Central Bancompany (NASDAQ:CBC) Reaches New 1-Year High – Here’s Why

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on CBC. Keefe, Bruyette & Woods increased their target price on shares of Central Bancompany from $27.50 to $28.00 and gave the company a “market perform” rating in a report on Wednesday, April 29th. Wall Street Zen upgraded shares of Central Bancompany from a “sell” rating to a “hold” rating in a report on Saturday, May 30th. Weiss Ratings lowered shares of Central Bancompany from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, June 15th. Zacks Research cut shares of Central Bancompany from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 8th. Finally, Morgan Stanley boosted their target price on Central Bancompany from $29.00 to $32.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Central Bancompany presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.25.

Central Bancompany Stock Down 1.9%

The stock has a market capitalization of $7.33 billion and a price-to-earnings ratio of 32.88. The stock has a 50-day simple moving average of $28.40.

Central Bancompany (NASDAQ:CBC) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. The firm had revenue of $273.70 million for the quarter, compared to analysts’ expectations of $267.74 million. On average, analysts anticipate that Central Bancompany will post 1.94 earnings per share for the current year.

Central Bancompany Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders 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 yield of 1.6%. Central Bancompany’s dividend payout ratio is 51.61%.

Institutional Trading of Central Bancompany

Several hedge funds and other institutional investors have recently modified their holdings of the business. CENTRAL TRUST Co purchased a new stake in shares of Central Bancompany during the 4th quarter valued at approximately $176,998,000. North Reef Capital Management LP grew its stake in Central Bancompany by 210.9% in the 1st quarter. North Reef Capital Management LP now owns 4,075,000 shares of the company’s stock valued at $97,596,000 after buying an additional 2,764,327 shares in the last quarter. Champlain Investment Partners LLC bought a new stake in Central Bancompany during the 4th quarter valued at $42,165,000. Price T Rowe Associates Inc. MD bought a new stake in Central Bancompany during the 4th quarter valued at $40,790,000. Finally, Massachusetts Financial Services Co. MA purchased a new stake in shares of Central Bancompany during the fourth quarter worth $31,779,000.

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.