Bancolombia (NYSE:CIB) Stock Passes Above 200-Day Moving Average of $37.19

Bancolombia S.A. (NYSE:CIBGet Rating) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $37.19 and traded as high as $38.01. Bancolombia shares last traded at $37.50, with a volume of 58,437 shares traded.

Several brokerages have issued reports on CIB. Itau BBA Securities upgraded Bancolombia from a “market perform” rating to an “outperform” rating and set a $47.00 target price for the company in a report on Wednesday, March 23rd. Itaú Unibanco upgraded Bancolombia from a “market perform” rating to an “outperform” rating and set a $47.00 target price for the company in a report on Wednesday, March 23rd. Bank of America upgraded Bancolombia from an “underperform” rating to a “buy” rating in a report on Wednesday, February 23rd. The Goldman Sachs Group upgraded Bancolombia from a “sell” rating to a “buy” rating and upped their target price for the company from $27.00 to $45.00 in a report on Thursday, March 3rd. Finally, Citigroup upgraded Bancolombia from a “neutral” rating to a “buy” rating in a report on Tuesday, May 3rd. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $43.80.

The company has a 50 day moving average price of $39.89 and a 200 day moving average price of $37.19. The firm has a market cap of $9.02 billion, a price-to-earnings ratio of 6.54, a price-to-earnings-growth ratio of 0.36 and a beta of 1.23. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.04 and a current ratio of 1.04.

Bancolombia (NYSE:CIBGet Rating) last announced its quarterly earnings results on Wednesday, May 11th. The bank reported $1.92 EPS for the quarter, beating the consensus estimate 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. On average, research analysts forecast that Bancolombia S.A. will post 6.04 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 11th. Investors of record on Wednesday, June 29th will be paid a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a yield of 8.80%. The ex-dividend date is Tuesday, June 28th. Bancolombia’s payout ratio is 52.36%.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Signaturefd LLC lifted its stake in Bancolombia by 4.4% during the 1st quarter. Signaturefd LLC now owns 6,220 shares of the bank’s stock worth $265,000 after acquiring an additional 264 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Bancolombia by 13.7% during the 1st 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. Trustcore Financial Services LLC increased its holdings in Bancolombia by 135.7% during the 1st quarter. Trustcore Financial Services LLC now owns 660 shares of the bank’s stock worth $28,000 after purchasing an additional 380 shares during the period. Veriti Management LLC increased its holdings in Bancolombia by 2.6% during the 4th quarter. Veriti Management LLC now owns 17,110 shares of the bank’s stock worth $541,000 after purchasing an additional 435 shares during the period. Finally, Advisor Group Holdings Inc. increased its holdings in Bancolombia by 12.0% during the 1st quarter. Advisor Group Holdings Inc. now owns 5,173 shares of the bank’s stock worth $221,000 after purchasing an additional 553 shares during the period. 3.72% of the stock is currently owned by hedge funds and other institutional investors.

Bancolombia Company Profile (NYSE:CIB)

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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