Bancolombia S.A. (NYSE:CIB) Receives $43.80 Consensus Price Target from Brokerages

Bancolombia S.A. (NYSE:CIB – Get Rating) has received a consensus rating of “Moderate Buy” from the eight analysts that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $44.00.

A number of research analysts have recently commented on CIB shares. Citigroup upgraded Bancolombia from a “neutral” rating to a “buy” rating in a report on Tuesday, May 3rd. TheStreet downgraded Bancolombia from a “b-” rating to a “c+” rating in a research note on Wednesday, July 27th. JPMorgan Chase & Co. downgraded Bancolombia from an “overweight” rating to a “neutral” rating and set a $46.00 price target on the stock. in a research note on Tuesday, April 12th. Finally, Credit Suisse Group upgraded Bancolombia from a “neutral” rating to an “outperform” rating and set a $35.00 price target on the stock in a research note on Tuesday.

Bancolombia Trading Up 1.0 %

CIB opened at $29.23 on Friday. Bancolombia has a one year low of $26.27 and a one year high of $45.98. The company has a market cap of $7.03 billion, a P/E ratio of 5.10, a PEG ratio of 0.27 and a beta of 1.27. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.04 and a current ratio of 1.04. The business’s 50-day simple moving average is $33.70 and its 200-day simple moving average is $36.65.

Bancolombia (NYSE:CIB – Get Rating) last released its quarterly earnings data on Wednesday, May 11th. The bank reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.75. Bancolombia had a return on equity of 14.28% and a net margin of 22.87%. The business had revenue of $1.35 billion for the quarter. As a group, equities research analysts expect that Bancolombia will post 6.15 EPS for the current fiscal year.

Bancolombia Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 11th. Shareholders of record on Wednesday, June 29th were paid a $0.825 dividend. The ex-dividend date was Tuesday, June 28th. This represents a $3.30 annualized dividend and a dividend yield of 11.29%. Bancolombia’s dividend payout ratio (DPR) is currently 45.38%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Bancolombia by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 3,947,191 shares of the bank’s stock valued at $168,387,000 after purchasing an additional 45,272 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Bancolombia by 25.1% in the 1st quarter. BlackRock Inc. now owns 2,227,183 shares of the bank’s stock valued at $95,011,000 after buying an additional 446,778 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of Bancolombia in the 4th quarter valued at approximately $29,536,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Bancolombia in the 4th quarter valued at approximately $16,709,000. Finally, Moneda S.A. Administradora General de Fondos lifted its holdings in shares of Bancolombia by 2,317.0% in the 2nd quarter. Moneda S.A. Administradora General de Fondos now owns 291,243 shares of the bank’s stock valued at $8,979,000 after buying an additional 279,193 shares during the period. 3.72% of the stock is currently owned by hedge funds and other institutional investors.

Bancolombia Company Profile

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Bancolombia SA provides banking products and services in Colombia, Panama, Puerto Rico, El Salvador, Costa Rica, and Guatemala. The company operates through nine segments: Banking Colombia, Banking Panama, Banking El Salvador, Banking Guatemala, Trust, Investment Banking, Brokerage, International Banking, and All Other.