Central Bancompany (NASDAQ:CBC) Sets New 12-Month High on Analyst Upgrade

Central Bancompany (NASDAQ:CBC)’s stock price 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.

Several other research analysts have also recently weighed in on the stock. Weiss Ratings cut shares of Central Bancompany from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, June 15th. Piper Sandler raised their price objective on Central Bancompany from $31.00 to $37.00 and gave the stock an “overweight” rating in a research note on Wednesday. Stephens reissued an “equal weight” rating and set a $35.00 price target (up from $34.00) on shares of Central Bancompany in a report on Wednesday. Zacks Research lowered shares of Central Bancompany from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 8th. Finally, Wall Street Zen upgraded Central Bancompany from a “sell” rating to a “hold” rating in a research report on Saturday, May 30th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Central Bancompany currently has a consensus rating of “Moderate Buy” and an average target price of $34.75.

Hedge Funds Weigh In On Central Bancompany

Hedge funds and other institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System purchased a new position in shares of Central Bancompany in the 1st quarter valued at about $26,000. Quarry LP acquired a new position in Central Bancompany during the fourth quarter worth about $26,000. PNC Financial Services Group Inc. purchased a new stake in shares of Central Bancompany in the fourth quarter valued at approximately $51,000. Arax Advisory Partners purchased a new stake in Central Bancompany in the 4th quarter valued at $55,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in Central Bancompany during the first quarter worth about $137,000.

Central Bancompany Stock Performance

The stock has a market cap of $7.99 billion and a PE ratio of 35.82. The company’s 50-day moving average price is $30.40 and its 200 day moving average price is $27.00.

Central Bancompany (NASDAQ:CBC) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). The firm had revenue of $281.72 million during the quarter. As a group, equities research analysts predict that Central Bancompany will post 1.94 earnings per share for the current fiscal year.

Central Bancompany Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 21st will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Friday, August 21st. Central Bancompany’s dividend payout ratio is 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.