Morgan Stanley Cuts Central Bancompany (NASDAQ:CBC) Price Target to $29.00

Central Bancompany (NASDAQ:CBC) had its target price trimmed by Morgan Stanley from $31.00 to $29.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

CBC has been the topic of a number of other research reports. Weiss Ratings restated a “buy (b-)” rating on shares of Central Bancompany in a research report on Wednesday, March 25th. Keefe, Bruyette & Woods boosted their price target on Central Bancompany from $26.00 to $27.50 and gave the company a “market perform” rating in a research note on Wednesday, January 28th. Zacks Research upgraded Central Bancompany from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 16th. Piper Sandler lifted their price objective on Central Bancompany from $28.00 to $30.00 and gave the company an “overweight” rating in a report on Wednesday, January 28th. Finally, Stephens started coverage on Central Bancompany in a research report on Friday, March 27th. They set an “overweight” rating and a $28.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $28.63.

Central Bancompany Trading Down 1.9%

CBC stock opened at $24.09 on Tuesday. Central Bancompany has a fifty-two week low of $21.99 and a fifty-two week high of $25.50. The stock’s fifty day moving average price is $24.24.

Central Bancompany (NASDAQ:CBC) last released its quarterly earnings results on Tuesday, January 27th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.46 by $0.01. The business had revenue of $272.23 million during the quarter, compared to analyst estimates of $265.55 million.

Central Bancompany Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Friday, February 20th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Friday, February 20th.

Insider Activity

In related news, CEO John Thomas Ross purchased 40,000 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The shares were bought at an average cost of $24.50 per share, with a total value of $980,000.00. Following the acquisition, the chief executive officer owned 82,000 shares of the company’s stock, valued at $2,009,000. This trade represents a 95.24% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Institutional Investors Weigh In On Central Bancompany

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP bought a new stake in Central Bancompany during the 4th quarter worth approximately $26,000. PNC Financial Services Group Inc. bought a new stake in Central Bancompany in the fourth quarter worth approximately $51,000. Arax Advisory Partners bought a new stake in shares of Central Bancompany in the 4th quarter valued at $55,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Central Bancompany during the fourth quarter valued at about $210,000. Finally, Summit Financial LLC acquired a new position in Central Bancompany during the 4th quarter worth approximately $243,000.

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.