Penobscot Investment Management Company Inc. Makes New $4.02 Million Investment in Central Bancompany $CBC

Key Points

• Penobscot Investment Management bought a new stake of 166,650 shares in Central Bancompany (NASDAQ:CBC), valued at about $4.02 million (≈0.07% ownership), while other institutions including Massachusetts Financial Services also initiated or expanded positions (MFS ≈ $31.78M).
• CEO John Thomas Ross acquired 40,000 shares at $24.50 (~$980,000), increasing his direct holding to 82,000 shares, and insiders now control roughly 65.9% of the company.
• Analysts are cautiously positive with a consensus rating of "Moderate Buy" and a $28.63 price target after the company slightly beat Q4 EPS estimates ($0.47 vs. $0.46); Central Bancompany also pays a $0.12 quarterly dividend (1.9% yield).

Penobscot Investment Management Company Inc. bought a new position in shares of Central Bancompany (NASDAQ:CBC - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 166,650 shares of the company's stock, valued at approximately $4,020,000. Penobscot Investment Management Company Inc. owned approximately 0.07% of Central Bancompany at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. PFG Investments LLC acquired a new position in shares of Central Bancompany during the 4th quarter worth about $264,000. Prime Capital Investment Advisors LLC acquired a new position in shares of Central Bancompany during the 4th quarter worth about $2,991,000. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of Central Bancompany during the 4th quarter worth about $31,779,000.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CBC. Stephens began coverage on shares of Central Bancompany in a research note on Friday, March 27th. They set an "overweight" rating and a $28.00 price objective for the company. Weiss Ratings restated a "buy (b-)" rating on shares of Central Bancompany in a research note on Wednesday, March 25th. Morgan Stanley reduced their price objective on shares of Central Bancompany from $31.00 to $29.00 and set an "overweight" rating for the company in a research note on Tuesday, March 31st. 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, Piper Sandler increased their price objective on shares of Central Bancompany from $28.00 to $30.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 28th. Four investment 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, Central Bancompany has a consensus rating of "Moderate Buy" and a consensus price target of $28.63.

Insider Transactions at Central Bancompany

In related news, CEO John Thomas Ross acquired 40,000 shares of the business'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 transaction, the chief executive officer directly owned 82,000 shares of the company's stock, valued at approximately $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 accessible through this link. 65.90% of the stock is owned by company insiders.

Central Bancompany Price Performance

Shares of NASDAQ:CBC opened at $25.56 on Wednesday. Central Bancompany has a 52-week low of $21.99 and a 52-week high of $26.25. The firm has a 50-day moving average price of $24.37.

Central Bancompany (NASDAQ:CBC - Get Free Report) last issued its earnings results on Tuesday, January 27th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.01. The firm had revenue of $272.23 million during the quarter, compared to analyst estimates of $265.55 million. On average, sell-side analysts expect that Central Bancompany will post 1.87 EPS for the current year.

Central Bancompany Announces Dividend

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

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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