Central Bancompany (NASDAQ:CBC) Reaches New 52-Week High – Should You Buy?

Central Bancompany (NASDAQ:CBC)’s share price reached a new 52-week high on Wednesday. The company traded as high as $34.00 and last traded at $33.4320, with a volume of 44,725 shares changing hands. The stock had previously closed at $33.55.

Analyst Ratings Changes

Several research firms recently issued reports on CBC. Stephens reaffirmed an “equal weight” rating and issued a $35.00 price objective (up from $34.00) on shares of Central Bancompany in a research note on Wednesday, August 5th. Keefe, Bruyette & Woods increased their target price on shares of Central Bancompany from $29.00 to $32.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 5th. Morgan Stanley downgraded shares of Central Bancompany from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $35.00 to $36.00 in a research report on Tuesday, September 8th. Wall Street Zen lowered Central Bancompany from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Finally, Weiss Ratings cut Central Bancompany from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $35.00.

Central Bancompany Price Performance

The firm has a market capitalization of $8.00 billion and a P/E ratio of 23.91. The business has a 50 day moving average price of $32.26 and a 200 day moving average price of $30.01.

Central Bancompany (NASDAQ:CBC) last announced its earnings results on Tuesday, August 4th. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.01). The company had revenue of $281.72 million during the quarter. As a group, equities analysts expect that Central Bancompany will post 1.91 EPS for the current year.

Central Bancompany Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 21st were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Friday, August 21st. Central Bancompany’s payout ratio is currently 34.29%.

Institutional Investors Weigh In On Central Bancompany

Several hedge funds have recently modified their holdings of CBC. California State Teachers Retirement System acquired a new position in Central Bancompany during the 1st quarter valued at $26,000. Public Employees Retirement System of Ohio bought a new stake in Central Bancompany in the 2nd quarter valued at $169,000. Keel Point LLC bought a new stake in Central Bancompany in the 1st quarter valued at $201,000. QP Wealth Management LLC acquired a new stake in Central Bancompany in the 3rd quarter worth $371,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Central Bancompany in the 1st quarter worth $359,000.

Central Bancompany Company Profile

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.