Madison Avenue Partners LP Invests $23.97 Million in Central Bancompany $CBC

Madison Avenue Partners LP bought a new position in shares of Central Bancompany (NASDAQ:CBC) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 993,879 shares of the company’s stock, valued at approximately $23,972,000. Central Bancompany accounts for approximately 1.0% of Madison Avenue Partners LP’s investment portfolio, making the stock its 18th largest holding.

A number of other large investors also recently made changes to their positions in CBC. Quarry LP bought a new position in shares of Central Bancompany during the fourth quarter worth approximately $26,000. PNC Financial Services Group Inc. acquired a new stake in Central Bancompany during the fourth quarter worth approximately $51,000. Arax Advisory Partners acquired a new stake in Central Bancompany during the fourth quarter worth approximately $55,000. Northwestern Mutual Wealth Management Co. acquired a new stake in Central Bancompany during the fourth quarter worth approximately $210,000. Finally, Summit Financial LLC acquired a new stake in Central Bancompany during the fourth quarter worth approximately $243,000.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Stephens increased their price target on 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 downgraded Central Bancompany from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday. Wall Street Zen raised Central Bancompany from a “sell” rating to a “hold” rating in a research report on Saturday, May 30th. Piper Sandler reissued an “overweight” rating and set a $31.00 price target on shares of Central Bancompany in a research report on Wednesday, April 29th. Finally, Zacks Research downgraded Central Bancompany from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 8th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $29.50.

Central Bancompany Stock Performance

Shares of CBC stock opened at $27.55 on Thursday. The firm has a fifty day simple moving average of $27.03. Central Bancompany has a fifty-two week low of $21.99 and a fifty-two week high of $29.26.

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

Central Bancompany Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 22nd were issued 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 of this dividend was Friday, May 22nd.

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.