Shares of Bancolombia S.A. (NYSE:CIB – Get Rating) have been assigned a consensus recommendation of “Buy” from the nine analysts that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $43.80.
A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group raised Bancolombia from a “sell” rating to a “buy” rating and increased their target price for the stock from $27.00 to $45.00 in a research note on Thursday, March 3rd. Itaú Unibanco raised Bancolombia from a “market perform” rating to an “outperform” rating and set a $47.00 target price for the company in a research note on Wednesday, March 23rd. Itau BBA Securities raised Bancolombia from a “market perform” rating to an “outperform” rating and set a $47.00 target price for the company in a research note on Wednesday, March 23rd. JPMorgan Chase & Co. downgraded Bancolombia from an “overweight” rating to a “neutral” rating and set a $46.00 target price for the company. in a research note on Tuesday, April 12th. Finally, Citigroup raised Bancolombia from a “neutral” rating to a “buy” rating in a research note on Tuesday, May 3rd.
CIB opened at $39.75 on Friday. The business has a 50 day moving average price of $40.51 and a two-hundred day moving average price of $36.89. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.62. The company has a market cap of $9.56 billion, a PE ratio of 6.94, a P/E/G ratio of 0.43 and a beta of 1.23. Bancolombia has a 52 week low of $27.64 and a 52 week high of $45.98.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 11th. Investors of record on Wednesday, June 29th will be issued a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 8.30%. The ex-dividend date of this dividend is Tuesday, June 28th. Bancolombia’s dividend payout ratio is currently 52.36%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CIB. Pinebridge Investments L.P. acquired a new stake in shares of Bancolombia in the 1st quarter worth approximately $26,000. Trustcore Financial Services LLC grew its holdings in Bancolombia by 135.7% during the 1st quarter. Trustcore Financial Services LLC now owns 660 shares of the bank’s stock valued at $28,000 after buying an additional 380 shares during the last quarter. Marshall Wace LLP acquired a new stake in Bancolombia during the 4th quarter valued at $33,000. PNC Financial Services Group Inc. grew its holdings in Bancolombia by 13.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,719 shares of the bank’s stock valued at $117,000 after buying an additional 327 shares during the last quarter. Finally, Atlas Capital Advisors LLC grew its holdings in Bancolombia by 530.6% during the 1st quarter. Atlas Capital Advisors LLC now owns 3,582 shares of the bank’s stock valued at $153,000 after buying an additional 3,014 shares during the last quarter. Institutional investors and hedge funds own 3.72% of the company’s stock.
About Bancolombia (Get Rating)
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.
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