Central Bancompany (NASDAQ:CBC) Reaches New 52-Week High - Here's Why

Key Points

• Central Bancompany shares hit a new 52-week high, trading as high as $32.00 and closing near that level after rising about 2.5% on the day.
• Analyst sentiment remains mostly positive, with Morgan Stanley raising its target to $32 and several firms maintaining Buy or Overweight ratings; the consensus price target is $30.25.
• The company reported solid recent results, beating quarterly EPS and revenue estimates, and it also paid a quarterly dividend of $0.12 per share, implying a 1.5% annualized yield.

Central Bancompany (NASDAQ:CBC - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $32.00 and last traded at $31.9660, with a volume of 97026 shares trading hands. The stock had previously closed at $31.34.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Morgan Stanley upped their price target on shares of Central Bancompany from $29.00 to $32.00 and gave the stock an "overweight" rating in a research note on Monday, June 29th. Zacks Research downgraded shares of Central Bancompany from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 8th. Stephens boosted their price objective on shares of Central Bancompany from $28.00 to $30.00 and gave the stock an "overweight" rating in a report on Wednesday, April 29th. Wall Street Zen upgraded Central Bancompany from a "sell" rating to a "hold" rating in a research note on Saturday, May 30th. Finally, Keefe, Bruyette & Woods lifted their target price on Central Bancompany from $27.50 to $28.00 and gave the stock a "market perform" rating in a report on Wednesday, April 29th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $30.25.

Central Bancompany Trading Up 2.5%

The stock has a market cap of $7.70 billion and a P/E ratio of 34.55. The company's 50 day moving average price is $28.92 and its two-hundred day moving average price is $26.05.

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

Central Bancompany Announces Dividend

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. California State Teachers Retirement System bought a new position in shares of Central Bancompany during the 1st quarter valued at approximately $26,000. Quarry LP purchased a new position in Central Bancompany during the fourth quarter valued at approximately $26,000. PNC Financial Services Group Inc. bought a new position in shares of Central Bancompany in the fourth quarter worth approximately $51,000. Arax Advisory Partners bought a new position in shares of Central Bancompany in the fourth quarter worth approximately $55,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Central Bancompany in the first quarter worth $137,000.

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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