Central Bancompany (NASDAQ:CBC) Sets New 1-Year High – Should You Buy?

Central Bancompany (NASDAQ:CBC)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $30.55 and last traded at $30.44, with a volume of 868968 shares changing hands. The stock had previously closed at $29.86.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CBC shares. Stephens lifted their price target on shares of Central Bancompany from $28.00 to $30.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Morgan Stanley increased their price objective on shares of Central Bancompany from $29.00 to $32.00 and gave the company an “overweight” rating in a research note on Monday. Zacks Research downgraded shares of Central Bancompany from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 8th. Wall Street Zen upgraded shares of Central Bancompany from a “sell” rating to a “hold” rating in a research note on Saturday, May 30th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $31.00 price target on shares of Central Bancompany in a research report on Wednesday, April 29th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $30.25.

Central Bancompany Trading Up 1.9%

The firm has a fifty day simple moving average of $27.72.

Central Bancompany (NASDAQ:CBC) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.44 by $0.02. The business had revenue of $273.70 million during the quarter, compared to analyst estimates of $267.74 million. On average, research analysts anticipate that Central Bancompany will post 1.93 EPS for the current fiscal year.

Central Bancompany Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 22nd were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $0.48 annualized dividend and a dividend yield of 1.6%.

Institutional Trading of Central Bancompany

Several hedge funds have recently made changes to their positions in CBC. Keel Point LLC bought a new position in Central Bancompany during the 1st quarter worth $201,000. Bank of America Corp DE lifted its stake in Central Bancompany by 3,292.1% in the first quarter. Bank of America Corp DE now owns 128,220 shares of the company’s stock valued at $3,071,000 after buying an additional 124,440 shares during the last quarter. Alexander Labrunerie & CO. Inc. boosted its holdings in shares of Central Bancompany by 7.1% during the first quarter. Alexander Labrunerie & CO. Inc. now owns 22,633 shares of the company’s stock valued at $542,000 after acquiring an additional 1,508 shares during the period. California State Teachers Retirement System acquired a new position in shares of Central Bancompany during the first quarter valued at $26,000. Finally, Quantinno Capital Management LP bought a new position in shares of Central Bancompany during the first quarter worth about $1,942,000.

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.