Central Bancompany (NASDAQ:CBC) Hits New 12-Month High - Here's Why

Key Points

• Central Bancompany shares reached a new 52-week high of $38.77, up from the prior close of $37.75.
• Analysts’ consensus rating is Hold, with a $35.90 price target; the company narrowly missed quarterly earnings estimates, reporting $0.48 per share versus $0.49 expected.
• The company raised its quarterly dividend from $0.12 to $0.14 per share, equivalent to an annualized $0.56 dividend and a 1.5% yield.

Central Bancompany (NASDAQ:CBC - Get Free Report) hit a new 52-week high on Monday. The company traded as high as $38.77 and last traded at $38.5810, with a volume of 909,059 shares. The stock had previously closed at $37.75.

Analyst Ratings Changes

Several analysts have weighed in on CBC shares. Keefe, Bruyette & Woods raised their price target on Central Bancompany from $29.00 to $32.00 and gave the company a "market perform" rating in a report on Wednesday, August 5th. Wall Street Zen downgraded Central Bancompany from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th. Morgan Stanley lowered Central Bancompany from an "overweight" rating to an "equal weight" rating and lifted their price target for the stock from $35.00 to $36.00 in a research note on Tuesday, September 8th. Weiss Ratings upgraded Central Bancompany from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, October 23rd. Finally, Bank of America lowered Central Bancompany from a "buy" rating to a "neutral" rating and set a $36.50 price objective on the stock. in a research report on Wednesday, November 4th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Central Bancompany presently has an average rating of "Hold" and a consensus price target of $35.90.

Central Bancompany Stock Performance

The company has a market cap of $9.23 billion and a PE ratio of 20.49. The business's 50-day moving average is $33.12 and its 200 day moving average is $28.98.

Central Bancompany (NASDAQ:CBC - Get Free Report) last posted its quarterly earnings results on Tuesday, October 27th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.01). Central Bancompany had a return on equity of 11.74% and a net margin of 34.30%. The business had revenue of $285.43 million during the quarter. Equities research analysts anticipate that Central Bancompany will post 1.90 EPS for the current fiscal year.

Central Bancompany Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 20th will be issued a dividend of $0.14 per share. The ex-dividend date is Friday, November 20th. This represents a $0.56 annualized dividend and a yield of 1.5%. This is a boost from Central Bancompany's previous quarterly dividend of $0.12. Central Bancompany's dividend payout ratio (DPR) is currently 29.79%.

Hedge Funds Weigh In On Central Bancompany

A number of large investors have recently bought and sold shares of the stock. Signaturefd LLC increased its position in shares of Central Bancompany by 85.4% in the third quarter. Signaturefd LLC now owns 799 shares of the company's stock valued at $25,000 after acquiring an additional 368 shares during the period. Sterling Capital Management LLC increased its stake in shares of Central Bancompany by 64.0% during the third quarter. Sterling Capital Management LLC now owns 887 shares of the company's stock valued at $28,000 after buying an additional 346 shares during the period. California State Teachers Retirement System purchased a new stake in shares of Central Bancompany in the 1st quarter worth about $26,000. Public Employees Retirement System of Ohio purchased a new position in shares of Central Bancompany during the second quarter valued at about $169,000. Finally, Keel Point LLC purchased a new stake in Central Bancompany in the first quarter worth about $201,000.

Central Bancompany Company Profile

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