Analysts Set Bancolombia S.A. (NYSE:CIB) PT at $31.90

Shares of Bancolombia S.A. (NYSE:CIB) have been given an average rating of “Reduce” by the six brokerages that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $31.90.

A number of analysts recently commented on the company. HSBC lowered Bancolombia from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. JPMorgan Chase & Co. lifted their target price on shares of Bancolombia from $30.00 to $35.00 and gave the company an “underweight” rating in a research note on Tuesday, April 16th.

Bancolombia Price Performance

CIB stock opened at $32.60 on Wednesday. The stock has a market capitalization of $7.84 billion, a price-to-earnings ratio of 5.34 and a beta of 1.23. The firm’s 50-day moving average price is $33.51 and its two-hundred day moving average price is $30.50. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.38. Bancolombia has a 12-month low of $23.12 and a 12-month high of $37.15.

Bancolombia (NYSE:CIB) last released its quarterly earnings results on Tuesday, February 20th. The bank reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.26. The business had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.68 billion. Bancolombia had a return on equity of 18.46% and a net margin of 13.51%. As a group, equities analysts predict that Bancolombia will post 5.69 earnings per share for the current year.

Bancolombia Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Monday, April 1st were given a dividend of $0.8118 per share. This represents a $3.25 annualized dividend and a yield of 9.96%. The ex-dividend date was Thursday, March 28th. Bancolombia’s dividend payout ratio is currently 59.34%.

Institutional Trading of Bancolombia

A number of hedge funds and other institutional investors have recently modified their holdings of CIB. Greenleaf Trust increased its stake in shares of Bancolombia by 3.1% during the third quarter. Greenleaf Trust now owns 12,743 shares of the bank’s stock valued at $340,000 after purchasing an additional 379 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in Bancolombia by 7.4% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 8,521 shares of the bank’s stock valued at $227,000 after buying an additional 585 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Bancolombia by 6.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 9,644 shares of the bank’s stock worth $297,000 after acquiring an additional 599 shares in the last quarter. BSW Wealth Partners grew its stake in shares of Bancolombia by 4.8% in the fourth quarter. BSW Wealth Partners now owns 13,619 shares of the bank’s stock worth $419,000 after acquiring an additional 623 shares during the last quarter. Finally, Citigroup Inc. increased its holdings in shares of Bancolombia by 4.9% during the third quarter. Citigroup Inc. now owns 14,297 shares of the bank’s stock valued at $381,000 after acquiring an additional 668 shares in the last quarter.

Bancolombia Company Profile

Bancolombia SA, together with its subsidiaries, provides banking products and services in Colombia and internationally. The company operates through nine segments: Banking Colombia, Banking Panama, Banking El Salvador, Banking Guatemala, Trust, Investment Banking, Brokerage, International Banking, and All Other.