Piper Sandler Issues Positive Forecast for Central Bancompany (NASDAQ:CBC) Stock Price

Key Points

• Piper Sandler raised its price target for Central Bancompany from $31 to $37 and maintained an “overweight” rating, implying 12.75% upside from the prior close.
• CBC shares fell 1.6% to $32.81, while the stock remains near its 52-week high; analysts have a consensus “Moderate Buy” rating and an average target of $33.75.
• Central Bancompany reported quarterly EPS of $0.47, narrowly missing the $0.48 consensus estimate, but declared a $0.12 dividend and authorized a refreshed $100 million share-repurchase program.

Central Bancompany (NASDAQ:CBC - Get Free Report) had its price objective hoisted by research analysts at Piper Sandler from $31.00 to $37.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Piper Sandler's price target points to a potential upside of 12.75% from the stock's previous close.

CBC has been the subject of several other research reports. Weiss Ratings downgraded Central Bancompany from a "buy (b)" rating to a "buy (b-)" rating in a report on Monday, June 15th. Zacks Research cut Central Bancompany from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 8th. Wall Street Zen upgraded Central Bancompany from a "sell" rating to a "hold" rating in a report on Saturday, May 30th. Morgan Stanley restated an "overweight" rating and issued a $35.00 price target on shares of Central Bancompany in a research note on Wednesday. Finally, Stephens reiterated an "equal weight" rating and issued a $35.00 price target on shares of Central Bancompany in a research note on Wednesday. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $33.75.

Central Bancompany Stock Down 1.6%

NASDAQ:CBC traded down $0.55 during midday trading on Wednesday, hitting $32.81. The stock had a trading volume of 298,938 shares, compared to its average volume of 581,898. Central Bancompany has a one year low of $21.99 and a one year high of $33.76. The company has a market capitalization of $7.87 billion and a price-to-earnings ratio of 35.39. The stock has a 50-day moving average of $30.21 and a 200 day moving average of $26.87.

Central Bancompany (NASDAQ:CBC - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.01). The company had revenue of $281.72 million during the quarter. On average, sell-side analysts anticipate that Central Bancompany will post 1.94 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Prime Capital Investment Advisors LLC acquired a new position in Central Bancompany during the 4th quarter valued at about $2,991,000. Massachusetts Financial Services Co. MA bought a new position in Central Bancompany during the fourth quarter valued at approximately $31,779,000. PFG Investments LLC bought a new stake in Central Bancompany in the fourth quarter worth approximately $264,000. Penobscot Investment Management Company Inc. acquired a new position in shares of Central Bancompany during the 4th quarter worth $4,020,000. Finally, Atwood & Palmer Inc. bought a new stake in Central Bancompany in the fourth quarter worth $7,117,000.

Key Stories Impacting Central Bancompany

Here are the key news stories impacting Central Bancompany this week:

• Positive Sentiment: The company declared a regular quarterly dividend of $0.12 per share, payable September 1 to shareholders of record August 21. The dividend implies an annualized yield of approximately 1.5%. Central Bancompany Second Quarter Results
• Positive Sentiment: Central Bancompany authorized a refreshed $100 million share-repurchase program, signaling that management sees opportunities to return capital and potentially support earnings per share. Central Bancompany Buyback Authorization
• Positive Sentiment: Stephens reaffirmed an “equal weight” rating but raised or set its price target at $35.00, indicating potential upside from recent trading levels. However, the unchanged neutral rating limits the strength of this catalyst. Stephens Central Bancompany Price Target
• Neutral Sentiment: Second-quarter revenue was $281.72 million, while management highlighted continued earnings momentum on the quarterly call. Central Bancompany Earnings Call Highlights
• Negative Sentiment: Quarterly earnings were $0.47 per share, narrowly below the consensus estimate of $0.48. The miss may be pressuring the stock, particularly after its strong run toward its 52-week high. Central Bancompany Q2 Earnings Snapshot
• Negative Sentiment: The average brokerage price target of $30.25 is below recent share prices, suggesting some analysts view the stock as fully valued despite the buyback and dividend. Central Bancompany Average Price Target

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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