Central Bancompany (NASDAQ:CBC) Reaches New 52-Week High – Should You Buy?

Central Bancompany (NASDAQ:CBC) reached a new 52-week high on Wednesday. The stock traded as high as $34.00 and last traded at $33.4320, with a volume of 44,725 shares trading hands. The stock had previously closed at $33.55.

Analysts Set New Price Targets

A number of research firms recently weighed in on CBC. Wall Street Zen downgraded Central Bancompany from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Weiss Ratings lowered Central Bancompany from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Morgan Stanley cut Central Bancompany from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $35.00 to $36.00 in a report on Tuesday, September 8th. Keefe, Bruyette & Woods upped their price target on Central Bancompany from $29.00 to $32.00 and gave the company a “market perform” rating in a report on Wednesday, August 5th. Finally, Piper Sandler raised their price objective on Central Bancompany from $31.00 to $37.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Central Bancompany presently has a consensus rating of “Hold” and a consensus target price of $35.00.

Central Bancompany Trading Down 0.4%

The company has a 50 day moving average of $32.26 and a 200 day moving average of $30.01. The firm has a market cap of $8.00 billion and a price-to-earnings ratio of 23.91.

Central Bancompany (NASDAQ:CBC) last released its quarterly earnings data 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 business had revenue of $281.72 million during the quarter. As a group, sell-side analysts anticipate that Central Bancompany will post 1.91 EPS for the current fiscal year.

Central Bancompany Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Friday, August 21st were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Friday, August 21st. Central Bancompany’s payout ratio is currently 34.29%.

Institutional Investors Weigh In On Central Bancompany

Several large investors have recently made changes to their positions in the company. QP Wealth Management LLC acquired a new stake in shares of Central Bancompany during the 3rd quarter worth about $371,000. Walker Asset Management LLC bought a new position in Central Bancompany during the 3rd quarter valued at about $625,000. Sequoia Financial Advisors LLC lifted its holdings in Central Bancompany by 2.1% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 76,582 shares of the company’s stock valued at $2,327,000 after purchasing an additional 1,582 shares during the last quarter. Squarepoint Ops LLC acquired a new position in Central Bancompany in the second quarter valued at about $575,000. Finally, AXQ Capital LP acquired a new position in Central Bancompany in the second quarter valued at about $1,008,000.

About Central Bancompany

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.