Central Bancompany (NASDAQ:CBC) Hits New 12-Month High – Here’s What Happened

Central Bancompany (NASDAQ:CBC) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $30.55 and last traded at $30.44, with a volume of 868968 shares traded. The stock had previously closed at $29.86.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Morgan Stanley boosted their price objective on shares of Central Bancompany from $29.00 to $32.00 and gave the company an “overweight” rating in a research report on Monday. Zacks Research cut shares of Central Bancompany from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 8th. Wall Street Zen upgraded shares of Central Bancompany from a “sell” rating to a “hold” rating in a report on Saturday, May 30th. Weiss Ratings lowered shares of Central Bancompany from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, June 15th. Finally, Piper Sandler reissued an “overweight” rating and issued a $31.00 price objective on shares of Central Bancompany in a research note on Wednesday, April 29th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $30.25.

Central Bancompany Trading Up 3.2%

The stock has a 50 day simple moving average of $27.94. The firm has a market cap of $7.52 billion and a price-to-earnings ratio of 33.72.

Central Bancompany (NASDAQ:CBC) last issued 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 company had revenue of $273.70 million for the quarter, compared to analysts’ expectations of $267.74 million. As a group, analysts predict that Central Bancompany will post 1.93 earnings per share for the current year.

Central Bancompany Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 22nd 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, May 22nd. Central Bancompany’s payout ratio is 51.61%.

Institutional Trading of Central Bancompany

Several institutional investors and hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System bought a new stake in shares of Central Bancompany during the first quarter valued at approximately $26,000. Quarry LP bought a new position in Central Bancompany in the fourth quarter worth approximately $26,000. PNC Financial Services Group Inc. purchased a new position in Central Bancompany during the 4th quarter worth $51,000. Arax Advisory Partners bought a new stake in Central Bancompany during the 4th quarter valued at $55,000. Finally, Public Employees Retirement System of Ohio bought a new stake in Central Bancompany during the 1st quarter valued at $137,000.

About Central Bancompany

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.