Central Bancompany (NASDAQ:CBC) Cut to Neutral at Bank of America

Bank of America lowered shares of Central Bancompany (NASDAQ:CBC) from a buy rating to a neutral rating in a research report sent to investors on Wednesday, MarketBeat reports. They currently have $36.50 price target on the stock.

Other equities research analysts also recently issued reports about the stock. Wall Street Zen downgraded shares of Central Bancompany from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Piper Sandler upped their price target on shares of Central Bancompany from $37.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, October 28th. Morgan Stanley downgraded shares of Central Bancompany from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $35.00 to $36.00 in a research note on Tuesday, September 8th. Weiss Ratings upgraded Central Bancompany from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, October 23rd. Finally, Stephens cut shares of Central Bancompany from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $34.00 to $35.00 in a research note on Wednesday, August 5th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $35.90.

Central Bancompany Stock Performance

CBC stock opened at $37.75 on Wednesday. The stock’s 50 day simple moving average is $33.12 and its 200 day simple moving average is $28.98. Central Bancompany has a fifty-two week low of $21.99 and a fifty-two week high of $38.76. The company has a market cap of $9.04 billion and a P/E ratio of 20.08.

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

Central Bancompany Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 20th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Friday, November 20th. This represents a $0.56 annualized dividend and a yield of 1.5%. This is a boost from Central Bancompany’s previous quarterly dividend of $0.12. Central Bancompany’s payout ratio is 25.53%.

Institutional Trading of Central Bancompany

A number of large investors have recently made changes to their positions in the company. CENTRAL TRUST Co boosted its stake in shares of Central Bancompany by 0.6% during the 3rd quarter. CENTRAL TRUST Co now owns 7,599,224 shares of the company’s stock worth $237,476,000 after purchasing an additional 48,141 shares during the last quarter. North Reef Capital Management LP grew its holdings in shares of Central Bancompany by 210.9% during the 1st quarter. North Reef Capital Management LP now owns 4,075,000 shares of the company’s stock valued at $97,596,000 after acquiring an additional 2,764,327 shares in the last quarter. Bank of America Corp DE grew its position in shares of 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 purchasing an additional 124,440 shares during the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of Central Bancompany by 2.1% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 76,582 shares of the company’s stock worth $2,327,000 after buying an additional 1,582 shares in the last quarter. Finally, Quantinno Capital Management LP bought a new stake in Central Bancompany during the 1st quarter worth about $1,942,000.

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.