Central Bancompany (NASDAQ:CBC) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen cut shares of Central Bancompany (NASDAQ:CBC) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

Several other research analysts have also recently weighed in on the company. Keefe, Bruyette & Woods raised their target price on Central Bancompany from $27.50 to $28.00 and gave the company a “market perform” rating in a research note on Wednesday, April 29th. Weiss Ratings cut Central Bancompany from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, April 27th. Piper Sandler reaffirmed an “overweight” rating and set a $31.00 target price on shares of Central Bancompany in a research note on Wednesday, April 29th. Morgan Stanley decreased their target price on Central Bancompany from $31.00 to $29.00 and set an “overweight” rating for the company in a research note on Tuesday, March 31st. Finally, Zacks Research cut Central Bancompany from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 8th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $29.50.

Central Bancompany Stock Down 1.0%

Shares of CBC stock opened at $26.60 on Friday. The company’s 50-day moving average price is $25.08. Central Bancompany has a fifty-two week low of $21.99 and a fifty-two week high of $27.81.

Central Bancompany (NASDAQ:CBC) last announced its earnings results on Tuesday, April 28th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.02. The firm had revenue of $273.71 million for the quarter, compared to the consensus estimate of $267.74 million. As a group, sell-side analysts predict that Central Bancompany will post 1.93 EPS for the current fiscal year.

Central Bancompany Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 22nd will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, May 22nd.

Institutional Investors Weigh In On Central Bancompany

Several hedge funds have recently modified their holdings of the stock. Quantinno Capital Management LP purchased a new stake in Central Bancompany in the 1st quarter worth about $1,942,000. North Reef Capital Management LP lifted its stake in Central Bancompany by 210.9% in the 1st quarter. North Reef Capital Management LP now owns 4,075,000 shares of the company’s stock worth $97,596,000 after acquiring an additional 2,764,327 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Central Bancompany in the 1st quarter worth about $137,000. Arrowstreet Capital Limited Partnership purchased a new stake in Central Bancompany in the 1st quarter worth about $359,000. Finally, Sei Investments Co. purchased a new stake in Central Bancompany in the 1st quarter worth about $1,219,000.

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.