Bancolombia (NYSE:CIB) Price Target Raised to $35.00

Bancolombia (NYSE:CIB) had its price target raised by JPMorgan Chase & Co. from $30.00 to $35.00 in a report published on Tuesday, Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the bank’s stock.

Separately, HSBC downgraded shares of Bancolombia from a buy rating to a hold rating in a research note on Monday, January 8th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $31.90.

Bancolombia Stock Performance

Shares of CIB stock opened at $32.27 on Tuesday. The company’s fifty day simple moving average is $33.46 and its 200-day simple moving average is $30.32. Bancolombia has a 52 week low of $23.12 and a 52 week high of $37.15. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.38. The company has a market cap of $7.76 billion, a PE ratio of 5.29 and a beta of 1.23.

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

Bancolombia Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Monday, April 1st were paid a dividend of $0.8118 per share. This represents a $3.25 annualized dividend and a yield of 10.06%. The ex-dividend date of this dividend was Thursday, March 28th. Bancolombia’s dividend payout ratio (DPR) is 59.34%.

Institutional Investors Weigh In On Bancolombia

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CIB. Qube Research & Technologies Ltd purchased a new stake in Bancolombia during the 3rd quarter worth $27,000. FMR LLC increased its stake in Bancolombia by 185.2% during the 3rd quarter. FMR LLC now owns 1,423 shares of the bank’s stock worth $38,000 after buying an additional 924 shares during the period. Parallel Advisors LLC increased its stake in Bancolombia by 164.9% during the 4th quarter. Parallel Advisors LLC now owns 2,069 shares of the bank’s stock worth $64,000 after buying an additional 1,288 shares during the period. Tower Research Capital LLC TRC grew its holdings in Bancolombia by 1,934.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,072 shares of the bank’s stock worth $82,000 after acquiring an additional 2,921 shares in the last quarter. Finally, US Bancorp DE grew its holdings in Bancolombia by 21.9% during the 4th quarter. US Bancorp DE now owns 3,393 shares of the bank’s stock worth $104,000 after acquiring an additional 609 shares in the last quarter.

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.