Bancolombia (NYSE:CIB) Reaches New 1-Year High on Strong Earnings

Bancolombia S.A. (NYSE:CIB)’s share price hit a new 52-week high during trading on Thursday following a better than expected earnings announcement. The company traded as high as $41.55 and last traded at $41.49, with a volume of 344373 shares changing hands. The stock had previously closed at $41.09.

The bank reported $1.57 EPS for the quarter, beating the consensus estimate of $1.35 by $0.22. Bancolombia had a net margin of 13.46% and a return on equity of 14.75%. The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.41 billion.

Wall Street Analyst Weigh In

Separately, Morgan Stanley raised Bancolombia from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $40.00 to $53.00 in a research report on Tuesday, January 28th.

Institutional Trading of Bancolombia

Several institutional investors have recently made changes to their positions in the stock. Venturi Wealth Management LLC purchased a new stake in Bancolombia in the 3rd quarter worth approximately $27,000. Lindbrook Capital LLC increased its stake in shares of Bancolombia by 74.7% in the fourth quarter. Lindbrook Capital LLC now owns 968 shares of the bank’s stock worth $31,000 after acquiring an additional 414 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Bancolombia by 96.5% during the third quarter. Blue Trust Inc. now owns 1,305 shares of the bank’s stock worth $43,000 after acquiring an additional 641 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Bancolombia by 41.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,246 shares of the bank’s stock valued at $72,000 after purchasing an additional 657 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in Bancolombia in the fourth quarter valued at about $89,000.

Bancolombia Stock Performance

The firm has a 50-day simple moving average of $35.50 and a two-hundred day simple moving average of $33.46. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $10.29 billion, a price-to-earnings ratio of 6.78, a price-to-earnings-growth ratio of 2.36 and a beta of 1.22.

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.