Bancolombia (NYSE:CIB) Sets New 1-Year High – What’s Next?

Bancolombia S.A. (NYSE:CIB) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $44.31 and last traded at $44.31, with a volume of 25502 shares changing hands. The stock had previously closed at $43.88.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CIB. The Goldman Sachs Group raised their price target on shares of Bancolombia from $31.00 to $35.00 and gave the company a “sell” rating in a report on Monday, February 24th. Morgan Stanley upgraded Bancolombia from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $40.00 to $53.00 in a research report on Tuesday, January 28th.

Bancolombia Stock Performance

The stock’s 50 day moving average is $39.96 and its two-hundred day moving average is $34.93. The firm has a market capitalization of $10.78 billion, a P/E ratio of 7.12, a P/E/G ratio of 2.47 and a beta of 1.22. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.05 and a quick ratio of 1.00.

Bancolombia (NYSE:CIB) last issued its earnings results on Thursday, February 20th. The bank reported $1.57 EPS for the quarter, beating the consensus estimate of $1.35 by $0.22. The company had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Bancolombia had a net margin of 14.14% and a return on equity of 14.61%. As a group, equities analysts anticipate that Bancolombia S.A. will post 6 earnings per share for the current fiscal year.

Bancolombia Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Monday, March 31st will be paid a $3.8119 dividend. This is a positive change from Bancolombia’s previous quarterly dividend of $0.80. The ex-dividend date is Monday, March 31st. This represents a $15.25 annualized dividend and a yield of 34.01%. Bancolombia’s dividend payout ratio is presently 241.90%.

Hedge Funds Weigh In On Bancolombia

Several institutional investors have recently modified their holdings of the stock. Thrivent Financial for Lutherans boosted its stake in Bancolombia by 13.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 70,678 shares of the bank’s stock worth $2,218,000 after acquiring an additional 8,477 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Bancolombia by 7.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 128,546 shares of the bank’s stock worth $4,034,000 after purchasing an additional 8,432 shares in the last quarter. Walleye Capital LLC acquired a new position in shares of Bancolombia in the 3rd quarter valued at $1,250,000. Centiva Capital LP bought a new stake in shares of Bancolombia in the 3rd quarter valued at $288,000. Finally, Point72 Asset Management L.P. raised its stake in Bancolombia by 3,160.0% during the 3rd quarter. Point72 Asset Management L.P. now owns 16,300 shares of the bank’s stock worth $511,000 after buying an additional 15,800 shares during the period.

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.