North Reef Capital Management LP Grows Position in Central Bancompany $CBC

North Reef Capital Management LP grew its position in shares of Central Bancompany (NASDAQ:CBC) by 210.9% in the first quarter, HoldingsChannel reports. The fund owned 4,075,000 shares of the company’s stock after acquiring an additional 2,764,327 shares during the period. Central Bancompany makes up 3.4% of North Reef Capital Management LP’s portfolio, making the stock its 9th largest position. North Reef Capital Management LP’s holdings in Central Bancompany were worth $97,596,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Prime Capital Investment Advisors LLC bought a new position in Central Bancompany in the fourth quarter valued at $2,991,000. CENTRAL TRUST Co bought a new stake in Central Bancompany during the 4th quarter worth about $176,998,000. Massachusetts Financial Services Co. MA acquired a new position in shares of Central Bancompany during the 4th quarter worth about $31,779,000. Delta Investment Management LLC bought a new position in shares of Central Bancompany in the 4th quarter valued at about $3,097,000. Finally, Atwood & Palmer Inc. acquired a new stake in shares of Central Bancompany in the fourth quarter valued at about $7,117,000.

Central Bancompany Trading Up 1.0%

Shares of NASDAQ CBC opened at $32.04 on Friday. The company has a market capitalization of $7.68 billion and a P/E ratio of 34.45. Central Bancompany has a 12 month low of $21.99 and a 12 month high of $32.31. The stock has a 50 day moving average of $29.57 and a 200-day moving average of $26.42.

Central Bancompany (NASDAQ:CBC) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. The business had revenue of $273.70 million during the quarter, compared to the consensus estimate of $267.74 million. 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 was paid on Monday, June 1st. Investors of record on Friday, May 22nd were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $0.48 annualized dividend and a dividend yield of 1.5%. Central Bancompany’s payout ratio is presently 51.61%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Keefe, Bruyette & Woods raised their price target 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 shares of Central Bancompany from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, June 15th. Stephens boosted their target price on shares of Central Bancompany from $28.00 to $30.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Wall Street Zen raised shares of Central Bancompany from a “sell” rating to a “hold” rating in a research report on Saturday, May 30th. Finally, Piper Sandler reissued an “overweight” rating and issued a $31.00 price objective on shares of Central Bancompany in a research report on Wednesday, April 29th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $30.25.

Central Bancompany 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.