Brokerages Set BanColombia S.A. (CIB) PT at $44.33
BanColombia S.A. (NYSE:CIB) has been assigned a consensus recommendation of “Hold” from the nine brokerages that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $44.33.
Several research analysts have commented on the stock. Zacks Investment Research cut shares of BanColombia from a “buy” rating to a “hold” rating in a report on Friday, June 9th. J P Morgan Chase & Co reiterated a “neutral” rating and issued a $41.00 target price (down from $42.00) on shares of BanColombia in a report on Monday, June 5th. BidaskClub upgraded shares of BanColombia from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 1st. Credit Suisse Group set a $45.00 target price on shares of BanColombia and gave the stock a “hold” rating in a report on Wednesday, May 24th. Finally, Standpoint Research cut shares of BanColombia from a “buy” rating to a “hold” rating in a report on Monday, May 22nd.
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Several institutional investors have recently added to or reduced their stakes in CIB. Russell Investments Group Ltd. increased its stake in shares of BanColombia by 89.2% in the second quarter. Russell Investments Group Ltd. now owns 1,087,266 shares of the bank’s stock valued at $48,434,000 after buying an additional 512,600 shares during the last quarter. GMT Capital Corp increased its stake in shares of BanColombia by 84.7% in the first quarter. GMT Capital Corp now owns 1,050,472 shares of the bank’s stock valued at $41,882,000 after buying an additional 481,800 shares during the last quarter. Teachers Advisors LLC bought a new stake in shares of BanColombia during the fourth quarter valued at about $13,267,000. Driehaus Capital Management LLC bought a new stake in shares of BanColombia during the first quarter valued at about $12,394,000. Finally, FMR LLC increased its stake in shares of BanColombia by 24.5% in the first quarter. FMR LLC now owns 1,446,421 shares of the bank’s stock valued at $57,669,000 after buying an additional 284,460 shares during the last quarter. 16.06% of the stock is currently owned by institutional investors.
The company also recently declared a special dividend, which was paid on Friday, July 14th. Stockholders of record on Wednesday, July 5th were given a $0.3116 dividend. This represents a dividend yield of 3.1%. The ex-dividend date was Friday, June 30th. BanColombia’s dividend payout ratio is 26.62%.
Bancolombia SA (Bancolombia) is a financial institution engaged in providing a range of financial products and services to a diversified individual, corporate, and government customer base throughout Colombia, Latin America and the Caribbean region. The Bank operates through 10 segments: Banking Colombia, Banking Panama, Banking El Salvador, Leasing, Trust, Investment Banking, Brokerage, Off Shore and All other.
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