Central Bancompany (NASDAQ:CBC) Hits New 52-Week High - Here's What Happened

Key Points

• Central Bancompany shares reached a new 52-week high of $33.76, closing the session near $33.36 with nearly 889,000 shares traded.
• Analyst sentiment remains favorable, with four Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $30.25, below the current share price.
• The company reported quarterly EPS of $0.47, slightly missing estimates, and announced a quarterly dividend of $0.12 per share, representing a 1.4% yield.

Central Bancompany (NASDAQ:CBC - Get Free Report) reached a new 52-week high during trading on Wednesday . The company traded as high as $33.76 and last traded at $33.36, with a volume of 888055 shares traded. The stock had previously closed at $33.15.

Analysts Set New Price Targets

Several analysts have recently commented on CBC shares. Piper Sandler restated an "overweight" rating and set a $31.00 target price on shares of Central Bancompany in a report on Wednesday, April 29th. Keefe, Bruyette & Woods increased their price objective on shares of Central Bancompany from $27.50 to $28.00 and gave the stock a "market perform" rating in a report on Wednesday, April 29th. Morgan Stanley upped their target price on shares of Central Bancompany from $29.00 to $32.00 and gave the stock an "overweight" rating in a research 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, Zacks Research downgraded Central Bancompany from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 8th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $30.25.

Central Bancompany Price Performance

The stock has a market capitalization of $8.00 billion and a P/E ratio of 35.87. The business's 50 day simple moving average is $30.21 and its 200-day simple moving average is $26.87.

Central Bancompany (NASDAQ:CBC - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.01). The business had revenue of $281.72 million for the quarter. Research analysts anticipate that Central Bancompany will post 1.94 earnings per share for the current fiscal year.

Central Bancompany Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 21st will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, August 21st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.4%. Central Bancompany's payout ratio is 51.61%.

Hedge Funds Weigh In On Central Bancompany

Several hedge funds have recently added to or reduced their stakes in CBC. Keel Point LLC bought a new position in Central Bancompany during the first quarter worth about $201,000. Bank of America Corp DE increased its stake in shares of 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 valued at $3,071,000 after acquiring an additional 124,440 shares during the last quarter. Alexander Labrunerie & CO. Inc. increased its stake in shares of Central Bancompany by 7.1% in the 1st quarter. Alexander Labrunerie & CO. Inc. now owns 22,633 shares of the company's stock valued at $542,000 after acquiring an additional 1,508 shares during the last quarter. California State Teachers Retirement System acquired a new stake in shares of Central Bancompany in the 1st quarter valued at approximately $26,000. Finally, Quantinno Capital Management LP acquired a new stake in shares of Central Bancompany in the 1st quarter valued at approximately $1,942,000.

Central Bancompany Company Profile

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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