Morgan Stanley Issues Pessimistic Forecast for Central Bancompany (NASDAQ:CBC) Stock Price

Central Bancompany (NASDAQ:CBC) had its price target dropped by equities research analysts at Morgan Stanley from $31.00 to $29.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price objective points to a potential upside of 18.13% from the company’s current price.

A number of other research firms have also commented on CBC. Wall Street Zen lowered shares of Central Bancompany from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. Stephens started coverage on shares of Central Bancompany in a report on Friday, March 27th. They issued an “overweight” rating and a $28.00 target price on the stock. Keefe, Bruyette & Woods upped their price target on shares of Central Bancompany from $26.00 to $27.50 and gave the company a “market perform” rating in a research report on Wednesday, January 28th. Zacks Research upgraded Central Bancompany from a “hold” rating to a “strong-buy” rating in a report on Monday, February 16th. Finally, Piper Sandler lifted 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. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Central Bancompany has a consensus rating of “Buy” and an average price target of $28.63.

Central Bancompany Trading Up 2.5%

Central Bancompany stock opened at $24.55 on Tuesday. The business has a 50 day moving average of $24.26. Central Bancompany has a one year low of $21.99 and a one year high of $25.50.

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

Insider Activity

In related news, CEO John Thomas Ross bought 40,000 shares of the company’s stock in a transaction that occurred on Friday, February 6th. The shares were bought at an average price of $24.50 per share, for a total transaction of $980,000.00. Following the transaction, the chief executive officer directly owned 82,000 shares of the company’s stock, valued at approximately $2,009,000. The trade was a 95.24% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Institutional Investors Weigh In On Central Bancompany

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Mendon Capital Advisors Corp bought a new stake in Central Bancompany in the fourth quarter valued at $4,727,000. XTX Topco Ltd bought a new position in shares of Central Bancompany during the 4th quarter worth about $282,000. Oxford Asset Management LLP acquired 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 Central Bancompany in the 4th quarter valued at about $9,203,000. Finally, Madison Avenue Partners LP bought a new stake in Central Bancompany in the 4th quarter valued at about $23,972,000.

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.