Stephens Reiterates Equal Weight Rating for Central Bancompany (NASDAQ:CBC)

Key Points

• Stephens maintained an Equal Weight rating on Central Bancompany with a $35 price target, implying 4.92% upside from the prior close. The analyst consensus remains “Moderate Buy,” with an average target of $31.50.
• CBC shares opened at $33.36 and were up 0.6%, near their 52-week high of $33.76. The company recently reported quarterly EPS of $0.47, slightly below the $0.48 consensus estimate, on revenue of $281.72 million.
• Institutional interest has increased, including North Reef Capital Management’s 210.9% position expansion and several large new stakes acquired by investment firms.

Central Bancompany (NASDAQ:CBC - Get Free Report)'s stock had its "equal weight" rating restated by stock analysts at Stephens in a report issued on Wednesday, MarketBeat Ratings reports. They currently have a $35.00 price objective on the stock. Stephens' price target would indicate a potential upside of 4.92% from the stock's previous close.

CBC has been the topic of a number of other reports. Morgan Stanley raised their price target on Central Bancompany from $29.00 to $32.00 and gave the company an "overweight" rating in a report on Monday, June 29th. Wall Street Zen upgraded shares of Central Bancompany from a "sell" rating to a "hold" rating in a report on Saturday, May 30th. Zacks Research cut Central Bancompany from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 8th. Keefe, Bruyette & Woods increased their price target on Central Bancompany from $27.50 to $28.00 and gave the company a "market perform" rating in a research note on Wednesday, April 29th. Finally, Weiss Ratings lowered Central Bancompany from a "buy (b)" rating to a "buy (b-)" rating in a report on Monday, June 15th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, Central Bancompany presently has a consensus rating of "Moderate Buy" and an average price target of $31.50.

Central Bancompany Stock Up 0.6%

Shares of NASDAQ:CBC opened at $33.36 on Wednesday. The company's 50-day moving average price is $30.21 and its 200 day moving average price is $26.87. The company has a market cap of $8.00 billion and a PE ratio of 35.87. Central Bancompany has a fifty-two week low of $21.99 and a fifty-two week high of $33.76.

Central Bancompany (NASDAQ:CBC - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.01). The business had revenue of $281.72 million for the quarter. As a group, equities analysts anticipate that Central Bancompany will post 1.94 EPS for the current year.

Hedge Funds Weigh In On Central Bancompany

A number of hedge funds and other institutional investors have recently modified their holdings of CBC. CENTRAL TRUST Co acquired a new stake in Central Bancompany during the 4th quarter worth about $176,998,000. North Reef Capital Management LP increased its position in shares of Central Bancompany by 210.9% in the first quarter. North Reef Capital Management LP now owns 4,075,000 shares of the company's stock worth $97,596,000 after acquiring an additional 2,764,327 shares in the last quarter. Champlain Investment Partners LLC purchased a new stake in shares of Central Bancompany in the 4th quarter valued at approximately $42,165,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of Central Bancompany in the 4th quarter valued at approximately $40,790,000. Finally, Massachusetts Financial Services Co. MA acquired a new position in Central Bancompany in the 4th quarter worth approximately $31,779,000.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source