Central Bancompany (NASDAQ:CBC) Sets New 12-Month High - Here's What Happened

Key Points

• Central Bancompany shares reached a new 52-week high, trading as high as $32.92 and last changing hands near $32.67, up from a previous close of $32.45.
• Analyst sentiment remains positive overall, with four Buy ratings and two Holds producing a “Moderate Buy” consensus, though the average price target of $30.25 is below the current share price.
• The company exceeded quarterly expectations, reporting $0.46 in earnings per share and $273.7 million in revenue, and continues to pay a quarterly dividend of $0.12, equivalent to a 1.5% annualized yield.

Central Bancompany (NASDAQ:CBC - Get Free Report) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $32.92 and last traded at $32.6660, with a volume of 711135 shares. The stock had previously closed at $32.45.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CBC shares. Stephens upped their price target on shares of Central Bancompany from $28.00 to $30.00 and gave the company an "overweight" rating in a research note on Wednesday, April 29th. Wall Street Zen upgraded Central Bancompany from a "sell" rating to a "hold" rating in a report on Saturday, May 30th. Weiss Ratings downgraded Central Bancompany from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, June 15th. Morgan Stanley increased their target price on Central Bancompany from $29.00 to $32.00 and gave the stock an "overweight" rating in a research note on Monday, June 29th. Finally, Zacks Research cut Central Bancompany from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 8th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $30.25.

Central Bancompany Price Performance

The stock has a 50-day moving average of $29.85 and a 200-day moving average of $26.62. The firm has a market cap of $7.83 billion and a price-to-earnings ratio of 35.12.

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

Central Bancompany Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 22nd were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Friday, May 22nd. Central Bancompany's dividend payout ratio (DPR) is 51.61%.

Institutional Investors Weigh In On Central Bancompany

Several institutional investors and hedge funds have recently added to or reduced their stakes in CBC. Keel Point LLC acquired a new stake in shares of Central Bancompany in the 1st quarter valued at $201,000. Bank of America Corp DE raised its holdings in shares of Central Bancompany by 3,292.1% during the 1st quarter. Bank of America Corp DE now owns 128,220 shares of the company's stock worth $3,071,000 after buying an additional 124,440 shares in the last quarter. Alexander Labrunerie & CO. Inc. raised its holdings in shares of Central Bancompany by 7.1% during the 1st quarter. Alexander Labrunerie & CO. Inc. now owns 22,633 shares of the company's stock worth $542,000 after buying an additional 1,508 shares in the last quarter. California State Teachers Retirement System bought a new stake in shares of Central Bancompany during the 1st quarter worth $26,000. Finally, Quantinno Capital Management LP bought a new stake in shares of Central Bancompany during the 1st quarter worth $1,942,000.

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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