Central Bancompany (NASDAQ:CBC) Sets New 12-Month High - Time to Buy?

Key Points

• Central Bancompany shares reached a new 52-week high of $34.00, up from the prior close of $32.06. The stock’s 50-day and 200-day moving averages are $32.35 and $29.00, respectively.
• Analyst sentiment remains cautious, with two Buy ratings and four Holds producing an overall “Hold” consensus and an average price target of $35.00. Recent targets range from $32.00 to $37.00.
• The company narrowly missed quarterly earnings expectations, reporting $0.47 EPS versus $0.48 expected, but maintains a quarterly dividend of $0.12, equivalent to a 1.5% yield.

Central Bancompany (NASDAQ:CBC - Get Free Report)'s stock price reached a new 52-week high on Monday. The company traded as high as $34.00 and last traded at $34.00, with a volume of 563 shares traded. The stock had previously closed at $32.06.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CBC shares. Wall Street Zen cut shares of Central Bancompany from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th. Stephens reiterated an "equal weight" rating and set a $35.00 target price (up from $34.00) on shares of Central Bancompany in a report on Wednesday, August 5th. Keefe, Bruyette & Woods upped their price target on Central Bancompany from $29.00 to $32.00 and gave the stock a "market perform" rating in a research note on Wednesday, August 5th. Piper Sandler lifted their price objective on Central Bancompany from $31.00 to $37.00 and gave the company an "overweight" rating in a research note on Wednesday, August 5th. Finally, Morgan Stanley cut Central Bancompany from an "overweight" rating to an "equal weight" rating and increased their target price for the stock from $35.00 to $36.00 in a research note on Tuesday, September 8th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $35.00.

Central Bancompany Trading Up 0.1%

The company's 50 day simple moving average is $32.35 and its 200-day simple moving average is $29.00. The firm has a market cap of $7.69 billion and a P/E ratio of 22.93.

Central Bancompany (NASDAQ:CBC - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.01). The company had revenue of $281.72 million for the quarter. On average, sell-side analysts anticipate that Central Bancompany will post 1.9 earnings per share for the current year.

Central Bancompany Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 21st were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Friday, August 21st. Central Bancompany's dividend payout ratio (DPR) is presently 34.29%.

Institutional Trading of Central Bancompany

Several large investors have recently added to or reduced their stakes in CBC. Sequoia Financial Advisors LLC boosted its stake in shares of Central Bancompany by 2.1% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 76,582 shares of the company's stock worth $2,327,000 after acquiring an additional 1,582 shares during the last quarter. Squarepoint Ops LLC purchased a new position in Central Bancompany during the second quarter valued at $575,000. AXQ Capital LP bought a new stake in Central Bancompany during the second quarter valued at about $1,008,000. Public Employees Retirement System of Ohio purchased a new stake in Central Bancompany in the second quarter worth about $169,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Central Bancompany in the second quarter worth about $1,243,000.

About Central Bancompany

Central Bancompany, Inc is a bank holding company headquartered in Jefferson City, Missouri. Through its subsidiary banking organizations, the company provides a range of financial services to individuals, families, businesses and institutions.

Its services generally include personal and business deposit accounts, residential and commercial lending, consumer loans, treasury and cash-management services, online and mobile banking, and related wealth-management and trust services. The company's community-banking model is designed to serve local customers through branch-based and digital banking channels.

Central Bancompany serves communities primarily in Missouri and surrounding Midwestern markets through its network of affiliated banks and financial-service offices.

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