Brokerages Set Bancolombia S.A. (NYSE:CIB) Target Price at $31.90

Bancolombia S.A. (NYSE:CIB) has been given a consensus rating of “Reduce” by the six research firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $31.90.

CIB has been the topic of a number of analyst reports. HSBC cut shares of Bancolombia from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. JPMorgan Chase & Co. upped their price target on shares of Bancolombia from $30.00 to $35.00 and gave the company an “underweight” rating in a report on Tuesday, April 16th.

Bancolombia Stock Down 0.3 %

Shares of NYSE CIB opened at $32.60 on Wednesday. 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 has a 12-month low of $23.12 and a 12-month high of $37.15. The firm’s 50-day moving average price is $33.51 and its 200-day moving average price is $30.50. The stock has a market capitalization of $7.84 billion, a price-to-earnings ratio of 5.34 and a beta of 1.23.

Bancolombia (NYSE:CIB) last issued its quarterly earnings data on Tuesday, February 20th. The bank reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.26. The company had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.68 billion. Bancolombia had a return on equity of 18.46% and a net margin of 13.51%. On average, equities research analysts anticipate that Bancolombia will post 5.69 EPS for the current fiscal year.

Bancolombia Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Monday, April 1st were given a $0.8118 dividend. This represents a $3.25 annualized dividend and a yield of 9.96%. The ex-dividend date of this dividend was Thursday, March 28th. Bancolombia’s dividend payout ratio (DPR) is presently 59.34%.

Institutional Trading of Bancolombia

Institutional investors and hedge funds have recently made changes to their positions in the business. Nordea Investment Management AB lifted its holdings in Bancolombia by 52.4% during the 4th quarter. Nordea Investment Management AB now owns 214,223 shares of the bank’s stock valued at $6,613,000 after buying an additional 73,656 shares in the last quarter. Caprock Group LLC raised its stake in shares of Bancolombia by 8.6% during the fourth quarter. Caprock Group LLC now owns 18,059 shares of the bank’s stock valued at $570,000 after acquiring an additional 1,423 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of Bancolombia by 16.3% in the third quarter. Sei Investments Co. now owns 686,161 shares of the bank’s stock valued at $18,307,000 after purchasing an additional 96,247 shares during the period. Citigroup Inc. grew its stake in Bancolombia by 4.9% in the third quarter. Citigroup Inc. now owns 14,297 shares of the bank’s stock worth $381,000 after purchasing an additional 668 shares in the last quarter. Finally, Lesa Sroufe & Co purchased a new position in Bancolombia during the 3rd quarter worth $1,713,000.

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.