Center Bancorp Stock Rating Lowered by Sterne Agee (CNBC)
Center Bancorp (NASDAQ:CNBC) was downgraded by investment analysts at Sterne Agee from a “buy” rating to a “neutral” rating in a note issued to investors on Monday, TheFlyOnTheWall.com reports. The analysts noted that the move was a valuation call.
Center Bancorp (NASDAQ:CNBC) opened at 17.72 on Monday. Center Bancorp has a one year low of $10.86 and a one year high of $18.33. The stock’s 50-day moving average is $15.63 and its 200-day moving average is $14.39. The company has a market cap of $290.1 million and a price-to-earnings ratio of 15.03.
Center Bancorp (NASDAQ:CNBC) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.31 earnings per share for the quarter. On average, analysts predict that Center Bancorp will post $1.21 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Thomson Reuters/Verus upgraded shares of Center Bancorp from a “hold” rating to a “buy” rating in a research note to investors on Monday, November 25th. Finally, analysts at Zacks upgraded shares of Center Bancorp from a “neutral” rating to an “outperform” rating in a research note to investors on Thursday, October 31st. They now have a $16.10 price target on the stock.
Center Bancorp, Inc is a holding company of Union Center National Bank (NASDAQ:CNBC).
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