Central Bancompany (NASDAQ:CBC) Sets New 52-Week High – Here’s What Happened

Central Bancompany (NASDAQ:CBC)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $28.83 and last traded at $28.83, with a volume of 3369 shares traded. The stock had previously closed at $28.53.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Piper Sandler reiterated an “overweight” rating and set a $31.00 target price on shares of Central Bancompany in a research report on Wednesday, April 29th. Stephens increased their target price on shares of Central Bancompany from $28.00 to $30.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. Weiss Ratings upgraded shares of Central Bancompany from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 18th. Morgan Stanley dropped their target price on shares of Central Bancompany from $31.00 to $29.00 and set an “overweight” rating for the company in a research report on Tuesday, March 31st. Finally, Keefe, Bruyette & Woods increased their target price on shares of Central Bancompany from $27.50 to $28.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 29th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Central Bancompany presently has a consensus rating of “Moderate Buy” and an average target price of $29.50.

Central Bancompany Stock Performance

The firm’s 50 day moving average price is $25.54.

Central Bancompany (NASDAQ:CBC) last issued its 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 business had revenue of $273.71 million during the quarter, compared to the consensus estimate of $267.74 million. On average, equities analysts predict that Central Bancompany will post 1.93 earnings per share for the current year.

Central Bancompany Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 22nd will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Friday, May 22nd.

Institutional Trading of Central Bancompany

A number of hedge funds have recently modified their holdings of the company. 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 valued at $3,071,000 after acquiring an additional 124,440 shares during the period. Alexander Labrunerie & CO. Inc. raised its position in shares of Central Bancompany by 7.1% in the 1st quarter. Alexander Labrunerie & CO. Inc. now owns 22,633 shares of the company’s stock valued at $542,000 after acquiring an additional 1,508 shares during the period. California State Teachers Retirement System acquired a new stake in shares of Central Bancompany in the 1st quarter valued at approximately $26,000. Quantinno Capital Management LP acquired a new stake in shares of Central Bancompany in the 1st quarter valued at approximately $1,942,000. Finally, North Reef Capital Management LP raised its position 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 valued at $97,596,000 after acquiring an additional 2,764,327 shares during the period.

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.