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CTBI - Community Trust Bancorp: Too Cheap To Ignore
Community Trust Bancorp Inc.
Loan growth will likely remain positive this year because of improvement in economic activity and lower PPP forgiveness.
I have revised downward my non-interest income estimates as the Federal Reserve is now projecting a steeper rise in interest rates. Higher rates will hurt mortgage banking income.
Positive loan growth will result in provision normalization this year.
The December 2022 target price suggests a high upside from the current market price. Further, CTBI is offering a decent dividend yield for a bank holding company.