Central Bancompany (NASDAQ:CBC) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Central Bancompany (NASDAQ:CBC) from a hold rating to a sell rating in a report released on Saturday morning.

CBC has been the topic of several other reports. Piper Sandler increased their price target on Central Bancompany from $31.00 to $37.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Weiss Ratings downgraded Central Bancompany from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, June 15th. Morgan Stanley reiterated an “overweight” rating and issued a $35.00 target price on shares of Central Bancompany in a research note on Wednesday, August 5th. Keefe, Bruyette & Woods boosted their target price on shares of Central Bancompany from $29.00 to $32.00 and gave the company a “market perform” rating in a research note on Wednesday, August 5th. Finally, Stephens restated an “equal weight” rating and issued a $35.00 price target (up from $34.00) on shares of Central Bancompany in a report on Wednesday, August 5th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $34.75.

Central Bancompany Trading Down 1.4%

CBC stock opened at $33.04 on Friday. The stock has a market cap of $7.92 billion and a PE ratio of 35.53. Central Bancompany has a 12 month low of $21.99 and a 12 month high of $33.82. The company has a 50-day moving average price of $30.61 and a 200 day moving average price of $27.13.

Central Bancompany (NASDAQ:CBC) last posted its quarterly earnings data 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 company had revenue of $281.72 million for the quarter. Sell-side analysts forecast that Central Bancompany will post 1.92 EPS for the current year.

Central Bancompany Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 21st will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.5%. The ex-dividend date is Friday, August 21st. Central Bancompany’s dividend payout ratio (DPR) is presently 51.61%.

Hedge Funds Weigh In On Central Bancompany

Several institutional investors have recently made changes to their positions in the company. California State Teachers Retirement System purchased a new stake in Central Bancompany in the first quarter worth about $26,000. Quarry LP purchased a new stake in shares of Central Bancompany in the 4th quarter worth approximately $26,000. PNC Financial Services Group Inc. bought a new position in shares of Central Bancompany during the fourth quarter valued at approximately $51,000. Arax Advisory Partners bought a new position in shares of Central Bancompany during the fourth quarter valued at approximately $55,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Central Bancompany during the first 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.