Central Bancompany (NASDAQ:CBC) Given New $29.00 Price Target at Morgan Stanley

Central Bancompany (NASDAQ:CBC) had its price target dropped by investment analysts at Morgan Stanley from $31.00 to $29.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price target points to a potential upside of 20.98% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. Piper Sandler lifted their price target on Central Bancompany from $28.00 to $30.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 28th. Zacks Research upgraded Central Bancompany from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 16th. Stephens began coverage on shares of Central Bancompany in a research report on Friday. They set an “overweight” rating and a $28.00 price target on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Central Bancompany in a report on Wednesday, March 25th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Central Bancompany from $26.00 to $27.50 and gave the company a “market perform” rating in a report on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $28.63.

Central Bancompany Price Performance

CBC stock traded up $0.29 during midday trading on Tuesday, reaching $23.97. The company had a trading volume of 371,668 shares, compared to its average volume of 403,882. The company’s 50-day moving average is $24.26. Central Bancompany has a 1 year low of $21.99 and a 1 year high of $25.50.

Central Bancompany (NASDAQ:CBC) last posted its quarterly earnings data on Tuesday, January 27th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. The company had revenue of $272.23 million for the quarter, compared to the consensus estimate of $265.55 million.

Insider Buying and Selling

In other news, CEO John Thomas Ross acquired 40,000 shares of the firm’s stock in a transaction on Friday, February 6th. The shares were purchased at an average price of $24.50 per share, for a total transaction of $980,000.00. Following the completion of the transaction, the chief executive officer owned 82,000 shares of the company’s stock, valued at $2,009,000. The trade was a 95.24% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Central Bancompany in the 4th quarter worth approximately $210,000. Arax Advisory Partners bought a new stake in Central Bancompany in the fourth quarter valued at $55,000. PNC Financial Services Group Inc. purchased a new position in Central Bancompany during the 4th quarter valued at $51,000. Quarry LP bought a new position in Central Bancompany in the 4th quarter worth $26,000. Finally, Madison Avenue Partners LP purchased a new stake in shares of Central Bancompany in the 4th quarter worth about $23,972,000.

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.