan charge-offs declined yr/yr

Outlook

• Company did not provide specific guidance or outlook for upcoming quarters or the full year in the press release

Result Drivers

• NET INTEREST INCOME - Higher net interest income driven by increased average earning assets and a higher net interest margin

• NONINTEREST INCOME - Growth in noninterest income, mainly from higher deposit-related fees, trust and wealth management income, and securities gains

• LOAN AND DEPOSIT GROWTH - Robust loan and deposit growth supported balance sheet expansion

Company press release: ID:nBw1dsJ75a

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

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

• Wall Street's median 12-month price target for Community Trust Bancorp Inc is $73.00, about 1% above its July 14 closing price of $72.25

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

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