Central Bancompany (NASDAQ:CBC) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Central Bancompany (NASDAQ:CBC) from a hold rating to a sell rating in a report issued on Saturday.

Several other equities analysts have also commented on CBC. Keefe, Bruyette & Woods increased their price objective on shares of Central Bancompany from $29.00 to $32.00 and gave the company a “market perform” rating in a research report on Wednesday. Morgan Stanley restated an “overweight” rating and issued a $35.00 target price on shares of Central Bancompany in a report on Wednesday. Stephens reaffirmed an “equal weight” rating and issued a $35.00 price target (up from $34.00) on shares of Central Bancompany in a report on Wednesday. Weiss Ratings lowered Central Bancompany from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, June 15th. Finally, Piper Sandler boosted their price objective on Central Bancompany from $31.00 to $37.00 and gave the stock an “overweight” rating in a research note on Wednesday. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $34.75.

Central Bancompany Price Performance

NASDAQ CBC opened at $33.51 on Friday. Central Bancompany has a 1-year low of $21.99 and a 1-year high of $33.82. The business has a 50 day simple moving average of $30.50 and a two-hundred day simple moving average of $27.05. The stock has a market capitalization of $8.03 billion and a PE ratio of 36.03.

Central Bancompany (NASDAQ:CBC) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.01). The firm had revenue of $281.72 million during the quarter. On average, analysts anticipate that Central Bancompany will post 1.92 EPS for the current fiscal year.

Central Bancompany Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 21st will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $0.48 annualized dividend and a dividend yield of 1.4%. Central Bancompany’s dividend payout ratio is currently 51.61%.

Hedge Funds Weigh In On Central Bancompany

A number of large investors have recently made changes to their positions in CBC. Bank of New York Mellon Corp bought a new position in Central Bancompany during the 2nd quarter valued at about $1,243,000. Keel Point LLC bought a new stake in Central Bancompany in the first quarter worth about $201,000. Bank of America Corp DE boosted its position in shares of Central Bancompany by 3,292.1% during the first quarter. Bank of America Corp DE now owns 128,220 shares of the company’s stock valued at $3,071,000 after buying an additional 124,440 shares during the period. Alexander Labrunerie & CO. Inc. grew its stake in shares of Central Bancompany by 7.1% during the first quarter. Alexander Labrunerie & CO. Inc. now owns 22,633 shares of the company’s stock valued at $542,000 after buying an additional 1,508 shares during the last quarter. Finally, California State Teachers Retirement System bought a new position in shares of Central Bancompany during the first quarter valued at approximately $26,000.

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.