Central Bancompany $CBC Stake Reduced by CENTRAL TRUST Co

CENTRAL TRUST Co reduced its position in shares of Central Bancompany (NASDAQ:CBC) by 2.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,159,791 shares of the company’s stock after selling 178,446 shares during the quarter. Central Bancompany accounts for about 3.4% of CENTRAL TRUST Co’s investment portfolio, making the stock its 5th biggest holding. CENTRAL TRUST Co owned 2.98% of Central Bancompany worth $171,477,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CBC. Quarry LP purchased a new stake in shares of Central Bancompany during the 4th quarter valued at about $26,000. PNC Financial Services Group Inc. bought a new position in Central Bancompany during the fourth quarter valued at approximately $51,000. Arax Advisory Partners bought a new position in Central Bancompany during the fourth quarter valued at approximately $55,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Central Bancompany in the fourth quarter worth approximately $210,000. Finally, Summit Financial LLC bought a new stake in Central Bancompany in the 4th quarter worth approximately $243,000.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CBC shares. Weiss Ratings cut Central Bancompany from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, June 15th. Stephens boosted their price target on Central Bancompany from $28.00 to $30.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Keefe, Bruyette & Woods increased their price objective on shares of Central Bancompany from $27.50 to $28.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 29th. Piper Sandler reissued an “overweight” rating and issued a $31.00 price objective on shares of Central Bancompany in a report on Wednesday, April 29th. Finally, Morgan Stanley reduced their target price on shares of Central Bancompany from $31.00 to $29.00 and set an “overweight” rating for the company in a report on Tuesday, March 31st. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.50.

Central Bancompany Price Performance

NASDAQ:CBC opened at $28.98 on Wednesday. The firm’s 50-day moving average is $27.33. Central Bancompany has a 52-week low of $21.99 and a 52-week high of $29.26.

Central Bancompany (NASDAQ:CBC) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.44 by $0.02. The company had revenue of $273.70 million during the quarter, compared to the consensus estimate of $267.74 million. Equities research analysts predict that Central Bancompany will post 1.93 EPS for the current year.

Central Bancompany Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 22nd were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Friday, May 22nd.

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.