Bancolombia (NYSE:CIB) Hits New 12-Month High – Still a Buy?

Bancolombia S.A. (NYSE:CIB) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $39.73 and last traded at $38.79, with a volume of 221229 shares. The stock had previously closed at $36.88.

Wall Street Analyst Weigh In

Separately, Morgan Stanley upgraded shares of Bancolombia from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $40.00 to $53.00 in a report on Tuesday.

Bancolombia Price Performance

The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market cap of $9.33 billion, a PE ratio of 6.16, a PEG ratio of 1.87 and a beta of 1.20. The company’s 50-day simple moving average is $32.69 and its 200 day simple moving average is $32.51.

Bancolombia Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 30th were given a dividend of $0.8044 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a $3.22 annualized dividend and a dividend yield of 8.29%. Bancolombia’s dividend payout ratio (DPR) is currently 50.71%.

Institutional Investors Weigh In On Bancolombia

Several institutional investors have recently modified their holdings of the company. Measured Wealth Private Client Group LLC lifted its position in shares of Bancolombia by 6.4% during the 3rd quarter. Measured Wealth Private Client Group LLC now owns 7,800 shares of the bank’s stock worth $245,000 after purchasing an additional 471 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Bancolombia by 96.5% during the 3rd quarter. Blue Trust Inc. now owns 1,305 shares of the bank’s stock worth $43,000 after purchasing an additional 641 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Bancolombia by 41.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,246 shares of the bank’s stock worth $72,000 after purchasing an additional 657 shares during the last quarter. Ballentine Partners LLC lifted its position in shares of Bancolombia by 6.5% during the 4th quarter. Ballentine Partners LLC now owns 11,209 shares of the bank’s stock worth $353,000 after purchasing an additional 680 shares during the last quarter. Finally, US Bancorp DE lifted its position in shares of Bancolombia by 18.9% during the 3rd quarter. US Bancorp DE now owns 5,282 shares of the bank’s stock worth $166,000 after purchasing an additional 839 shares during 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.