Central Bancompany (NASDAQ:CBC) Lowered to Sell Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Central Bancompany from “Hold” to “Sell,” despite the broader analyst consensus remaining “Moderate Buy” with an average price target of $34.75.
• Central Bancompany shares opened at $33.51, near their 12-month high of $33.82, with a market capitalization of $8.03 billion and a P/E ratio of 36.03.
• The company narrowly missed quarterly earnings expectations, reporting EPS of $0.47 versus the $0.48 consensus estimate, while revenue totaled $281.72 million.

Central Bancompany (NASDAQ:CBC - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Saturday.

A number of other analysts have also recently weighed in on the company. Stephens reiterated an "equal weight" rating and issued a $35.00 price target (up from $34.00) on shares of Central Bancompany in a research report on Wednesday. Weiss Ratings cut shares of Central Bancompany from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, June 15th. Morgan Stanley reaffirmed an "overweight" rating and set a $35.00 price target on shares of Central Bancompany in a research note on Wednesday. Piper Sandler increased their price objective on shares of Central Bancompany from $31.00 to $37.00 and gave the company an "overweight" rating in a report on Wednesday. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Central Bancompany from $29.00 to $32.00 and gave the company a "market perform" rating in a research note on Wednesday. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $34.75.

Central Bancompany Stock Performance

Shares of Central Bancompany stock opened at $33.51 on Friday. The firm's 50-day simple moving average is $30.50 and its 200-day simple moving average is $27.05. Central Bancompany has a twelve month low of $21.99 and a twelve month high of $33.82. The firm has a market cap of $8.03 billion and a P/E ratio of 36.03.

Central Bancompany (NASDAQ:CBC - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.01). The company had revenue of $281.72 million for the quarter. On average, equities analysts forecast that Central Bancompany will post 1.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Central Bancompany

Hedge funds and other institutional investors have recently made changes to their positions in the company. Prime Capital Investment Advisors LLC acquired a new stake in Central Bancompany during the 4th quarter worth $2,991,000. CENTRAL TRUST Co bought a new stake in shares of Central Bancompany in the fourth quarter worth about $176,998,000. North Reef Capital Management LP increased its holdings in shares of 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 worth $97,596,000 after acquiring an additional 2,764,327 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of Central Bancompany during the fourth quarter worth about $31,779,000. Finally, Delta Investment Management LLC bought a new position in shares of Central Bancompany during the 4th quarter valued at about $3,097,000.

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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