Massachusetts Financial Services Co. MA Makes New Investment in Central Bancompany $CBC

Key Points

• Massachusetts Financial Services Co. MA established a new 4Q position in Central Bancompany, buying 1,317,551 shares worth about $31.78 million and now owns roughly 0.55% of the company.
• CEO John Thomas Ross bought 40,000 shares at $24.50 on Feb. 6, boosting his stake to 82,000 shares (a 95% increase), and company insiders collectively own about 65.9% of the stock.
• Central Bancompany beat Q4 EPS estimates ($0.47 vs. $0.46), declared a $0.12 quarterly dividend (annualized $0.48, ~1.9% yield), and carries a consensus analyst rating of "Moderate Buy" with a $28.63 price target.

Massachusetts Financial Services Co. MA purchased a new position in shares of Central Bancompany (NASDAQ:CBC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,317,551 shares of the company's stock, valued at approximately $31,779,000. Massachusetts Financial Services Co. MA owned 0.55% of Central Bancompany as of its most recent SEC filing.

Separately, Prime Capital Investment Advisors LLC acquired a new position in Central Bancompany during the fourth quarter worth approximately $2,991,000.

Central Bancompany Trading Up 1.8%

NASDAQ:CBC opened at $24.94 on Thursday. The company has a 50 day moving average of $24.28. Central Bancompany has a 12-month low of $21.99 and a 12-month high of $25.51.

Central Bancompany (NASDAQ:CBC - Get Free Report) last released its earnings results on Tuesday, January 27th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.46 by $0.01. The company had revenue of $272.23 million during the quarter, compared to analyst estimates of $265.55 million.

Central Bancompany Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Friday, February 20th were paid a $0.12 dividend. The ex-dividend date was Friday, February 20th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.9%.

Insider Buying and Selling at Central Bancompany

In other Central Bancompany news, CEO John Thomas Ross purchased 40,000 shares of the firm's stock in a transaction that occurred on Friday, February 6th. The shares were 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 in the company, valued at $2,009,000. This represents a 95.24% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 65.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CBC shares. Piper Sandler boosted their target price on Central Bancompany from $28.00 to $30.00 and gave the company an "overweight" rating in a report on Wednesday, January 28th. Zacks Research lowered Central Bancompany from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 8th. Weiss Ratings reissued a "buy (b-)" rating on shares of Central Bancompany in a report on Wednesday, March 25th. Wall Street Zen lowered Central Bancompany from a "hold" rating to a "sell" rating in a report on Saturday, March 28th. Finally, Stephens started coverage on Central Bancompany in a report on Friday, March 27th. They issued an "overweight" rating and a $28.00 target price on the stock. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $28.63.

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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