Central Bancompany (NASDAQ:CBC) Reaches New 12-Month High Following Analyst Upgrade

Central Bancompany (NASDAQ:CBC) reached a new 52-week high during trading on Wednesday after Keefe, Bruyette & Woods raised their price target on the stock from $29.00 to $32.00. Keefe, Bruyette & Woods currently has a market perform rating on the stock. Central Bancompany traded as high as $33.76 and last traded at $33.36, with a volume of 888055 shares. The stock had previously closed at $33.15.

A number of other brokerages also recently issued reports on CBC. Morgan Stanley reaffirmed an “overweight” rating and set a $35.00 price target on shares of Central Bancompany in a report on Wednesday. Stephens reiterated an “equal weight” rating and issued a $35.00 price objective (up from $34.00) on shares of Central Bancompany in a report on Wednesday. Wall Street Zen raised Central Bancompany from a “sell” rating to a “hold” rating in a research report on Saturday, May 30th. Zacks Research cut shares of Central Bancompany from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 8th. Finally, Piper Sandler raised their price target on shares of Central Bancompany from $31.00 to $37.00 and gave the company an “overweight” rating in a report on Wednesday. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $34.75.

Hedge Funds Weigh In On Central Bancompany

Several hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp purchased a new stake in shares of Central Bancompany in the second quarter valued at approximately $1,243,000. Keel Point LLC bought a new position in shares of Central Bancompany in the 1st quarter worth $201,000. Bank of America Corp DE raised its holdings in Central Bancompany by 3,292.1% in the first quarter. Bank of America Corp DE now owns 128,220 shares of the company’s stock worth $3,071,000 after purchasing an additional 124,440 shares in the last quarter. Alexander Labrunerie & CO. Inc. lifted its position in Central Bancompany by 7.1% during the first quarter. Alexander Labrunerie & CO. Inc. now owns 22,633 shares of the company’s stock valued at $542,000 after acquiring an additional 1,508 shares during the last quarter. Finally, California State Teachers Retirement System acquired a new stake in shares of Central Bancompany in the 1st quarter worth $26,000.

Central Bancompany Price Performance

The company’s fifty day moving average price is $30.40 and its 200-day moving average price is $27.00. The stock has a market cap of $7.99 billion and a price-to-earnings ratio of 35.82.

Central Bancompany (NASDAQ:CBC) last issued its earnings results on Tuesday, August 4th. The company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.01). The company had revenue of $281.72 million for the quarter. On average, sell-side analysts forecast that Central Bancompany will post 1.94 earnings per share for the current fiscal year.

Central Bancompany Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 21st will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, August 21st. Central Bancompany’s dividend payout ratio (DPR) is 51.61%.

Central Bancompany Company Profile

Central Bancompany (NASDAQ: CBC) is a bank holding company that provides a range of banking and financial services through its subsidiary banks and nonbank affiliates. Headquartered in Jefferson City, Missouri, the company offers traditional deposit and lending products to individuals and businesses, including checking and savings accounts, certificates of deposit, consumer and commercial loans, and mortgage origination and servicing. Its operations emphasize relationship banking for local and regional customers.

In addition to core banking activities, Central Bancompany offers treasury and cash management services, online and mobile banking, and wealth management and trust services designed to support personal and business financial planning.