Central Bancompany (NASDAQ:CBC) Hits New 12-Month High – Still a Buy?

Shares of Central Bancompany (NASDAQ:CBC) hit a new 52-week high on Monday . The stock traded as high as $27.75 and last traded at $27.4270, with a volume of 73673 shares trading hands. The stock had previously closed at $27.27.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CBC. Morgan Stanley lowered their price target 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. Stephens increased their price target on Central Bancompany from $28.00 to $30.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Wall Street Zen upgraded Central Bancompany from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Weiss Ratings downgraded Central Bancompany from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, April 27th. Finally, Piper Sandler reiterated an “overweight” rating and set a $31.00 price target on shares of Central Bancompany in a report on Wednesday, April 29th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $29.50.

Central Bancompany Stock Up 0.1%

The company’s 50 day moving average price is $24.75.

Central Bancompany (NASDAQ:CBC) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $0.46 earnings per share 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 the consensus estimate of $267.74 million. On average, equities research analysts forecast that Central Bancompany will post 1.93 EPS for the current year.

Central Bancompany Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 22nd will be given a $0.12 dividend. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $0.48 annualized dividend and a yield of 1.8%.

Hedge Funds Weigh In On Central Bancompany

Several hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp bought a new position in shares of Central Bancompany during the 1st quarter worth approximately $797,000. Mendon Capital Advisors Corp bought a new position in shares of Central Bancompany during the 4th quarter worth approximately $4,727,000. XTX Topco Ltd bought a new position in shares of Central Bancompany during the 4th quarter worth approximately $282,000. Oxford Asset Management LLP bought a new position in shares of Central Bancompany during the 4th quarter worth approximately $738,000. Finally, Millennium Management LLC bought a new position in shares of Central Bancompany during the 4th quarter worth approximately $9,203,000.

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.