Bancolombia S.A. (NYSE:CIB) Receives $33.32 Average PT from Brokerages

Shares of Bancolombia S.A. (NYSE:CIB) have received an average rating of “Reduce” from the six research firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $33.32.

Several analysts have recently commented on CIB shares. Bank of America began coverage on Bancolombia in a research note on Thursday, May 2nd. They issued a “neutral” rating and a $38.00 target price for the company. JPMorgan Chase & Co. raised their price objective on Bancolombia from $35.00 to $36.00 and gave the company an “underweight” rating in a research note on Wednesday, July 10th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Leith Wheeler Investment Counsel Ltd. bought a new position in Bancolombia during the 1st quarter valued at $1,519,000. Capital Wealth Planning LLC bought a new position in shares of Bancolombia during the first quarter valued at about $2,080,000. Gladstone Institutional Advisory LLC purchased a new position in Bancolombia during the fourth quarter worth about $218,000. Ballentine Partners LLC bought a new stake in Bancolombia in the 1st quarter worth about $448,000. Finally, PNC Financial Services Group Inc. increased its stake in Bancolombia by 6.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 9,644 shares of the bank’s stock valued at $297,000 after buying an additional 599 shares during the last quarter.

Bancolombia Price Performance

Shares of CIB opened at $32.60 on Friday. Bancolombia has a 52-week low of $24.15 and a 52-week high of $37.85. The business’s 50 day moving average price is $33.84 and its two-hundred day moving average price is $33.45. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.04 and a quick ratio of 1.04.

Bancolombia (NYSE:CIB) last released its earnings results on Thursday, May 9th. The bank reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.33. The company had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $1.81 billion. Bancolombia had a net margin of 13.64% and a return on equity of 17.33%. During the same quarter in the previous year, the company earned $1.54 EPS. Research analysts forecast that Bancolombia will post 6.02 EPS for the current year.

Bancolombia Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Thursday, June 27th were issued a dividend of $0.898 per share. This is a positive change from Bancolombia’s previous quarterly dividend of $0.81. This represents a $3.59 dividend on an annualized basis and a yield of 11.02%. The ex-dividend date of this dividend was Thursday, June 27th. Bancolombia’s payout ratio is currently 53.77%.

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.