Keefe, Bruyette & Woods Issues Positive Forecast for Central Bancompany (NASDAQ:CBC) Stock Price

Key Points

• Keefe, Bruyette & Woods raised its price target on Central Bancompany from $27.50 to $28.00 and kept a "market perform" rating (implying ~6.9% upside); the stock's consensus among analysts is a "Moderate Buy" with an average target of $29.25 and a split of three Buy and three Hold ratings.
• Central Bancompany beat expectations for the quarter with $0.46 EPS vs. $0.44 expected and revenue of $273.7M vs. $267.7M, and shares traded up to $26.19 during midday trading.
• Insider and institutional buying accelerated: CEO John Thomas Ross bought 40,000 shares at $24.50 (raising his stake to 82,000 shares) and insiders own 65.9% of the stock, while multiple large institutions established sizable new positions in Q4.

Central Bancompany (NASDAQ:CBC - Get Free Report) had its price objective increased by investment analysts at Keefe, Bruyette & Woods from $27.50 to $28.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a "market perform" rating on the stock. Keefe, Bruyette & Woods' target price would indicate a potential upside of 6.91% from the company's current price.

Several other equities research analysts also recently issued reports on CBC. Stephens reaffirmed an "overweight" rating and issued a $30.00 price target (up from $28.00) on shares of Central Bancompany in a research report on Wednesday. Wall Street Zen downgraded Central Bancompany from a "hold" rating to a "sell" rating in a research report on Saturday, March 28th. Morgan Stanley decreased their target price on Central Bancompany from $31.00 to $29.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 31st. Piper Sandler lifted their target price on Central Bancompany from $28.00 to $30.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 28th. Finally, Weiss Ratings downgraded Central Bancompany from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $29.25.

Central Bancompany Trading Up 1.2%

Shares of NASDAQ:CBC traded up $0.30 during midday trading on Wednesday, hitting $26.19. 52,366 shares of the stock were exchanged, compared to its average volume of 481,821. Central Bancompany has a 52-week low of $21.99 and a 52-week high of $26.76. The stock's fifty day moving average is $24.53.

Central Bancompany (NASDAQ:CBC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.02. The firm had revenue of $273.70 million for the quarter, compared to analysts' expectations of $267.74 million. On average, sell-side analysts forecast that Central Bancompany will post 1.87 EPS for the current year.

Insider Buying and Selling at Central Bancompany

In related news, CEO John Thomas Ross purchased 40,000 shares of the stock in a transaction that occurred on Friday, February 6th. The stock was acquired at an average price of $24.50 per share, with a total value of $980,000.00. Following the completion of the acquisition, the chief executive officer directly owned 82,000 shares in the company, valued at approximately $2,009,000. This trade represents a 95.24% increase in their position. 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 corporate insiders.

Institutional Trading of Central Bancompany

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. CENTRAL TRUST Co acquired a new stake in shares of Central Bancompany in the fourth quarter valued at approximately $176,998,000. Champlain Investment Partners LLC acquired a new stake in shares of Central Bancompany in the fourth quarter valued at approximately $42,165,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of Central Bancompany in the fourth quarter valued at approximately $40,790,000. Massachusetts Financial Services Co. MA acquired a new stake in shares of Central Bancompany in the fourth quarter valued at approximately $31,779,000. Finally, North Reef Capital Management LP acquired a new stake in shares of Central Bancompany in the fourth quarter valued at approximately $31,613,000.

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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