Central Bancompany (NASDAQ:CBC) Price Target Lowered to $29.00 at Morgan Stanley

Central Bancompany (NASDAQ:CBC) had its target price decreased by Morgan Stanley from $31.00 to $29.00 in a research report sent to investors on Tuesday,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

A number of other equities research analysts have also issued reports on the stock. Piper Sandler boosted their price target on shares of Central Bancompany from $28.00 to $30.00 and gave the company an “overweight” rating in a report on Wednesday, January 28th. Zacks Research upgraded shares of Central Bancompany from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 16th. Stephens began coverage on shares of Central Bancompany in a research note on Friday, March 27th. They set an “overweight” rating and a $28.00 target price on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Central Bancompany in a research report on Wednesday, March 25th. Finally, Wall Street Zen downgraded Central Bancompany from a “hold” rating to a “sell” rating in a report on Saturday. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Central Bancompany currently has a consensus rating of “Buy” and a consensus target price of $28.63.

Central Bancompany Price Performance

Shares of NASDAQ:CBC opened at $23.95 on Tuesday. The firm’s fifty day moving average is $24.26. Central Bancompany has a one year low of $21.99 and a one year high of $25.50.

Central Bancompany (NASDAQ:CBC) last posted its quarterly earnings data on Tuesday, January 27th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.01. The company had revenue of $272.23 million for the quarter, compared to analyst estimates of $265.55 million.

Central Bancompany Dividend Announcement

The company also recently disclosed 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. This represents a $0.48 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Friday, February 20th.

Insider Buying and Selling

In other news, CEO John Thomas Ross bought 40,000 shares of the stock in a transaction on Friday, February 6th. The shares were purchased at an average price of $24.50 per share, for a total transaction of $980,000.00. Following the completion of the purchase, the chief executive officer directly owned 82,000 shares of the company’s stock, valued at $2,009,000. This trade represents a 95.24% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Investors Weigh In On Central Bancompany

Several institutional investors have recently made changes to their positions in CBC. Quarry LP bought a new position in 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 4th quarter valued at $51,000. Arax Advisory Partners acquired a new stake in shares of Central Bancompany in the 4th quarter valued at $55,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Central Bancompany in the 4th quarter valued at $210,000. Finally, Summit Financial LLC bought a new stake in Central Bancompany in the fourth quarter worth $243,000.

Central Bancompany Company Profile

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.