33,295 Shares in Central Bancompany $CBC Acquired by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 33,295 Central Bancompany shares during the first quarter, valued at approximately $797,000. Several other institutional investors also initiated positions, including CENTRAL TRUST Co., which invested roughly $177 million.
• Central Bancompany shares opened at $32.67, with a market capitalization of $7.83 billion, after the stock declined 1.5%. The company slightly missed quarterly earnings expectations, reporting $0.47 per share versus the $0.48 consensus estimate.
• The company declared a quarterly dividend of $0.12 per share, equivalent to a 1.5% annualized yield. Analyst sentiment remains moderately positive, with a consensus price target of $34.75, though ratings range from “sell” to “overweight.”

Bank of New York Mellon Corp bought a new stake in shares of Central Bancompany (NASDAQ:CBC - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 33,295 shares of the company's stock, valued at approximately $797,000.

A number of other institutional investors also recently made changes to their positions in CBC. PFG Investments LLC acquired a new position in Central Bancompany in the fourth quarter valued at $264,000. Penobscot Investment Management Company Inc. purchased a new stake in Central Bancompany during the fourth quarter valued at about $4,020,000. Atwood & Palmer Inc. acquired a new stake in Central Bancompany during the fourth quarter worth about $7,117,000. Delta Investment Management LLC purchased a new position in shares of Central Bancompany in the 4th quarter worth about $3,097,000. Finally, CENTRAL TRUST Co purchased a new position in shares of Central Bancompany in the 4th quarter worth about $176,998,000.

Central Bancompany Stock Down 1.5%

Shares of NASDAQ:CBC opened at $32.67 on Friday. The company's fifty day moving average is $31.01 and its two-hundred day moving average is $27.35. The company has a market cap of $7.83 billion and a P/E ratio of 23.34. Central Bancompany has a 12-month low of $21.99 and a 12-month high of $33.82.

Central Bancompany (NASDAQ:CBC - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.47 earnings per share for the quarter, missing analysts' consensus estimates of $0.48 by ($0.01). The firm had revenue of $281.72 million during the quarter. Equities research analysts anticipate that Central Bancompany will post 1.92 earnings per share for the current year.

Central Bancompany Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 21st will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Friday, August 21st. Central Bancompany's dividend payout ratio (DPR) is currently 34.29%.

Wall Street Analysts Forecast Growth

CBC has been the topic of a number of recent research reports. Wall Street Zen cut Central Bancompany from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Weiss Ratings downgraded Central Bancompany from a "buy (b)" rating to a "buy (b-)" rating in a report on Monday, June 15th. Piper Sandler boosted their price target on Central Bancompany from $31.00 to $37.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 5th. Keefe, Bruyette & Woods increased 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 report on Wednesday, August 5th. Finally, Stephens reiterated an "equal weight" rating and set a $35.00 price objective (up from $34.00) on shares of Central Bancompany in a research note on Wednesday, August 5th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Central Bancompany has an average rating of "Moderate Buy" and a consensus price target of $34.75.

Central Bancompany 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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