Central Bancompany (NASDAQ:CBC) Hits New 52-Week High – Here’s Why

Central Bancompany (NASDAQ:CBC) shares hit a new 52-week high during trading on Monday. The company traded as high as $38.77 and last traded at $38.5810, with a volume of 909,059 shares traded. The stock had previously closed at $37.75.

Analyst Ratings Changes

CBC has been the topic of several research analyst reports. Weiss Ratings upgraded Central Bancompany from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, October 23rd. Stephens cut Central Bancompany from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $34.00 to $35.00 in a report on Wednesday, August 5th. Piper Sandler boosted their price target on shares of Central Bancompany from $37.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, October 28th. Wall Street Zen lowered shares of Central Bancompany from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Finally, Keefe, Bruyette & Woods raised their target price on Central Bancompany from $29.00 to $32.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 5th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $35.90.

Central Bancompany Stock Down 0.4%

The company has a market cap of $9.20 billion and a PE ratio of 20.44. The business’s 50 day moving average price is $33.37 and its 200-day moving average price is $29.11.

Central Bancompany (NASDAQ:CBC) last posted its quarterly earnings data on Tuesday, October 27th. The company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). Central Bancompany had a net margin of 34.30% and a return on equity of 11.74%. The firm had revenue of $285.43 million during the quarter. Equities analysts expect that Central Bancompany will post 1.90 earnings per share for the current year.

Central Bancompany Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 20th will be issued a $0.14 dividend. This is a positive change from Central Bancompany’s previous quarterly dividend of $0.12. The ex-dividend date is Friday, November 20th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.5%. Central Bancompany’s dividend payout ratio (DPR) is presently 25.53%.

Institutional Trading of Central Bancompany

Several institutional investors have recently added to or reduced their stakes in CBC. Composition Wealth LLC raised its holdings in shares of Central Bancompany by 66.0% during the third quarter. Composition Wealth LLC now owns 44,652 shares of the company’s stock valued at $1,395,000 after buying an additional 17,754 shares during the last quarter. Royce & Associates LP raised its holdings in Central Bancompany by 12.9% during the third quarter. Royce & Associates LP now owns 580,677 shares of the company’s stock worth $18,146,000 after purchasing an additional 66,565 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Central Bancompany by 45.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 59,391 shares of the company’s stock valued at $1,856,000 after purchasing an additional 18,515 shares in the last quarter. CENTRAL TRUST Co boosted its stake in Central Bancompany by 0.6% during the 3rd quarter. CENTRAL TRUST Co now owns 7,599,224 shares of the company’s stock valued at $237,476,000 after purchasing an additional 48,141 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its position in shares of Central Bancompany by 14.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 12,367 shares of the company’s stock valued at $386,000 after purchasing an additional 1,531 shares during the period.

About Central Bancompany

Central Bancompany is a bank holding company headquartered in Jefferson City, Missouri. Through its banking subsidiaries, it provides personal and business banking services, including deposit accounts, consumer and commercial lending, mortgage services, and digital banking. The company also offers services such as treasury management and wealth management to individuals, businesses, and institutions. Its banking operations are centered in Missouri, with a presence in other Midwestern and neighboring states.