Bancolombia (NYSE:CIB) Sets New 1-Year High – Time to Buy?

Shares of Bancolombia S.A. (NYSE:CIB) reached a new 52-week high during trading on Friday . The company traded as high as $40.95 and last traded at $40.56, with a volume of 39561 shares traded. The stock had previously closed at $40.32.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley raised Bancolombia from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $40.00 to $53.00 in a report on Tuesday, January 28th.

Bancolombia Price Performance

The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $9.76 billion, a PE ratio of 6.44, a P/E/G ratio of 2.27 and a beta of 1.22. The company has a fifty day moving average price of $34.31 and a two-hundred day moving average price of $33.02.

Bancolombia Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 30th were given a $0.8044 dividend. This represents a $3.22 annualized dividend and a yield of 7.92%. The ex-dividend date of this dividend was Monday, December 30th. Bancolombia’s dividend payout ratio (DPR) is presently 50.71%.

Hedge Funds Weigh In On Bancolombia

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Truffle Hound Capital LLC purchased a new stake in Bancolombia in the 4th quarter valued at approximately $11,028,000. GQG Partners LLC acquired a new stake in Bancolombia in the 4th quarter valued at $9,724,000. Ranmore Fund Management Ltd acquired a new stake in Bancolombia in the 4th quarter valued at $8,284,000. Wellington Management Group LLP acquired a new stake in Bancolombia in the 3rd quarter valued at $8,208,000. Finally, Robeco Institutional Asset Management B.V. increased its holdings in Bancolombia by 12.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,323,482 shares of the bank’s stock valued at $41,531,000 after purchasing an additional 150,022 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.