Bancolombia (NYSE:CIB) Reaches New 52-Week High – What’s Next?

Bancolombia S.A. (NYSE:CIB)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $44.31 and last traded at $44.31, with a volume of 25502 shares changing hands. The stock had previously closed at $43.88.

Analysts Set New Price Targets

Several research analysts recently issued reports on CIB shares. Morgan Stanley upgraded shares of Bancolombia from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $40.00 to $53.00 in a research report on Tuesday, January 28th. The Goldman Sachs Group increased their price objective on Bancolombia from $31.00 to $35.00 and gave the company a “sell” rating in a research report on Monday, February 24th.

Bancolombia Price Performance

The firm’s 50 day simple moving average is $40.43 and its two-hundred day simple moving average is $35.05. The firm has a market capitalization of $10.53 billion, a P/E ratio of 6.95, a P/E/G ratio of 2.47 and a beta of 1.22. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.05 and a quick ratio of 1.00.

Bancolombia (NYSE:CIB) last issued its earnings results on Thursday, February 20th. The bank reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.22. The company had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Bancolombia had a return on equity of 14.61% and a net margin of 14.14%. As a group, analysts predict that Bancolombia S.A. will post 6 earnings per share for the current year.

Bancolombia Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Monday, March 31st will be issued a $3.8119 dividend. This represents a $15.25 dividend on an annualized basis and a yield of 34.83%. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from Bancolombia’s previous quarterly dividend of $0.80. Bancolombia’s dividend payout ratio (DPR) is 241.90%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Lindbrook Capital LLC increased its stake in shares of Bancolombia by 74.7% during the fourth quarter. Lindbrook Capital LLC now owns 968 shares of the bank’s stock valued at $31,000 after buying an additional 414 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Bancolombia by 41.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,246 shares of the bank’s stock valued at $72,000 after acquiring an additional 657 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Bancolombia during the 4th quarter valued at $89,000. R Squared Ltd bought a new position in Bancolombia in the 4th quarter worth $121,000. Finally, V Square Quantitative Management LLC lifted its position in shares of Bancolombia by 126.1% in the 4th quarter. V Square Quantitative Management LLC now owns 5,288 shares of the bank’s stock worth $169,000 after purchasing an additional 2,949 shares during the period.

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.