Central Bancompany (NASDAQ:CBC) Hits New 12-Month High – Here’s Why

Central Bancompany (NASDAQ:CBC) shares hit a new 52-week high on Monday. The company traded as high as $38.77 and last traded at $38.5810, with a volume of 909,059 shares. The stock had previously closed at $37.75.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CBC shares. Bank of America lowered shares of Central Bancompany from a “buy” rating to a “neutral” rating and set a $36.50 target price for the company. in a report on Wednesday, November 4th. Stephens downgraded Central Bancompany from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $34.00 to $35.00 in a research note on Wednesday, August 5th. Piper Sandler raised their price objective on Central Bancompany from $37.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, October 28th. Weiss Ratings upgraded Central Bancompany from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, October 23rd. Finally, Morgan Stanley downgraded Central Bancompany from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $35.00 to $36.00 in a report on Tuesday, September 8th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $35.90.

Central Bancompany Price Performance

The firm’s 50 day moving average price is $33.12 and its 200-day moving average price is $28.98. The stock has a market cap of $9.23 billion and a P/E ratio of 20.49.

Central Bancompany (NASDAQ:CBC) last announced its quarterly earnings data on Tuesday, October 27th. The company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The firm 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%. On average, analysts expect that Central Bancompany will post 1.90 earnings per share for the current year.

Central Bancompany Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 20th will be issued a dividend of $0.14 per share. 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 currently 29.79%.

Institutional Investors Weigh In On Central Bancompany

Large investors have recently bought and sold shares of the business. CENTRAL TRUST Co raised its position in Central Bancompany by 0.6% in the 3rd quarter. CENTRAL TRUST Co now owns 7,599,224 shares of the company’s stock worth $237,476,000 after buying an additional 48,141 shares during the last quarter. North Reef Capital Management LP boosted its position in Central Bancompany by 210.9% in the first quarter. North Reef Capital Management LP now owns 4,075,000 shares of the company’s stock worth $97,596,000 after purchasing an additional 2,764,327 shares during the last quarter. Royce & Associates LP grew its stake in shares of Central Bancompany by 12.9% during the 3rd quarter. Royce & Associates LP now owns 580,677 shares of the company’s stock valued at $18,146,000 after purchasing an additional 66,565 shares during the period. Bank of America Corp DE increased its position in shares of Central Bancompany by 3,292.1% during the 1st 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. Finally, Quantinno Capital Management LP bought a new position in shares of Central Bancompany in the 1st quarter worth approximately $1,942,000.

About Central Bancompany