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 Wednesday . The stock traded as high as $29.28 and last traded at $29.28, with a volume of 18429 shares. The stock had previously closed at $28.98.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CBC shares. Stephens upped their price target on shares of Central Bancompany from $28.00 to $30.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. Zacks Research lowered shares of Central Bancompany from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 8th. Weiss Ratings cut shares of Central Bancompany from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, June 15th. Piper Sandler reaffirmed an “overweight” rating and set a $31.00 price objective on shares of Central Bancompany in a research note on Wednesday, April 29th. Finally, Morgan Stanley cut their target price on Central Bancompany from $31.00 to $29.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 31st. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $29.50.

Central Bancompany Stock Up 1.9%

The company’s 50 day moving average is $27.33.

Central Bancompany (NASDAQ:CBC) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. The business had revenue of $273.70 million during the quarter, compared to analysts’ expectations of $267.74 million. As a group, analysts anticipate that Central Bancompany will post 1.93 EPS for the current fiscal year.

Central Bancompany Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 22nd were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.6%.

Hedge Funds Weigh In On Central Bancompany

A number of institutional investors have recently bought and sold shares of CBC. California State Teachers Retirement System purchased a new stake in Central Bancompany in the first quarter worth about $26,000. Quarry LP purchased a new position in shares of Central Bancompany during the 4th quarter worth approximately $26,000. PNC Financial Services Group Inc. bought a new position in shares of Central Bancompany in the 4th quarter worth approximately $51,000. Arax Advisory Partners purchased a new position in shares of Central Bancompany in the 4th quarter valued at approximately $55,000. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Central Bancompany during the first quarter valued at approximately $137,000.

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.