Central Bancompany (NASDAQ:CBC) Hits New 52-Week High - Time to Buy?

Key Points

• Central Bancompany shares hit a new 52-week high, trading as high as $32.31 and closing around $32.23, up about 0.9% on the day.
• Recent analyst action was mixed, but the overall view remains favorable: four analysts rate the stock a Buy, two a Hold, and the consensus price target is $30.25, below the recent trading level.
• The company beat earnings expectations in its latest quarter, reporting $0.46 EPS versus $0.44 expected, and it also pays a quarterly dividend of $0.12 per share, yielding about 1.5% annually.

Central Bancompany (NASDAQ:CBC - Get Free Report) shares reached a new 52-week high on Friday . The company traded as high as $32.31 and last traded at $32.2310, with a volume of 76094 shares. The stock had previously closed at $31.71.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Zacks Research downgraded Central Bancompany from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 8th. Weiss Ratings downgraded shares of Central Bancompany from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, June 15th. Piper Sandler restated an "overweight" rating and set a $31.00 price target on shares of Central Bancompany in a report on Wednesday, April 29th. Morgan Stanley lifted their price objective on shares of Central Bancompany from $29.00 to $32.00 and gave the company an "overweight" rating in a research note on Monday, June 29th. Finally, Stephens raised their target price on Central Bancompany from $28.00 to $30.00 and gave the company an "overweight" rating in a report on Wednesday, April 29th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $30.25.

Central Bancompany Trading Up 0.9%

The company's fifty day moving average is $29.46 and its 200-day moving average is $26.38. The firm has a market capitalization of $7.68 billion and a P/E ratio of 34.44.

Central Bancompany (NASDAQ:CBC - Get Free Report) last released its earnings results on Tuesday, April 28th. The company reported $0.46 earnings per share for the quarter, topping analysts' consensus estimates of $0.44 by $0.02. The firm had revenue of $273.70 million for the quarter, compared to analyst estimates of $267.74 million. On average, equities research analysts anticipate that Central Bancompany will post 1.94 EPS for the current year.

Central Bancompany Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 22nd were issued a dividend of $0.12 per share. The ex-dividend date was Friday, May 22nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.5%. Central Bancompany's payout ratio is 51.61%.

Hedge Funds Weigh In On Central Bancompany

Large investors have recently bought and sold shares of the stock. Prime Capital Investment Advisors LLC acquired a new stake in Central Bancompany in the 4th quarter worth $2,991,000. Massachusetts Financial Services Co. MA bought a new position in Central Bancompany during the fourth quarter valued at about $31,779,000. PFG Investments LLC acquired a new position in Central Bancompany in the 4th quarter valued at approximately $264,000. Penobscot Investment Management Company Inc. bought a new stake in shares of Central Bancompany in the 4th quarter worth approximately $4,020,000. Finally, Atwood & Palmer Inc. acquired a new stake in shares of Central Bancompany during the 4th quarter worth approximately $7,117,000.

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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