Central Bancompany (NASDAQ:CBC) Sets New 1-Year High Following Dividend Announcement

by · The Markets Daily

Central Bancompany (NASDAQ:CBC – Get Free Report)’s stock price reached a new 52-week high during mid-day trading on Tuesday following a dividend announcement from the company. The stock traded as high as $37.30 and last traded at $37.3450, with a volume of 55,109 shares changing hands. The stock had previously closed at $36.85.

The newly announced dividend which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 20th will be paid a $0.14 dividend. The ex-dividend date is Friday, November 20th. This represents a $0.56 dividend on an annualized basis and a yield of 1.5%. This is an increase from Central Bancompany’s previous quarterly dividend of $0.12. Central Bancompany’s payout ratio is currently 25.53%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Morgan Stanley lowered shares of Central Bancompany from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $35.00 to $36.00 in a research report on Tuesday, September 8th. Wall Street Zen lowered shares of Central Bancompany from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Keefe, Bruyette & Woods upped their price target 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. Piper Sandler increased their price objective on shares of Central Bancompany from $37.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, October 28th. Finally, Stephens lowered shares of Central Bancompany from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $34.00 to $35.00 in a report on Wednesday, August 5th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Central Bancompany presently has an average rating of “Hold” and a consensus target price of $35.90.

View Our Latest Stock Analysis on CBC

Central Bancompany Stock Performance

The business has a 50 day moving average of $33.02 and a two-hundred day moving average of $28.91. The stock has a market capitalization of $8.96 billion and a PE ratio of 19.89.

Central Bancompany (NASDAQ:CBC – Get Free Report) last posted its earnings results on Tuesday, October 27th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.01). The company had revenue of $285.43 million during the quarter. Central Bancompany had a net margin of 34.30% and a return on equity of 11.74%. On average, equities analysts expect that Central Bancompany will post 1.90 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. North Reef Capital Management LP boosted its stake 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 valued at $97,596,000 after acquiring an additional 2,764,327 shares in the last quarter. Bank of America Corp DE grew its holdings in Central Bancompany by 3,292.1% in the first quarter. Bank of America Corp DE now owns 128,220 shares of the company’s stock worth $3,071,000 after purchasing an additional 124,440 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Central Bancompany by 2.1% during the second quarter. Sequoia Financial Advisors LLC now owns 76,582 shares of the company’s stock worth $2,327,000 after purchasing an additional 1,582 shares in the last quarter. Quantinno Capital Management LP acquired a new position in shares of Central Bancompany during the first quarter worth $1,942,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Central Bancompany during the second quarter worth $1,243,000.

About Central Bancompany

(Get Free Report)

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.

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