Central Bancompany (NASDAQ:CBC) Hits New 12-Month High – Still a Buy?

Central Bancompany (NASDAQ:CBC) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $29.09 and last traded at $28.9310, with a volume of 42120 shares changing hands. The stock had previously closed at $28.59.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CBC shares. Keefe, Bruyette & Woods upped their target price on Central Bancompany from $27.50 to $28.00 and gave the company a “market perform” rating in a research report on Wednesday, April 29th. Stephens upped their target price on Central Bancompany from $28.00 to $30.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. Piper Sandler reissued an “overweight” rating and issued a $31.00 target price on shares of Central Bancompany in a research report on Wednesday, April 29th. Wall Street Zen raised Central Bancompany from a “sell” rating to a “hold” rating in a research report on Saturday, May 30th. Finally, Weiss Ratings raised shares of Central Bancompany from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, June 1st. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Central Bancompany presently has an average rating of “Moderate Buy” and a consensus price target of $29.50.

Central Bancompany Stock Performance

The business’s fifty day simple moving average is $26.73.

Central Bancompany (NASDAQ:CBC) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.44 by $0.02. The business had revenue of $273.71 million during the quarter, compared to analysts’ expectations of $267.74 million. On average, analysts predict that Central Bancompany will post 1.93 EPS for the current fiscal year.

Central Bancompany Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 22nd were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Friday, May 22nd.

Institutional Investors Weigh In On Central Bancompany

Several hedge funds have recently added to or reduced their stakes in CBC. California State Teachers Retirement System purchased a new stake in shares of Central Bancompany during the 1st quarter worth about $26,000. Quarry LP purchased a new stake in shares of Central Bancompany during the 4th quarter worth about $26,000. PNC Financial Services Group Inc. purchased a new stake in shares of Central Bancompany during the 4th quarter worth about $51,000. Arax Advisory Partners purchased a new stake in shares of Central Bancompany during the 4th quarter worth about $55,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Central Bancompany during the 1st quarter worth about $137,000.

About Central Bancompany

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.