Brokerages Set Central Bancompany (NASDAQ:CBC) Price Target at $29.50

Shares of Central Bancompany (NASDAQ:CBC) have been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $29.50.

CBC has been the subject of several analyst reports. Morgan Stanley cut their price target on Central Bancompany from $31.00 to $29.00 and set an “overweight” rating for the company in a research note on Tuesday, March 31st. Zacks Research cut shares of Central Bancompany from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 8th. Stephens upped their price objective on shares of Central Bancompany from $28.00 to $30.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. Piper Sandler restated an “overweight” rating and issued a $31.00 target price on shares of Central Bancompany in a research note on Wednesday, April 29th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Central Bancompany from $27.50 to $28.00 and gave the company a “market perform” rating in a report on Wednesday, April 29th.

Central Bancompany Price Performance

Central Bancompany stock opened at $28.79 on Wednesday. Central Bancompany has a fifty-two week low of $21.99 and a fifty-two week high of $29.26. The firm has a 50-day moving average price of $26.81.

Central Bancompany (NASDAQ:CBC) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. The business had revenue of $273.71 million for the quarter, compared to analyst estimates of $267.74 million. On average, equities research analysts expect that Central Bancompany will post 1.93 EPS for the current year.

Central Bancompany Dividend Announcement

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CBC. Prime Capital Investment Advisors LLC purchased a new stake in shares of Central Bancompany in the fourth quarter valued at about $2,991,000. Massachusetts Financial Services Co. MA purchased a new position in shares of Central Bancompany during the 4th quarter worth approximately $31,779,000. PFG Investments LLC acquired a new position in shares of Central Bancompany during the 4th quarter worth approximately $264,000. Penobscot Investment Management Company Inc. acquired a new position in shares of Central Bancompany during the 4th quarter worth approximately $4,020,000. Finally, Atwood & Palmer Inc. purchased a new stake in Central Bancompany in the 4th quarter valued at approximately $7,117,000.

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.