Central Bancompany (NASDAQ:CBC) Announces Quarterly Earnings Results

Central Bancompany (NASDAQ:CBC) issued its earnings results on Tuesday. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.44 by $0.02, Zacks reports. The business had revenue of $273.70 million for the quarter, compared to analyst estimates of $267.74 million.

Central Bancompany Price Performance

CBC stock traded up $0.52 during trading on Thursday, hitting $26.71. 90,002 shares of the company traded hands, compared to its average volume of 484,635. Central Bancompany has a 1 year low of $21.99 and a 1 year high of $26.90. The stock has a 50-day moving average of $24.55.

Central Bancompany Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Friday, February 20th were issued a dividend of $0.12 per share. The ex-dividend date was Friday, February 20th. This represents a $0.48 annualized dividend and a yield of 1.8%.

Insiders Place Their Bets

In related news, CEO John Thomas Ross bought 40,000 shares of the company’s stock in a transaction that occurred on Friday, February 6th. The stock was bought at an average cost of $24.50 per share, for a total transaction of $980,000.00. Following the acquisition, the chief executive officer directly owned 82,000 shares of the company’s stock, valued at $2,009,000. The trade was a 95.24% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 65.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Central Bancompany

A number of large investors have recently made changes to their positions in the business. Quarry LP bought a new position in shares of Central Bancompany during the fourth quarter valued at approximately $26,000. PNC Financial Services Group Inc. bought a new position in shares of Central Bancompany during the fourth quarter valued at approximately $51,000. Arax Advisory Partners bought a new position in shares of Central Bancompany during the fourth quarter valued at approximately $55,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of Central Bancompany during the fourth quarter valued at approximately $210,000. Finally, Summit Financial LLC bought a new position in shares of Central Bancompany during the fourth quarter valued at approximately $243,000.

Analysts Set New Price Targets

CBC has been the subject of several research reports. Stephens increased their target price on Central Bancompany from $28.00 to $30.00 and gave the company an “overweight” rating in a research report on Wednesday. Weiss Ratings cut Central Bancompany from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday. Zacks Research cut Central Bancompany from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 8th. Morgan Stanley cut their price target on Central Bancompany from $31.00 to $29.00 and set an “overweight” rating on the stock in a report on Tuesday, March 31st. Finally, Wall Street Zen lowered Central Bancompany from a “hold” rating to a “sell” rating in a report on Saturday, March 28th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Central Bancompany has a consensus rating of “Moderate Buy” and an average target price of $29.50.

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.