Central Bancompany (NASDAQ:CBC) Reaches New 1-Year High – Time to Buy?

Central Bancompany (NASDAQ:CBC) reached a new 52-week high on Tuesday. The stock traded as high as $37.30 and last traded at $37.3450, with a volume of 55,109 shares trading hands. The stock had previously closed at $36.85.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CBC shares. Morgan Stanley downgraded shares of Central Bancompany from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $35.00 to $36.00 in a report on Tuesday, September 8th. Wall Street Zen lowered Central Bancompany from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Keefe, Bruyette & Woods lifted their target price on Central Bancompany from $29.00 to $32.00 and gave the company a “market perform” rating in a research report on Wednesday, August 5th. Piper Sandler lifted their price objective on Central Bancompany from $37.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, October 28th. Finally, Weiss Ratings raised Central Bancompany from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, October 23rd. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Central Bancompany presently has an average rating of “Hold” and a consensus target price of $35.75.

Central Bancompany Stock Performance

The firm has a market capitalization of $8.87 billion and a PE ratio of 19.69. The stock’s 50-day simple moving average is $32.73 and its 200-day simple moving average is $28.71.

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

Institutional Investors Weigh In On Central Bancompany

Several institutional investors and hedge funds have recently made changes to their positions in CBC. North Reef Capital Management LP lifted its stake 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 buying an additional 2,764,327 shares in the last quarter. Bank of America Corp DE lifted its holdings in Central Bancompany by 3,292.1% in the first quarter. Bank of America Corp DE now owns 128,220 shares of the company’s stock valued at $3,071,000 after acquiring an additional 124,440 shares during the period. Quantinno Capital Management LP acquired a new position in shares of Central Bancompany during the 1st quarter worth $1,942,000. Sequoia Financial Advisors LLC boosted its stake in shares of Central Bancompany by 2.1% during the second quarter. Sequoia Financial Advisors LLC now owns 76,582 shares of the company’s stock valued at $2,327,000 after acquiring an additional 1,582 shares during the last quarter. Finally, Sei Investments Co. acquired a new stake in shares of Central Bancompany in the first quarter worth approximately $1,219,000.

Central Bancompany Company Profile

Central Bancompany, Inc is a bank holding company headquartered in Jefferson City, Missouri. Through its banking subsidiaries, the company provides financial services to individuals, businesses and institutions, with a focus on community banking and relationship-based service.

Its offerings generally include personal and business deposit accounts, consumer and commercial lending, residential mortgages, treasury management, online and mobile banking, and other traditional banking services.