Central Bancompany (NASDAQ:CBC) Hits New 1-Year High – Here’s Why

Central Bancompany (NASDAQ:CBC)’s stock price reached a new 52-week high during trading on Friday . The company traded as high as $32.31 and last traded at $32.2310, with a volume of 76094 shares changing hands. The stock had previously closed at $31.71.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on CBC shares. Weiss Ratings lowered Central Bancompany from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, June 15th. Zacks Research downgraded Central Bancompany from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 8th. Morgan Stanley boosted their price target on Central Bancompany from $29.00 to $32.00 and gave the stock an “overweight” rating in a report on Monday, June 29th. Wall Street Zen raised shares of Central Bancompany from a “sell” rating to a “hold” rating in a report on Saturday, May 30th. Finally, Piper Sandler reiterated an “overweight” rating and set a $31.00 price objective on shares of Central Bancompany in a research report on Wednesday, April 29th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Central Bancompany currently has an average rating of “Moderate Buy” and a consensus target price of $30.25.

Central Bancompany Trading Up 1.0%

The firm has a market cap of $7.68 billion and a P/E ratio of 34.45. The stock has a 50 day simple moving average of $29.57 and a 200-day simple moving average of $26.42.

Central Bancompany (NASDAQ:CBC) last posted its earnings results on Tuesday, April 28th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. The firm had revenue of $273.70 million for the quarter, compared to the consensus estimate of $267.74 million. As a group, equities analysts forecast that Central Bancompany will post 1.94 earnings per share for the current fiscal year.

Central Bancompany Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 22nd were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, May 22nd. Central Bancompany’s dividend payout ratio (DPR) is presently 51.61%.

Institutional Trading of Central Bancompany

Several hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System bought a new position in shares of Central Bancompany in the 1st quarter valued at about $26,000. Quarry LP bought a new stake in Central Bancompany during the fourth quarter worth approximately $26,000. PNC Financial Services Group Inc. purchased a new stake in Central Bancompany during the fourth quarter valued at approximately $51,000. Arax Advisory Partners purchased a new stake in Central Bancompany during the fourth quarter valued at approximately $55,000. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Central Bancompany in the 1st quarter valued at approximately $137,000.

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.