Bancolombia S.A. (NYSE:CIB) Receives Average Rating of “Reduce” from Analysts

Bancolombia S.A. (NYSE:CIB) has earned a consensus rating of “Reduce” from the six research firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $31.90.

A number of analysts have recently weighed in on CIB shares. JPMorgan Chase & Co. raised their price objective on Bancolombia from $30.00 to $35.00 and gave the stock an “underweight” rating in a research report on Tuesday. HSBC cut Bancolombia from a “buy” rating to a “hold” rating in a research report on Monday, January 8th.

Hedge Funds Weigh In On Bancolombia

Several institutional investors and hedge funds have recently modified their holdings of CIB. Advisor Group Holdings Inc. increased its stake 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 buying an additional 553 shares in the last quarter. American Century Companies Inc. increased its stake in Bancolombia by 14.2% during the 1st quarter. American Century Companies Inc. now owns 16,862 shares of the bank’s stock worth $719,000 after buying an additional 2,099 shares in the last quarter. US Bancorp DE increased its stake in Bancolombia by 7.7% during the 1st quarter. US Bancorp DE now owns 8,982 shares of the bank’s stock worth $383,000 after buying an additional 643 shares in the last quarter. PNC Financial Services Group Inc. increased 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 buying an additional 327 shares in the last quarter. Finally, BlackRock Inc. increased its stake in Bancolombia by 25.1% during the 1st quarter. BlackRock Inc. now owns 2,227,183 shares of the bank’s stock worth $95,011,000 after buying an additional 446,778 shares in the last quarter.

Bancolombia Price Performance

Shares of NYSE:CIB opened at $33.52 on Wednesday. Bancolombia has a 12-month low of $23.12 and a 12-month high of $37.15. The business’s fifty day simple moving average is $33.42 and its 200-day simple moving average is $30.29. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.38.

Bancolombia (NYSE:CIB) last announced its quarterly earnings results on Tuesday, February 20th. The bank reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $1.68 billion. On average, analysts expect that Bancolombia will post 5.69 earnings per share for the current year.

Bancolombia Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Monday, April 1st were paid a $0.8118 dividend. The ex-dividend date was Thursday, March 28th. This represents a $3.25 annualized dividend and a dividend yield of 9.69%. Bancolombia’s dividend payout ratio is presently 59.84%.

About Bancolombia

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.