Central Bancompany (NASDAQ:CBC) Reaches New 52-Week High – Here’s Why

Central Bancompany (NASDAQ:CBC)’s share price hit a new 52-week high on Monday . The stock traded as high as $27.35 and last traded at $27.3390, with a volume of 556099 shares trading hands. The stock had previously closed at $27.09.

Analyst Ratings Changes

CBC has been the subject of several research reports. Stephens lifted their target price on Central Bancompany from $28.00 to $30.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. Piper Sandler reiterated an “overweight” rating and set a $31.00 target price on shares of Central Bancompany in a research note on Wednesday, April 29th. Morgan Stanley reduced their price target on shares of Central Bancompany from $31.00 to $29.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 31st. Zacks Research downgraded shares of Central Bancompany from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 8th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Central Bancompany from $27.50 to $28.00 and gave the stock a “market perform” rating in a report on Wednesday, April 29th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $29.50.

Central Bancompany Stock Up 1.4%

The business’s 50 day simple moving average is $24.63.

Central Bancompany (NASDAQ:CBC) last released its quarterly earnings results on Tuesday, April 28th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.44 by $0.02. The firm had revenue of $273.70 million for the quarter, compared to the consensus estimate of $267.74 million. On average, sell-side analysts expect that Central Bancompany will post 1.93 EPS for the current fiscal year.

Insider Activity at Central Bancompany

In other Central Bancompany news, CEO John Thomas Ross purchased 40,000 shares of the business’s stock in a transaction dated Friday, February 6th. The shares were bought at an average price of $24.50 per share, with a total value of $980,000.00. Following the completion of the acquisition, the chief executive officer owned 82,000 shares in the company, valued at approximately $2,009,000. This represents a 95.24% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 65.90% of the company’s stock.

Institutional Trading of Central Bancompany

Hedge funds have recently added to or reduced their stakes in the business. Prime Capital Investment Advisors LLC bought a new position in shares of Central Bancompany in the fourth quarter worth $2,991,000. Massachusetts Financial Services Co. MA bought a new stake in shares of Central Bancompany during the fourth quarter valued at about $31,779,000. PFG Investments LLC acquired a new stake in Central Bancompany in the fourth quarter worth about $264,000. Penobscot Investment Management Company Inc. acquired a new stake in Central Bancompany in the fourth quarter worth about $4,020,000. Finally, Atwood & Palmer Inc. bought a new position in Central Bancompany in the 4th quarter valued at about $7,117,000.

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.