Mendon Capital Advisors Corp Has $2.40 Million Stake in Central Bancompany $CBC

Key Points

• Mendon Capital Advisors cut its Central Bancompany stake by 50.1% in the first quarter, selling 100,601 shares and retaining 100,000 shares valued at approximately $2.40 million.
• Analyst sentiment remains generally positive, with four Buy ratings and two Holds, resulting in a consensus “Moderate Buy” rating and an average price target of $30.25.
• Central Bancompany exceeded first-quarter expectations, reporting $0.46 in EPS and $273.7 million in revenue, while maintaining a quarterly dividend of $0.12, equivalent to a 1.5% annual yield.

Mendon Capital Advisors Corp reduced its position in Central Bancompany (NASDAQ:CBC - Free Report) by 50.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 100,000 shares of the company's stock after selling 100,601 shares during the quarter. Mendon Capital Advisors Corp's holdings in Central Bancompany were worth $2,395,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Quarry LP acquired a new position in Central Bancompany during the fourth quarter valued at approximately $26,000. PNC Financial Services Group Inc. acquired a new stake in Central Bancompany in the fourth quarter valued at about $51,000. Arax Advisory Partners acquired a new position in Central Bancompany during the fourth quarter worth about $55,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Central Bancompany in the 1st quarter valued at approximately $137,000. Finally, Northwestern Mutual Wealth Management Co. bought a new position in Central Bancompany in the 4th quarter valued at approximately $210,000.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods upped their price target on shares of Central Bancompany from $27.50 to $28.00 and gave the stock a "market perform" rating in a report on Wednesday, April 29th. Weiss Ratings downgraded Central Bancompany from a "buy (b)" rating to a "buy (b-)" rating in a report on Monday, June 15th. Piper Sandler restated an "overweight" rating and set a $31.00 price objective on shares of Central Bancompany in a research report on Wednesday, April 29th. Zacks Research cut Central Bancompany from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 8th. Finally, Wall Street Zen upgraded Central Bancompany from a "sell" rating to a "hold" rating in a research report on Saturday, May 30th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Central Bancompany presently has a consensus rating of "Moderate Buy" and an average target price of $30.25.

Central Bancompany Stock Performance

Shares of NASDAQ CBC opened at $32.04 on Monday. The firm has a 50 day moving average price of $29.57 and a two-hundred day moving average price of $26.44. The stock has a market cap of $7.68 billion and a P/E ratio of 34.45. Central Bancompany has a 52-week low of $21.99 and a 52-week high of $32.31.

Central Bancompany (NASDAQ:CBC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $0.46 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 analyst estimates of $267.74 million. Analysts predict that Central Bancompany will post 1.94 earnings per share for the current fiscal year.

Central Bancompany Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 22nd were paid a $0.12 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $0.48 annualized dividend and a dividend yield of 1.5%. Central Bancompany's dividend payout ratio 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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