Bancolombia S.A. (NYSE:CIB) Receives $31.90 Average Price Target from Brokerages

Bancolombia S.A. (NYSE:CIB) has been assigned an average rating of “Reduce” from the six analysts that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating and five have issued a hold rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $31.90.

CIB has been the subject of a number of research analyst reports. HSBC cut shares of Bancolombia from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. JPMorgan Chase & Co. upped their price target on shares of Bancolombia from $30.00 to $35.00 and gave the stock an “underweight” rating in a report on Tuesday.

Bancolombia Price Performance

Shares of NYSE:CIB opened at $32.65 on Wednesday. Bancolombia has a 1 year low of $23.12 and a 1 year high of $37.15. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.05 and a quick ratio of 1.05. The company’s 50 day simple moving average is $33.49 and its 200 day simple moving average is $30.37.

Bancolombia (NYSE:CIB) last issued its earnings results on Tuesday, February 20th. The bank reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.26. Bancolombia had a return on equity of 18.46% and a net margin of 13.51%. The firm had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.68 billion. Analysts anticipate that Bancolombia will post 5.69 earnings per share for the current fiscal year.

Bancolombia Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Monday, April 1st were given a dividend of $0.8118 per share. The ex-dividend date was Thursday, March 28th. This represents a $3.25 annualized dividend and a yield of 9.95%. Bancolombia’s dividend payout ratio is presently 59.34%.

Institutional Trading of Bancolombia

Several institutional investors have recently modified their holdings of CIB. Atlas Capital Advisors LLC boosted its holdings in Bancolombia by 578.1% in the first quarter. Atlas Capital Advisors LLC now owns 12,368 shares of the bank’s stock valued at $423,000 after acquiring an additional 10,544 shares during the last quarter. Ballentine Partners LLC acquired a new position in shares of Bancolombia in the 1st quarter worth approximately $448,000. Perpetual Ltd boosted its stake in shares of Bancolombia by 122.5% in the 1st quarter. Perpetual Ltd now owns 121,850 shares of the bank’s stock valued at $4,170,000 after purchasing an additional 67,092 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Bancolombia during the fourth quarter worth $619,000. Finally, PNC Financial Services Group Inc. raised its stake in Bancolombia by 6.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 9,644 shares of the bank’s stock worth $297,000 after buying an additional 599 shares during the last quarter.

About Bancolombia

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.