Central Bancompany (NASDAQ:CBC) Stock Price Expected to Rise, Piper Sandler Analyst Says

Key Points

• Piper Sandler raised Central Bancompany’s price target from $37 to $40 and maintained an “overweight” rating, implying 14.25% potential upside from the prior close.
• Analyst sentiment is mixed, with two “Buy” ratings and four “Hold” ratings producing a consensus “Hold” rating and an average price target of $35.75.
• CBC shares rose 0.9% to $35.01, near their 12-month high, while the company’s latest quarterly earnings of $0.48 per share slightly missed the $0.49 consensus estimate.

Central Bancompany (NASDAQ:CBC - Get Free Report) had its price target increased by stock analysts at Piper Sandler from $37.00 to $40.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Piper Sandler's price target indicates a potential upside of 14.25% from the company's previous close.

Other equities analysts have also recently issued reports about the stock. Wall Street Zen cut shares of Central Bancompany from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th. Weiss Ratings raised shares of Central Bancompany from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday. Stephens restated an "equal weight" rating and issued a $35.00 price objective (up from $34.00) on shares of Central Bancompany in a research report on Wednesday, August 5th. Keefe, Bruyette & Woods raised their price objective on Central Bancompany from $29.00 to $32.00 and gave the stock a "market perform" rating in a research note on Wednesday, August 5th. Finally, Morgan Stanley downgraded Central Bancompany from an "overweight" rating to an "equal weight" rating and raised their price objective for the stock from $35.00 to $36.00 in a research note on Tuesday, September 8th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Central Bancompany presently has a consensus rating of "Hold" and a consensus price target of $35.75.

Central Bancompany Trading Up 0.9%

Shares of CBC stock traded up $0.30 on Wednesday, reaching $35.01. The company had a trading volume of 191,269 shares, compared to its average volume of 735,116. The stock has a market cap of $8.39 billion and a PE ratio of 25.00. The company has a 50-day moving average of $32.40 and a 200-day moving average of $28.47. Central Bancompany has a 12 month low of $21.99 and a 12 month high of $35.42.

Central Bancompany (NASDAQ:CBC - Get Free Report) last released its quarterly earnings data 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). The company had revenue of $285.43 million for the quarter. Sell-side analysts anticipate that Central Bancompany will post 1.91 earnings per share for the current year.

Institutional Investors Weigh In On Central Bancompany

A number of hedge funds and other institutional investors have recently bought and sold shares of CBC. North Reef Capital Management LP boosted its position in Central Bancompany by 210.9% during the 1st quarter. North Reef Capital Management LP now owns 4,075,000 shares of the company's stock worth $97,596,000 after acquiring an additional 2,764,327 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Central Bancompany by 3,292.1% in the first quarter. Bank of America Corp DE now owns 128,220 shares of the company's stock valued at $3,071,000 after purchasing an additional 124,440 shares during the last quarter. Quantinno Capital Management LP acquired a new stake in shares of Central Bancompany in the first quarter valued at approximately $1,942,000. Sequoia Financial Advisors LLC lifted its position in shares of Central Bancompany by 2.1% in the second quarter. Sequoia Financial Advisors LLC now owns 76,582 shares of the company's stock worth $2,327,000 after purchasing an additional 1,582 shares in the last quarter. Finally, Sei Investments Co. bought a new stake in shares of Central Bancompany in the first quarter worth $1,219,000.

Central Bancompany Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.