Bank of New York Mellon Corp Buys Shares of 40,915 Central Bancompany $CBC

Key Points

• Bank of New York Mellon acquired 40,915 shares of Central Bancompany worth approximately $1.24 million, while several other institutional investors also initiated positions.
• Analyst views remain mixed, with ratings ranging from sell to buy; the overall consensus is Hold, with a $35.00 average price target.
• CBC reported quarterly EPS of $0.47, slightly below the $0.48 estimate, and maintains a $0.12 quarterly dividend, equivalent to a 1.5% yield.

Bank of New York Mellon Corp acquired a new stake in Central Bancompany (NASDAQ:CBC - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm acquired 40,915 shares of the company's stock, valued at approximately $1,243,000.

A number of other large investors also recently bought and sold shares of CBC. California State Teachers Retirement System purchased a new stake in Central Bancompany in the 1st quarter valued at approximately $26,000. Quarry LP purchased a new stake in shares of Central Bancompany in the fourth quarter valued at approximately $26,000. PNC Financial Services Group Inc. purchased a new stake in shares of Central Bancompany in the fourth quarter valued at approximately $51,000. Arax Advisory Partners acquired a new position in Central Bancompany during the fourth quarter worth $55,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in Central Bancompany in the first quarter valued at $137,000.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CBC shares. Wall Street Zen downgraded shares of Central Bancompany from a "hold" rating to a "sell" rating in a report on Saturday, August 8th. Stephens restated an "equal weight" rating and set a $35.00 target price (up from $34.00) on shares of Central Bancompany in a research report on Wednesday, August 5th. 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 note on Wednesday, August 5th. Weiss Ratings upgraded shares of Central Bancompany from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, August 24th. Finally, Morgan Stanley cut shares of Central Bancompany from an "overweight" rating to an "equal weight" rating and increased their price objective for the company from $35.00 to $36.00 in a research note on Tuesday. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Central Bancompany has a consensus rating of "Hold" and a consensus price target of $35.00.

Central Bancompany Stock Performance

Shares of CBC opened at $32.05 on Thursday. Central Bancompany has a 1 year low of $21.99 and a 1 year high of $33.82. The company's 50 day simple moving average is $32.21 and its 200 day simple moving average is $28.37. The company has a market capitalization of $7.68 billion and a price-to-earnings ratio of 22.89.

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 the consensus estimate of $0.48 by ($0.01). The business had revenue of $281.72 million during the quarter. Equities analysts expect that Central Bancompany will post 1.91 EPS for the current fiscal year.

Central Bancompany Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Friday, August 21st were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, August 21st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.5%. Central Bancompany's dividend payout ratio is currently 34.29%.

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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