Central Bancompany (NASDAQ:CBC) Receives Average Recommendation of “Moderate Buy” from Analysts

Central Bancompany (NASDAQ:CBC) has earned an average recommendation of “Moderate Buy” from the six analysts that are currently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $34.75.

CBC has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of Central Bancompany from a “sell” rating to a “hold” rating in a research note on Saturday, May 30th. Keefe, Bruyette & Woods increased their target price on shares of Central Bancompany from $29.00 to $32.00 and gave the stock a “market perform” rating in a research note on Wednesday. Morgan Stanley reissued an “overweight” rating and set a $35.00 price target on shares of Central Bancompany in a report on Wednesday. Stephens restated an “equal weight” rating and issued a $35.00 price target (up from $34.00) on shares of Central Bancompany in a research report on Wednesday. Finally, Piper Sandler upped their price objective on Central Bancompany from $31.00 to $37.00 and gave the company an “overweight” rating in a research note on Wednesday.

Central Bancompany News Roundup

Here are the key news stories impacting Central Bancompany this week:

• Positive Sentiment: Central Bancompany authorized a $100 million share-repurchase program. Opportunistic buybacks could support the stock and improve per-share earnings by reducing the number of shares outstanding. Central Bancompany Reports Second Quarter Results and Authorizes Buyback
• Positive Sentiment: Piper Sandler raised its price target from $31 to $37 and maintained an “overweight” rating, implying additional upside based on the referenced price. Benzinga analyst update
• Positive Sentiment: Stephens increased its price target from $34 to $35 while reaffirming an “equal weight” rating, suggesting modest potential upside. Ticker Report analyst update
• Positive Sentiment: The company declared its regular quarterly dividend of $0.12 per share, payable September 1 to shareholders of record August 21. The dividend represents an annualized payout of approximately $0.48 per share and a yield of about 1.5%. Central Bancompany dividend announcement

Institutional Investors Weigh In On Central Bancompany

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

Central Bancompany Trading Down 0.9%

CBC stock opened at $33.07 on Thursday. The company has a market capitalization of $7.93 billion and a P/E ratio of 35.56. The business has a 50 day simple moving average of $30.30 and a 200-day simple moving average of $26.94. Central Bancompany has a twelve month low of $21.99 and a twelve month high of $33.76.

Central Bancompany (NASDAQ:CBC) last announced its earnings results on Tuesday, August 4th. The company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). The firm had revenue of $281.72 million for the quarter. Research analysts predict that Central Bancompany will post 1.94 EPS for the current fiscal year.

Central Bancompany Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 21st will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.5%. Central Bancompany’s payout ratio is presently 51.61%.

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.