Central Bancompany (NASDAQ:CBC) Cut to Equal Weight at Morgan Stanley

by · The Markets Daily

Morgan Stanley cut shares of Central Bancompany (NASDAQ:CBC – Free Report) from an overweight rating to an equal weight rating in a report published on Tuesday, MarketBeat reports. Morgan Stanley currently has $36.00 target price on the stock, up from their prior target price of $35.00.

Several other analysts have also recently commented on CBC. Weiss Ratings upgraded Central Bancompany from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, August 24th. Stephens reaffirmed an “equal weight” rating and set a $35.00 target price (up from $34.00) on shares of Central Bancompany in a research note on Wednesday, August 5th. Keefe, Bruyette & Woods upped their target price on shares of Central Bancompany from $29.00 to $32.00 and gave the stock a “market perform” rating in a report on Wednesday, August 5th. Wall Street Zen cut shares of Central Bancompany from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Finally, Piper Sandler raised their price target on shares of Central Bancompany from $31.00 to $37.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $35.00.

View Our Latest Research Report on CBC

Central Bancompany Trading Up 0.2%

CBC stock opened at $32.12 on Tuesday. Central Bancompany has a 12-month low of $21.99 and a 12-month high of $33.82. The business’s 50-day moving average is $32.23 and its 200 day moving average is $28.42. The stock has a market cap of $7.69 billion and a price-to-earnings ratio of 22.94.

Central Bancompany (NASDAQ:CBC – Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). The business had revenue of $281.72 million during the quarter. As a group, equities analysts forecast that Central Bancompany will post 1.91 EPS for the current fiscal year.

Central Bancompany Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Friday, August 21st were given a dividend of $0.12 per share. The ex-dividend date was Friday, August 21st. This represents a $0.48 dividend on an annualized basis and a yield of 1.5%. Central Bancompany’s dividend payout ratio (DPR) is presently 34.29%.

Institutional Trading of Central Bancompany

Large investors have recently added to or reduced their stakes in the stock. North Reef Capital Management LP increased its stake in shares of Central Bancompany by 210.9% in the 1st quarter. North Reef Capital Management LP now owns 4,075,000 shares of the company’s stock worth $97,596,000 after acquiring an additional 2,764,327 shares during the last quarter. Champlain Investment Partners LLC acquired a new position in shares of Central Bancompany during the 4th quarter valued at about $42,165,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of Central Bancompany in the fourth quarter valued at about $40,790,000. Madison Avenue Partners LP purchased a new stake in shares of Central Bancompany in the fourth quarter valued at about $23,972,000. Finally, Franklin Resources Inc. acquired a new stake in Central Bancompany during the fourth quarter worth about $23,352,000.

About Central Bancompany

(Get Free Report)

Central Bancompany, Inc is a bank holding company headquartered in Jefferson City, Missouri. Through its subsidiary banking organizations, the company provides a range of financial services to individuals, families, businesses and institutions.

Its services generally include personal and business deposit accounts, residential and commercial lending, consumer loans, treasury and cash-management services, online and mobile banking, and related wealth-management and trust services. The company’s community-banking model is designed to serve local customers through branch-based and digital banking channels.

Central Bancompany serves communities primarily in Missouri and surrounding Midwestern markets through its network of affiliated banks and financial-service offices.

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