Central Bancompany (NASDAQ:CBC) Hits New 12-Month High – Here’s Why

Central Bancompany (NASDAQ:CBC)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $31.95 and last traded at $31.79, with a volume of 1452456 shares changing hands. The stock had previously closed at $31.46.

Analyst Upgrades and Downgrades

CBC has been the topic of a number of analyst reports. Weiss Ratings cut shares of Central Bancompany from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, June 15th. Wall Street Zen raised Central Bancompany from a “sell” rating to a “hold” rating in a report on Saturday, May 30th. Keefe, Bruyette & Woods upped their price objective 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. Zacks Research downgraded Central Bancompany from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 8th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $31.00 price target on shares of Central Bancompany in a research note on Wednesday, April 29th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $30.25.

Central Bancompany Stock Performance

The firm’s 50 day moving average is $28.17. The stock has a market cap of $7.62 billion and a P/E ratio of 34.18.

Central Bancompany (NASDAQ:CBC) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. The business had revenue of $273.70 million during the quarter, compared to analyst estimates of $267.74 million. Equities research analysts expect that Central Bancompany will post 1.93 earnings per share for the current fiscal year.

Central Bancompany Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 22nd were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, May 22nd. Central Bancompany’s dividend payout ratio is 51.61%.

Hedge Funds Weigh In On Central Bancompany

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

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.