Central Bancompany $CBC Shares Purchased by North Reef Capital Management LP

Key Points

• North Reef Capital Management boosted its stake in Central Bancompany by 210.9% in the first quarter, making CBC its 9th-largest position and about 3.4% of its portfolio.
• Several other institutional investors also added to or initiated positions in CBC, indicating broad interest from hedge funds and asset managers.
• Analysts remain generally positive on the stock, with a Moderate Buy consensus and an average price target of $30.25, while the company recently beat earnings expectations and pays a quarterly dividend yielding about 1.5%.

North Reef Capital Management LP raised its holdings in shares of Central Bancompany (NASDAQ:CBC - Free Report) by 210.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 4,075,000 shares of the company's stock after acquiring an additional 2,764,327 shares during the period. Central Bancompany makes up 3.4% of North Reef Capital Management LP's holdings, making the stock its 9th largest position. North Reef Capital Management LP owned 1.70% of Central Bancompany worth $97,596,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CBC. CENTRAL TRUST Co acquired a new stake in shares of Central Bancompany during the fourth quarter worth $176,998,000. Champlain Investment Partners LLC acquired a new position in Central Bancompany in the fourth quarter valued at about $42,165,000. Price T Rowe Associates Inc. MD acquired a new position in Central Bancompany in the fourth quarter valued at about $40,790,000. Massachusetts Financial Services Co. MA bought a new position in Central Bancompany during the fourth quarter worth about $31,779,000. Finally, Madison Avenue Partners LP acquired a new position in shares of Central Bancompany during the 4th quarter worth about $23,972,000.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CBC. Piper Sandler reaffirmed an "overweight" rating and issued a $31.00 price target on shares of Central Bancompany in a research note on Wednesday, April 29th. Wall Street Zen raised shares of Central Bancompany from a "sell" rating to a "hold" rating in a research note on Saturday, May 30th. Stephens boosted their price objective on shares of Central Bancompany from $28.00 to $30.00 and gave the company an "overweight" rating in a report on Wednesday, April 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. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Central Bancompany from $27.50 to $28.00 and gave the stock a "market perform" rating in a research report on Wednesday, April 29th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Central Bancompany currently has a consensus rating of "Moderate Buy" and an average price target of $30.25.

Central Bancompany Price Performance

NASDAQ:CBC opened at $32.04 on Friday. The business's 50-day simple moving average is $29.57 and its 200-day simple moving average is $26.42. Central Bancompany has a fifty-two week low of $21.99 and a fifty-two week high of $32.31. The stock has a market capitalization of $7.68 billion and a PE ratio of 34.45.

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

Central Bancompany Announces Dividend

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

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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