Central Bancompany (NASDAQ:CBC) Cut to Hold at Zacks Research

Zacks Research downgraded shares of Central Bancompany (NASDAQ:CBC) from a strong-buy rating to a hold rating in a research note released on Wednesday,Zacks.com reports.

A number of other brokerages have also weighed in on CBC. Piper Sandler increased their price objective on Central Bancompany from $28.00 to $30.00 and gave the company an “overweight” rating in a report on Wednesday, January 28th. Weiss Ratings reissued a “buy (b-)” rating on shares of Central Bancompany in a report on Wednesday, March 25th. Wall Street Zen lowered Central Bancompany from a “hold” rating to a “sell” rating in a report on Saturday, March 28th. Keefe, Bruyette & Woods increased their price objective on Central Bancompany from $26.00 to $27.50 and gave the company a “market perform” rating in a report on Wednesday, January 28th. Finally, Morgan Stanley cut their price objective on Central Bancompany from $31.00 to $29.00 and set an “overweight” rating on the stock in a report on Tuesday, March 31st. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $28.63.

Central Bancompany Price Performance

Central Bancompany stock opened at $24.70 on Wednesday. The company has a 50-day simple moving average of $24.27. Central Bancompany has a one year low of $21.99 and a one year high of $25.51.

Central Bancompany (NASDAQ:CBC) last released its quarterly earnings results on Tuesday, January 27th. The company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.01. The business had revenue of $272.23 million during the quarter, compared to analysts’ expectations of $265.55 million.

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. This represents a $0.48 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Friday, February 20th.

Insider Buying and Selling

In other Central Bancompany news, CEO John Thomas Ross acquired 40,000 shares of the company’s stock in a transaction on Friday, February 6th. The shares were bought at an average cost of $24.50 per share, with a total value of $980,000.00. Following the completion of the acquisition, the chief executive officer owned 82,000 shares in the company, valued at approximately $2,009,000. This trade represents a 95.24% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Hedge Funds Weigh In On Central Bancompany

A number of institutional investors have recently added to or reduced their stakes in the stock. CENTRAL TRUST Co purchased a new position in Central Bancompany during the fourth quarter worth approximately $176,998,000. Champlain Investment Partners LLC acquired a new stake in shares of Central Bancompany in the fourth quarter valued at $42,165,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of Central Bancompany in the fourth quarter valued at $40,790,000. Massachusetts Financial Services Co. MA acquired a new stake in shares of Central Bancompany in the fourth quarter valued at $31,779,000. Finally, North Reef Capital Management LP acquired a new position in Central Bancompany during the 4th quarter worth $31,613,000.

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.