Central Bancompany (NASDAQ:CBC) Hits New 12-Month High – Here’s Why

Central Bancompany (NASDAQ:CBC)’s stock price hit a new 52-week high on Tuesday . The company traded as high as $28.83 and last traded at $28.83, with a volume of 3369 shares trading hands. The stock had previously closed at $28.53.

Analyst Upgrades and Downgrades

CBC has been the topic of several research analyst reports. Zacks Research downgraded shares of Central Bancompany from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 8th. Stephens raised 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. Morgan Stanley dropped their target price on shares of Central Bancompany from $31.00 to $29.00 and set an “overweight” rating on the stock in a report on Tuesday, March 31st. Wall Street Zen downgraded shares of Central Bancompany from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Finally, Piper Sandler restated an “overweight” rating and set a $31.00 target price on shares of Central Bancompany in a report on Wednesday, April 29th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Central Bancompany currently has an average rating of “Moderate Buy” and an average target price of $29.50.

Central Bancompany Stock Performance

The company’s fifty day moving average is $25.54.

Central Bancompany (NASDAQ:CBC) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. The business had revenue of $273.71 million during the quarter, compared to analyst estimates of $267.74 million. On average, equities research analysts expect that Central Bancompany will post 1.93 EPS for the current fiscal year.

Central Bancompany Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 22nd will be issued a $0.12 dividend. The ex-dividend date is Friday, May 22nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.7%.

Hedge Funds Weigh In On Central Bancompany

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE grew its stake in shares of Central Bancompany by 3,292.1% in the first quarter. Bank of America Corp DE now owns 128,220 shares of the company’s stock valued at $3,071,000 after buying an additional 124,440 shares in the last quarter. Alexander Labrunerie & CO. Inc. increased its stake in shares of Central Bancompany by 7.1% during the 1st quarter. Alexander Labrunerie & CO. Inc. now owns 22,633 shares of the company’s stock worth $542,000 after purchasing an additional 1,508 shares during the last quarter. California State Teachers Retirement System bought a new stake in shares of Central Bancompany in the 1st quarter valued at about $26,000. Quantinno Capital Management LP acquired a new stake in Central Bancompany in the 1st quarter valued at about $1,942,000. Finally, North Reef Capital Management LP grew its holdings in Central Bancompany by 210.9% during the first quarter. North Reef Capital Management LP now owns 4,075,000 shares of the company’s stock worth $97,596,000 after purchasing an additional 2,764,327 shares during the period.

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.