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

Central Bancompany (NASDAQ:CBC)’s stock price reached a new 52-week high on Wednesday. The stock traded as high as $34.00 and last traded at $33.4320, with a volume of 44,725 shares changing hands. The stock had previously closed at $33.55.

Analyst Upgrades and Downgrades

CBC has been the topic of a number of research analyst reports. Wall Street Zen downgraded shares of Central Bancompany from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Weiss Ratings lowered shares of Central Bancompany from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Piper Sandler raised their target price on shares of Central Bancompany from $31.00 to $37.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. Stephens reaffirmed an “equal weight” rating and set a $35.00 target price (up from $34.00) on shares of Central Bancompany in a research note on Wednesday, August 5th. Finally, Morgan Stanley cut shares of Central Bancompany from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $35.00 to $36.00 in a research report on Tuesday, September 8th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $35.00.

Central Bancompany Stock Up 3.3%

The stock’s fifty day simple moving average is $32.28 and its two-hundred day simple moving average is $30.15.

Central Bancompany (NASDAQ:CBC) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). The firm had revenue of $281.72 million during the quarter. As a group, equities analysts expect that Central Bancompany will post 1.91 EPS for the current year.

Central Bancompany Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 21st were paid a dividend of $0.12 per share. The ex-dividend date was Friday, August 21st. This represents a $0.48 dividend on an annualized basis and a yield of 1.4%. Central Bancompany’s payout ratio is presently 34.29%.

Institutional Investors Weigh In On Central Bancompany

Several hedge funds have recently added to or reduced their stakes in the stock. North Reef Capital Management LP grew its stake 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 acquiring an additional 2,764,327 shares during the last quarter. Bank of America Corp DE raised its position in shares of Central Bancompany by 3,292.1% in the 1st quarter. Bank of America Corp DE now owns 128,220 shares of the company’s stock worth $3,071,000 after purchasing an additional 124,440 shares during the last quarter. Quantinno Capital Management LP bought a new position in Central Bancompany in the 1st quarter worth about $1,942,000. Sei Investments Co. bought a new position in Central Bancompany in the 1st quarter worth about $1,219,000. Finally, Bank of New York Mellon Corp purchased a new stake in Central Bancompany during the 2nd quarter valued at about $1,243,000.

About Central Bancompany

Central Bancompany, Inc is a bank holding company headquartered in Jefferson City, Missouri. Through its banking subsidiaries, the company provides financial services to individuals, businesses and institutions, with a focus on community banking and relationship-based service.

Its offerings generally include personal and business deposit accounts, consumer and commercial lending, residential mortgages, treasury management, online and mobile banking, and other traditional banking services.