Central Bancompany (NASDAQ:CBC) Reaches New 1-Year High - Here's Why

Key Points

• Central Bancompany hit a new 52-week high, trading as high as $25.82 and last at $26.04 on volume of 137,015 shares.
• Analyst sentiment is mixed but tilted positive: the stock has an average rating of “Moderate Buy” with a consensus price target of $28.63 after recent upgrades and downgrades.
• Insider confidence—CEO John Thomas Ross bought 40,000 shares at about $24.50 (raising his stake to 82,000 shares), and company insiders own 65.90% of the stock.

Central Bancompany (NASDAQ:CBC - Get Free Report)'s stock price reached a new 52-week high on Friday . The stock traded as high as $25.82 and last traded at $26.04, with a volume of 137015 shares. The stock had previously closed at $25.18.

Analyst Ratings Changes

Several analysts recently weighed in on CBC shares. Piper Sandler lifted their price target on Central Bancompany from $28.00 to $30.00 and gave the stock an "overweight" rating in a report on Wednesday, January 28th. Zacks Research cut Central Bancompany from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 8th. Keefe, Bruyette & Woods lifted their price target on Central Bancompany from $26.00 to $27.50 and gave the stock a "market perform" rating in a report on Wednesday, January 28th. Wall Street Zen cut Central Bancompany from a "hold" rating to a "sell" rating in a report on Saturday, March 28th. Finally, Morgan Stanley dropped their price objective on Central Bancompany from $31.00 to $29.00 and set an "overweight" rating for the company in a report on Tuesday, March 31st. Four investment 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.com, the company has an average rating of "Moderate Buy" and a consensus price target of $28.63.

Central Bancompany Price Performance

The business's fifty day simple moving average is $24.30.

Central Bancompany (NASDAQ:CBC - Get Free Report) last announced its quarterly earnings data on Tuesday, January 27th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.01. The company had revenue of $272.23 million during the quarter, compared to analyst estimates of $265.55 million.

Central Bancompany Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 20th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, February 20th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.9%.

Insider Activity at Central Bancompany

In other Central Bancompany news, CEO John Thomas Ross purchased 40,000 shares of the stock in a transaction dated Friday, February 6th. The stock was bought at an average price of $24.50 per share, with a total value of $980,000.00. Following the acquisition, the chief executive officer 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 SEC, which is available through this hyperlink. Company insiders own 65.90% of the company's stock.

Hedge Funds Weigh In On Central Bancompany

A number of institutional investors have recently modified their holdings of CBC. Prime Capital Investment Advisors LLC acquired a new position in shares of Central Bancompany during the 4th quarter worth $2,991,000. Massachusetts Financial Services Co. MA acquired a new position in shares of Central Bancompany during the 4th quarter worth $31,779,000. PFG Investments LLC acquired a new position in shares of Central Bancompany during the 4th quarter worth $264,000. Penobscot Investment Management Company Inc. acquired a new position in shares of Central Bancompany during the 4th quarter worth $4,020,000. Finally, Atwood & Palmer Inc. acquired a new position in shares of Central Bancompany during the 4th quarter worth $7,117,000.

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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