Community Trust Bancorp, Inc. (CTBI)
Financial Services · NMS · US
Fundamentals
Valuation and ratings
Community Trust Bancorp, Inc. trades at USD74.93, which is 126% below the USD169.36 our discounted cash flow model puts on the business. On that measure alone it screens as undervalued, though a DCF is an argument rather than a measurement, and the market is frequently right about why something is cheap.
Our moat model scores it 44 out of 100, which is little in the way of a moat. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 12.6 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
About Community Trust Bancorp, Inc.
Community Trust Bancorp, Inc. operates as the bank holding company for Community Trust Bank, Inc. that provides various commercial and personal banking, and trust and wealth management services. The company accepts time and demand deposits, checking accounts, regular and term savings accounts and savings certificates, individual retirement accounts and Keogh plans, and money market accounts. Its loan portfolio includes commercial, construction, mortgage, and personal loans; lease-financing, lines of credit, revolving lines of credit, and term loans, as well as other specialized loans, including asset-based financing; residential and commercial real estate loans; consumer loans; hotel/motel loans; and other commercial loans. The company also provides cash management, renting safe deposit boxes, and funds transfer services; issues letters of credit; and acts as a trustee of personal trusts, executor of estates, trustee for employee benefit trusts, and paying agent for bond and stock issues, as well as an investment agent and depositor for securities and undertakes repurchase agreements. In addition, it offers securities brokerage services; debit cards; annuity and life insurance products; and repurchase agreements. The company serves small and mid-sized communities in eastern, northeastern, central, and south-central Kentucky, southern West Virginia, and northeastern Tennessee. Community Trust Bancorp, Inc. was founded in 1903 and is headquartered in Pikeville, Kentucky.
CTBI passes 6 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Super investor ownership
7 of the funds we track reported a position in their latest SEC 13F filing. Largest first:
- Two Sigma, TWO SIGMA INVESTMENTS, LP$8.98M · 0.0% of book
- Renaissance Technologies, RENAISSANCE TECHNOLOGIES LLC$8.07M · 0.0% of book
- Cliff Asness, AQR CAPITAL MANAGEMENT LLC$7.07M · 0.0% of book
- Arrowstreet Capital, ARROWSTREET CAPITAL, LIMITED PARTNERSHIP$4.26M · 0.0% of book
- Israel Englander, MILLENNIUM MANAGEMENT LLC$2.80M · 0.0% of book
A word of warning on reading these figures: a 13F reports the market value of a holding, so a fund that traded nothing at all still appears to have sold when the price fell. We found 102 companies where the standard reading gives the opposite answer. Only the share count is honest.
Common questions
Is Community Trust Bancorp, Inc. (CTBI) undervalued?
Against our discounted cash flow estimate of USD169.36, CTBI at USD74.93 is 126% below fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
Which funds own CTBI?
7 of the institutions we track reported a position in CTBI in their most recent SEC 13F filing. A 13F is filed up to 45 days after quarter end, so it tells you what a fund held then, not what it holds now.
What is CTBI's P/E ratio?
CTBI trades at 12.6 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
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Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.