Central Bancompany (NASDAQ:CBC) Hits New 1-Year High – Should You Buy?

Shares of Central Bancompany (NASDAQ:CBC) hit a new 52-week high during trading on Wednesday . The company traded as high as $29.28 and last traded at $29.28, with a volume of 18429 shares changing hands. The stock had previously closed at $28.98.

Analysts Set New Price Targets

Several research firms recently commented on CBC. Keefe, Bruyette & Woods boosted their price objective on shares of Central Bancompany from $27.50 to $28.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 29th. Piper Sandler reiterated an “overweight” rating and set a $31.00 target price on shares of Central Bancompany in a report on Wednesday, April 29th. Weiss Ratings cut Central Bancompany from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, June 15th. Morgan Stanley cut their price target on Central Bancompany from $31.00 to $29.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 31st. Finally, Stephens raised their price objective on Central Bancompany from $28.00 to $30.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Central Bancompany currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.50.

Central Bancompany Trading Up 1.9%

The stock’s 50 day moving average price is $27.33.

Central Bancompany (NASDAQ:CBC) last released its quarterly earnings results on Tuesday, April 28th. The company reported $0.46 earnings per share for the quarter, beating 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. Equities analysts forecast that Central Bancompany will post 1.93 earnings per share for the current year.

Central Bancompany Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 22nd were issued a $0.12 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $0.48 dividend on an annualized basis and a yield of 1.6%.

Institutional Investors Weigh In On Central Bancompany

A number of large investors have recently made changes to their positions in CBC. CENTRAL TRUST Co purchased a new stake in shares of Central Bancompany during the 4th quarter valued at about $176,998,000. North Reef Capital Management LP boosted its holdings in shares of Central Bancompany by 210.9% in the first quarter. North Reef Capital Management LP now owns 4,075,000 shares of the company’s stock worth $97,596,000 after buying an additional 2,764,327 shares during the last quarter. Champlain Investment Partners LLC bought a new stake in Central Bancompany during the fourth quarter valued at approximately $42,165,000. Price T Rowe Associates Inc. MD purchased a new stake in Central Bancompany during the fourth quarter valued at approximately $40,790,000. Finally, Massachusetts Financial Services Co. MA purchased a new stake in Central Bancompany during the fourth quarter valued at approximately $31,779,000.

About Central Bancompany

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.