Central Bancompany (NASDAQ:CBC) Hits New 52-Week High – Here’s Why

Central Bancompany (NASDAQ:CBC) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $28.83 and last traded at $28.83, with a volume of 3369 shares. The stock had previously closed at $28.53.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Zacks Research downgraded Central Bancompany from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 8th. Wall Street Zen downgraded Central Bancompany from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Piper Sandler reaffirmed an “overweight” rating and set a $31.00 price target on shares of Central Bancompany in a research report on Wednesday, April 29th. Morgan Stanley reduced their price target on Central Bancompany from $31.00 to $29.00 and set an “overweight” rating for the company in a research report on Tuesday, March 31st. Finally, Keefe, Bruyette & Woods upped their price target on Central Bancompany from $27.50 to $28.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 29th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $29.50.

Central Bancompany Price Performance

The stock’s 50-day moving average price is $25.73.

Central Bancompany (NASDAQ:CBC) last released its earnings results on Tuesday, April 28th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. The business had revenue of $273.71 million during the quarter, compared to the consensus estimate of $267.74 million. As a group, equities analysts expect that Central Bancompany will post 1.93 earnings per share for the current fiscal year.

Central Bancompany Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 22nd will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, May 22nd.

Hedge Funds Weigh In On Central Bancompany

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE grew its stake in Central Bancompany by 3,292.1% in the 1st quarter. Bank of America Corp DE now owns 128,220 shares of the company’s stock valued at $3,071,000 after purchasing an additional 124,440 shares during the period. Alexander Labrunerie & CO. Inc. increased its position in shares of Central Bancompany by 7.1% during the 1st quarter. Alexander Labrunerie & CO. Inc. now owns 22,633 shares of the company’s stock valued at $542,000 after purchasing an additional 1,508 shares during the last quarter. California State Teachers Retirement System bought a new position in Central Bancompany during the 1st quarter worth approximately $26,000. Quantinno Capital Management LP bought a new position in Central Bancompany during the 1st quarter worth approximately $1,942,000. Finally, North Reef Capital Management LP grew its position in Central Bancompany by 210.9% during the 1st 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 during the last quarter.

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.