Central Bancompany (NASDAQ:CBC) Hits New 12-Month High After Dividend Announcement

Central Bancompany (NASDAQ:CBC)’s share price reached a new 52-week high during mid-day trading on Tuesday after the company announced a dividend. The stock traded as high as $37.30 and last traded at $37.3450, with a volume of 55,109 shares changing hands. The stock had previously closed at $36.85.

The newly announced dividend which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 20th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Friday, November 20th. This is an increase from Central Bancompany’s previous quarterly dividend of $0.12. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.5%. Central Bancompany’s dividend payout ratio is 25.53%.

Wall Street Analyst Weigh In

CBC has been the subject of several recent research reports. Piper Sandler lifted their price target on Central Bancompany from $37.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, October 28th. Stephens downgraded shares of Central Bancompany from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $34.00 to $35.00 in a report on Wednesday, August 5th. Morgan Stanley cut shares of Central Bancompany from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $35.00 to $36.00 in a research report on Tuesday, September 8th. Weiss Ratings raised Central Bancompany from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, October 23rd. Finally, Bank of America lowered shares of Central Bancompany from a “buy” rating to a “neutral” rating and set a $36.50 target price on the stock. in a report on Wednesday. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $35.90.

Central Bancompany Price Performance

The company has a market capitalization of $8.96 billion and a P/E ratio of 19.89. The company has a 50 day moving average of $33.02 and a 200-day moving average of $28.91.

Central Bancompany (NASDAQ:CBC) last released its quarterly earnings data on Tuesday, October 27th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.01). The business had revenue of $285.43 million during the quarter. Central Bancompany had a return on equity of 11.74% and a net margin of 34.30%. Research analysts predict that Central Bancompany will post 1.90 EPS for the current fiscal year.

Institutional Trading of Central Bancompany

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CBC. Commonwealth Equity Services LLC boosted its holdings in Central Bancompany by 14.1% in the third quarter. Commonwealth Equity Services LLC now owns 12,367 shares of the company’s stock valued at $386,000 after acquiring an additional 1,531 shares in the last quarter. State of Wyoming raised its holdings in Central Bancompany by 100.8% in the 3rd quarter. State of Wyoming now owns 10,423 shares of the company’s stock worth $326,000 after purchasing an additional 5,233 shares in the last quarter. Signaturefd LLC raised its holdings in Central Bancompany by 85.4% in the 3rd quarter. Signaturefd LLC now owns 799 shares of the company’s stock worth $25,000 after purchasing an additional 368 shares in the last quarter. Sterling Capital Management LLC lifted its position in shares of Central Bancompany by 64.0% in the 3rd quarter. Sterling Capital Management LLC now owns 887 shares of the company’s stock worth $28,000 after purchasing an additional 346 shares during the period. Finally, Inspire Investing LLC purchased a new stake in shares of Central Bancompany in the 3rd quarter worth about $393,000.

About Central Bancompany

Central Bancompany, Inc is a bank holding company headquartered in Jefferson City, Missouri. Through its banking subsidiaries, the company provides financial services to individuals, businesses and institutions, with a focus on community banking and relationship-based service.

Its offerings generally include personal and business deposit accounts, consumer and commercial lending, residential mortgages, treasury management, online and mobile banking, and other traditional banking services.