CENTRAL TRUST Co Makes New Investment in Central Bancompany $CBC

Key Points

• CENTRAL TRUST Co bought a new stake of 7,338,237 shares of Central Bancompany (~$176.998M), making CBC its 4th-largest holding and representing about 3.04% ownership of the bank.
• CEO John Thomas Ross acquired 40,000 shares at $24.50 ($980,000), boosting his stake to 82,000 shares (a 95.24% increase); insiders now own roughly 65.9% of the company.
• Central Bancompany beat estimates with $0.46 EPS and $273.7M revenue for the quarter, and analysts hold a consensus of "Moderate Buy" with an average price target of $29.50.

CENTRAL TRUST Co bought a new stake in Central Bancompany (NASDAQ:CBC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 7,338,237 shares of the company's stock, valued at approximately $176,998,000. Central Bancompany accounts for approximately 3.5% of CENTRAL TRUST Co's investment portfolio, making the stock its 4th largest position. CENTRAL TRUST Co owned about 3.04% of Central Bancompany as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. PFG Investments LLC acquired a new position in shares of Central Bancompany in the 4th quarter valued at about $264,000. Prime Capital Investment Advisors LLC acquired a new position in shares of Central Bancompany in the 4th quarter valued at about $2,991,000. Delta Investment Management LLC bought a new stake in shares of Central Bancompany in the 4th quarter valued at approximately $3,097,000. Penobscot Investment Management Company Inc. bought a new stake in shares of Central Bancompany in the 4th quarter valued at approximately $4,020,000. Finally, Atwood & Palmer Inc. bought a new stake in shares of Central Bancompany in the 4th quarter valued at approximately $7,117,000.

Insider Transactions at Central Bancompany

In related news, CEO John Thomas Ross acquired 40,000 shares of the company's stock in a transaction on Friday, February 6th. The stock was purchased at an average cost of $24.50 per share, for a total transaction of $980,000.00. Following the completion of the purchase, the chief executive officer directly owned 82,000 shares of the company's stock, valued at $2,009,000. The trade was a 95.24% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 65.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

CBC has been the subject of several recent research reports. Stephens boosted their price target on Central Bancompany from $28.00 to $30.00 and gave the company an "overweight" rating in a research note on Wednesday. Piper Sandler reissued an "overweight" rating and issued a $31.00 price target on shares of Central Bancompany in a research note on Wednesday. Weiss Ratings cut Central Bancompany from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, April 27th. Zacks Research cut Central Bancompany from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 8th. Finally, Wall Street Zen raised Central Bancompany from a "sell" rating to a "hold" rating in a research report on Saturday. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Central Bancompany has an average rating of "Moderate Buy" and an average price target of $29.50.

Central Bancompany Price Performance

Shares of NASDAQ CBC opened at $27.09 on Friday. The company has a fifty day moving average price of $24.59. Central Bancompany has a one year low of $21.99 and a one year high of $27.35.

Central Bancompany (NASDAQ:CBC - Get Free Report) last issued its earnings results on Tuesday, April 28th. The company reported $0.46 EPS for the quarter, beating analysts' consensus estimates of $0.44 by $0.02. The firm had revenue of $273.70 million during the quarter, compared to analyst estimates of $267.74 million. Equities analysts anticipate that Central Bancompany will post 1.93 EPS for the current year.

Central Bancompany Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Friday, February 20th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.8%. The ex-dividend date was Friday, February 20th.

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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