Central Bancompany (NASDAQ:CBC) Downgraded to "Hold" Rating by Zacks Research

Key Points

• Zacks Research downgraded Central Bancompany (NASDAQ:CBC) from a "strong-buy" to a "hold," while other analysts remain mixed — the consensus rating is a Moderate Buy with a $28.63 target price.
• CEO John Thomas Ross bought 40,000 shares at about $24.50 (~$980,000), increasing his stake materially, and several institutional investors added large Q4 positions worth tens of millions of dollars.

Central Bancompany (NASDAQ:CBC - Get Free Report) was downgraded by analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued on Wednesday,Zacks.com reports.

Several other research firms also recently issued reports on CBC. Morgan Stanley decreased their price objective on shares of Central Bancompany from $31.00 to $29.00 and set an "overweight" rating on the stock in a report on Tuesday, March 31st. Wall Street Zen downgraded shares of Central Bancompany from a "hold" rating to a "sell" rating in a report on Saturday, March 28th. Keefe, Bruyette & Woods increased their price objective on shares of Central Bancompany from $26.00 to $27.50 and gave the company a "market perform" rating in a report on Wednesday, January 28th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Central Bancompany in a report on Wednesday, March 25th. Finally, Stephens started coverage on shares of Central Bancompany in a report on Friday, March 27th. They set an "overweight" rating and a $28.00 price objective on the stock. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Central Bancompany presently has a consensus rating of "Moderate Buy" and a consensus target price of $28.63.

Central Bancompany Trading Up 1.0%

Shares of NASDAQ CBC opened at $25.09 on Wednesday. The business's fifty day moving average price is $24.26. Central Bancompany has a 1 year low of $21.99 and a 1 year high of $25.52.

Central Bancompany (NASDAQ:CBC - Get Free Report) last announced its quarterly earnings results on Tuesday, January 27th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.46 by $0.01. The firm had revenue of $272.23 million for the quarter, compared to analysts' expectations of $265.55 million.

Insider Activity at Central Bancompany

In other Central Bancompany news, CEO John Thomas Ross bought 40,000 shares of Central Bancompany stock in a transaction dated Friday, February 6th. The stock was acquired at an average cost of $24.50 per share, for a total transaction of $980,000.00. Following the completion of the transaction, the chief executive officer directly owned 82,000 shares of the company's stock, valued at approximately $2,009,000. This represents a 95.24% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Institutional Trading of Central Bancompany

A number of hedge funds have recently bought and sold shares of CBC. CENTRAL TRUST Co acquired a new stake in Central Bancompany in the 4th quarter valued at about $176,998,000. Champlain Investment Partners LLC acquired a new stake in Central Bancompany in the 4th quarter valued at about $42,165,000. Price T Rowe Associates Inc. MD acquired a new stake in Central Bancompany in the 4th quarter valued at about $40,790,000. Massachusetts Financial Services Co. MA acquired a new stake in Central Bancompany in the 4th quarter valued at about $31,779,000. Finally, North Reef Capital Management LP acquired a new stake in Central Bancompany in the 4th quarter valued at about $31,613,000.

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.

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