Central Bancompany (NASDAQ:CBC) Reaches New 1-Year High – Here’s Why

Central Bancompany (NASDAQ:CBC)’s share price reached a new 52-week high during trading on Friday . The company traded as high as $25.82 and last traded at $26.04, with a volume of 137015 shares traded. The stock had previously closed at $25.18.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CBC shares. Stephens initiated coverage on Central Bancompany in a report on Friday, March 27th. They set an “overweight” rating and a $28.00 price target for the company. Piper Sandler boosted their price objective on Central Bancompany from $28.00 to $30.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 28th. Zacks Research lowered Central Bancompany from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 8th. Morgan Stanley reduced their price objective on Central Bancompany from $31.00 to $29.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 31st. Finally, Keefe, Bruyette & Woods boosted their price objective on Central Bancompany from $26.00 to $27.50 and gave the stock a “market perform” rating in a research report on Wednesday, January 28th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Central Bancompany presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.63.

Central Bancompany Stock Up 1.7%

The stock has a 50-day simple moving average of $24.30.

Central Bancompany (NASDAQ:CBC) last issued its quarterly earnings data on Tuesday, January 27th. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. The firm had revenue of $272.23 million for the quarter, compared to the consensus estimate of $265.55 million.

Central Bancompany Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Friday, February 20th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Friday, February 20th.

Insider Activity at Central Bancompany

In related news, CEO John Thomas Ross purchased 40,000 shares of Central Bancompany stock in a transaction on Friday, February 6th. The shares were purchased at an average price of $24.50 per share, for a total transaction of $980,000.00. Following the transaction, the chief executive officer owned 82,000 shares of the company’s stock, valued at approximately $2,009,000. This represents a 95.24% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 65.90% of the company’s stock.

Institutional Investors Weigh In On Central Bancompany

A number of institutional investors have recently made changes to their positions in the stock. Mendon Capital Advisors Corp bought a new stake in shares of Central Bancompany in the 4th quarter valued at about $4,727,000. XTX Topco Ltd bought a new stake in shares of Central Bancompany in the 4th quarter valued at about $282,000. Oxford Asset Management LLP bought a new stake in shares of Central Bancompany in the 4th quarter valued at about $738,000. Millennium Management LLC bought a new stake in shares of Central Bancompany in the 4th quarter valued at about $9,203,000. Finally, Madison Avenue Partners LP bought a new stake in shares of Central Bancompany in the 4th quarter valued at about $23,972,000.

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.