Central Bancompany (NASDAQ:CBC) Reaches New 12-Month High – Should You Buy?

Central Bancompany (NASDAQ:CBC)’s share price hit a new 52-week high on Wednesday . The company traded as high as $29.09 and last traded at $28.9310, with a volume of 42120 shares. The stock had previously closed at $28.59.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Weiss Ratings upgraded Central Bancompany from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, June 1st. Zacks Research cut Central Bancompany from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 8th. Wall Street Zen upgraded Central Bancompany from a “sell” rating to a “hold” rating in a research report on Saturday, May 30th. Piper Sandler restated an “overweight” rating and issued a $31.00 target price on shares of Central Bancompany in a research report on Wednesday, April 29th. Finally, Keefe, Bruyette & Woods raised their target price on Central Bancompany from $27.50 to $28.00 and gave the company a “market perform” rating in a research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $29.50.

Central Bancompany Price Performance

The firm’s 50-day simple moving average is $26.52.

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

Central Bancompany Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 22nd were given a dividend of $0.12 per share. The ex-dividend date was Friday, May 22nd. This represents a $0.48 annualized dividend and a dividend yield of 1.7%.

Institutional Investors Weigh In On Central Bancompany

Large investors have recently modified their holdings of the stock. CENTRAL TRUST Co acquired a new position in shares of Central Bancompany in the 4th quarter worth $176,998,000. North Reef Capital Management LP grew its holdings in shares of Central Bancompany by 210.9% in the 1st 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. Champlain Investment Partners LLC acquired a new position in shares of Central Bancompany in the 4th quarter worth $42,165,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Central Bancompany in the 4th quarter worth $40,790,000. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of Central Bancompany in the 4th quarter worth $31,779,000.

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.