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

Bancolombia S.A. (NYSE:CIB) has received an average rating of “Reduce” from the six ratings firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $31.90.

Several brokerages have recently issued reports on CIB. HSBC lowered Bancolombia from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. JPMorgan Chase & Co. upped their price target on Bancolombia from $30.00 to $35.00 and gave the company an “underweight” rating in a research note on Tuesday, April 16th.

Hedge Funds Weigh In On Bancolombia

Hedge funds have recently added to or reduced their stakes in the stock. Qube Research & Technologies Ltd acquired a new position in Bancolombia in the third quarter valued at about $27,000. FMR LLC lifted its stake in Bancolombia by 185.2% in the third quarter. FMR LLC now owns 1,423 shares of the bank’s stock valued at $38,000 after buying an additional 924 shares during the period. Parallel Advisors LLC lifted its stake in Bancolombia by 164.9% in the fourth quarter. Parallel Advisors LLC now owns 2,069 shares of the bank’s stock valued at $64,000 after buying an additional 1,288 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Bancolombia by 13.7% in the first quarter. PNC Financial Services Group Inc. now owns 2,719 shares of the bank’s stock worth $117,000 after acquiring an additional 327 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of Bancolombia by 1,934.4% during the second quarter. Tower Research Capital LLC TRC now owns 3,072 shares of the bank’s stock worth $82,000 after purchasing an additional 2,921 shares during the period.

Bancolombia Trading Up 1.2 %

Bancolombia stock opened at $32.65 on Wednesday. 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 business’s fifty day moving average is $33.49 and its two-hundred day moving average is $30.44. Bancolombia has a 52 week low of $23.12 and a 52 week high of $37.15.

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

Bancolombia Cuts Dividend

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

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.