AXQ Capital LP Purchases New Stake in Central Bancompany $CBC

Key Points

• AXQ Capital LP purchased 33,186 shares of Central Bancompany in the second quarter, representing a new stake valued at approximately $1.01 million. Several other institutional investors also recently initiated or increased positions.
• CBC shares opened at $32.64, near their 52-week high of $33.82, while the company reported quarterly EPS of $0.47, slightly below the $0.48 consensus estimate, on revenue of $281.72 million.
• Central Bancompany paid a quarterly dividend of $0.12 per share, equal to a 1.5% annualized yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $34.75.

AXQ Capital LP bought a new stake in Central Bancompany (NASDAQ:CBC - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 33,186 shares of the company's stock, valued at approximately $1,008,000.

A number of other large investors have also recently added to or reduced their stakes in the business. California State Teachers Retirement System acquired a new position in Central Bancompany in the 1st quarter valued at about $26,000. Quarry LP acquired a new stake in shares of Central Bancompany during the 4th quarter worth $26,000. Alexander Labrunerie & CO. Inc. raised its position in shares of Central Bancompany by 7.1% in 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 during the period. PNC Financial Services Group Inc. acquired a new position in Central Bancompany in the fourth quarter valued at $51,000. Finally, Arax Advisory Partners acquired a new position in Central Bancompany during the fourth quarter valued at approximately $55,000.

Central Bancompany Stock Down 0.1%

CBC stock opened at $32.64 on Friday. The company has a 50-day simple moving average of $32.11 and a 200 day simple moving average of $28.19. The company has a market capitalization of $7.82 billion and a P/E ratio of 23.31. Central Bancompany has a fifty-two week low of $21.99 and a fifty-two week 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 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.01). The business had revenue of $281.72 million for the quarter. Equities analysts anticipate that Central Bancompany will post 1.91 EPS for the current year.

Central Bancompany Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Friday, August 21st were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, August 21st. Central Bancompany's dividend payout ratio (DPR) is 34.29%.

Analyst Ratings Changes

Several research analysts have commented on CBC shares. Piper Sandler raised their price objective on Central Bancompany from $31.00 to $37.00 and gave the company an "overweight" rating in a research report on Wednesday, August 5th. Morgan Stanley reaffirmed an "overweight" rating and issued a $35.00 target price on shares of Central Bancompany in a research report on Wednesday, August 5th. Keefe, Bruyette & Woods increased their target price on Central Bancompany from $29.00 to $32.00 and gave the stock a "market perform" rating in a report on Wednesday, August 5th. Weiss Ratings upgraded Central Bancompany from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, August 24th. Finally, Stephens reiterated an "equal weight" rating and issued a $35.00 price target (up from $34.00) on shares of Central Bancompany in a report on Wednesday, August 5th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, Central Bancompany presently has a consensus rating of "Moderate Buy" and an average price target of $34.75.

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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