Madison Avenue Partners LP Buys Shares of 993,879 Central Bancompany $CBC

Madison Avenue Partners LP bought a new stake in Central Bancompany (NASDAQ:CBC) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 993,879 shares of the company’s stock, valued at approximately $23,972,000. Central Bancompany accounts for about 1.0% of Madison Avenue Partners LP’s portfolio, making the stock its 18th largest position. Madison Avenue Partners LP owned about 0.41% of Central Bancompany as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CBC. Quarry LP acquired a new position in Central Bancompany in the fourth quarter valued at about $26,000. PNC Financial Services Group Inc. acquired a new position in shares of Central Bancompany during the fourth quarter worth about $51,000. Arax Advisory Partners acquired a new position in shares of Central Bancompany during the fourth quarter worth about $55,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Central Bancompany during the fourth quarter worth about $210,000. Finally, Summit Financial LLC acquired a new position in shares of Central Bancompany during the fourth quarter worth about $243,000.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CBC shares. Piper Sandler reaffirmed an “overweight” rating and set a $31.00 price objective on shares of Central Bancompany in a research report on Wednesday, April 29th. Morgan Stanley reduced their price objective on Central Bancompany from $31.00 to $29.00 and set an “overweight” rating for the company in a research report on Tuesday, March 31st. Stephens upped their price objective on Central Bancompany from $28.00 to $30.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. Keefe, Bruyette & Woods upped their price objective on Central Bancompany from $27.50 to $28.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 29th. Finally, Weiss Ratings cut Central Bancompany from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $29.50.

Central Bancompany Stock Performance

NASDAQ:CBC opened at $27.55 on Thursday. The company has a 50 day simple moving average of $27.03. Central Bancompany has a 12-month low of $21.99 and a 12-month high of $29.26.

Central Bancompany (NASDAQ:CBC) last released its quarterly earnings data on Tuesday, April 28th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.02. The business had revenue of $273.71 million during the quarter, compared to the consensus estimate of $267.74 million. Equities research analysts predict that Central Bancompany will post 1.93 EPS for the current fiscal year.

Central Bancompany Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 22nd were paid a dividend of $0.12 per share. The ex-dividend date was Friday, May 22nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.7%.

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.