Central Bancompany (NASDAQ:CBC) Rating Lowered to "Neutral" at Bank of America

Key Points

• Bank of America downgraded Central Bancompany from “buy” to “neutral” and set a $36.50 price target, implying about 1% downside from the prior close.
• Analyst sentiment is mixed but leans neutral: MarketBeat reports a consensus “Hold” rating and an average price target of $35.90.
• Central Bancompany reported quarterly EPS of $0.48, slightly below the $0.49 consensus estimate; quarterly revenue was $285.43 million.

Central Bancompany (NASDAQ:CBC - Get Free Report) was downgraded by investment analysts at Bank of America from a "buy" rating to a "neutral" rating in a research note issued to investors on Wednesday, MarketBeat.com reports. They currently have a $36.50 price objective on the stock. Bank of America's price objective points to a potential downside of 0.95% from the stock's previous close.

Other equities research analysts have also issued research reports about the company. Weiss Ratings raised Central Bancompany from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, October 23rd. Keefe, Bruyette & Woods raised their price target on Central Bancompany from $29.00 to $32.00 and gave the stock a "market perform" rating in a research report on Wednesday, August 5th. Stephens cut Central Bancompany from an "overweight" rating to an "equal weight" rating and lifted their price target for the stock from $34.00 to $35.00 in a research note on Wednesday, August 5th. Morgan Stanley lowered Central Bancompany from an "overweight" rating to an "equal weight" rating and increased their price objective for the company from $35.00 to $36.00 in a research note on Tuesday, September 8th. Finally, Wall Street Zen downgraded shares of Central Bancompany from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $35.90.

Central Bancompany Price Performance

Shares of NASDAQ:CBC opened at $36.85 on Wednesday. The stock has a market cap of $8.83 billion and a PE ratio of 19.60. The company's fifty day moving average is $32.81 and its 200 day moving average is $28.77. Central Bancompany has a 52 week low of $21.99 and a 52 week high of $37.41.

Central Bancompany (NASDAQ:CBC - Get Free Report) last posted its quarterly earnings results on Tuesday, October 27th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.01). Central Bancompany had a return on equity of 11.74% and a net margin of 34.30%. The business had revenue of $285.43 million during the quarter. Sell-side analysts anticipate that Central Bancompany will post 1.90 EPS for the current year.

Institutional Investors Weigh In On Central Bancompany

Several institutional investors and hedge funds have recently bought and sold shares of CBC. North Reef Capital Management LP boosted its holdings in Central Bancompany by 210.9% in the first 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 in the last quarter. Bank of America Corp DE raised its holdings in 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 worth $3,071,000 after purchasing an additional 124,440 shares in the last quarter. Quantinno Capital Management LP bought a new position in Central Bancompany in the 1st quarter worth $1,942,000. Sei Investments Co. purchased a new stake in shares of Central Bancompany in the 1st quarter worth about $1,219,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Central Bancompany in the 2nd quarter worth about $1,243,000.

About Central Bancompany

Central Bancompany, Inc is a bank holding company headquartered in Jefferson City, Missouri. Through its banking subsidiaries, the company provides financial services to individuals, businesses and institutions, with a focus on community banking and relationship-based service.

Its offerings generally include personal and business deposit accounts, consumer and commercial lending, residential mortgages, treasury management, online and mobile banking, and other traditional banking services.

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