Bancolombia S.A. (NYSE:CIB) Receives $30.65 Consensus Target Price from Analysts

Shares of Bancolombia S.A. (NYSE:CIB) have earned an average recommendation of “Reduce” from the six brokerages that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $30.65.

Separately, HSBC cut shares of Bancolombia from a “buy” rating to a “hold” rating in a report on Monday, January 8th.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CIB. PNC Financial Services Group Inc. grew its holdings in shares of Bancolombia by 13.7% during the first quarter. PNC Financial Services Group Inc. now owns 2,719 shares of the bank’s stock worth $117,000 after buying an additional 327 shares during the last quarter. Greenleaf Trust increased its holdings in shares of Bancolombia by 3.1% in the third quarter. Greenleaf Trust now owns 12,743 shares of the bank’s stock valued at $340,000 after purchasing an additional 379 shares during the period. US Bancorp DE raised its stake in shares of Bancolombia by 25.0% during the second quarter. US Bancorp DE now owns 2,262 shares of the bank’s stock worth $60,000 after purchasing an additional 453 shares during the last quarter. Advisor Group Holdings Inc. lifted its holdings in shares of Bancolombia by 12.0% during the first quarter. Advisor Group Holdings Inc. now owns 5,173 shares of the bank’s stock worth $221,000 after purchasing an additional 553 shares during the period. Finally, UBS Group AG grew its position in Bancolombia by 2.8% in the 4th quarter. UBS Group AG now owns 20,509 shares of the bank’s stock valued at $585,000 after buying an additional 558 shares during the last quarter.

Bancolombia Stock Performance

Shares of NYSE:CIB opened at $34.98 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.38. Bancolombia has a fifty-two week low of $23.12 and a fifty-two week high of $35.31. The firm’s 50 day moving average price is $32.44 and its 200 day moving average price is $29.48.

Bancolombia (NYSE:CIB) last announced its quarterly earnings results on Tuesday, February 20th. The bank reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.26. Bancolombia had a return on equity of 18.46% and a net margin of 13.51%. The company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.68 billion. Equities research analysts predict that Bancolombia will post 5.69 EPS for the current fiscal year.

Bancolombia Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 11th. Investors of record on Monday, April 1st will be given a $0.8118 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $3.25 annualized dividend and a yield of 9.28%. Bancolombia’s dividend payout ratio (DPR) is 53.28%.

Bancolombia Company Profile

Bancolombia SA provides banking products and services in Colombia, Panama, Puerto Rico, El Salvador, Bermuda, and Guatemala. The company operates through nine segments: Banking Colombia, Banking Panama, Banking El Salvador, Banking Guatemala, Trust, Investment Banking, Brokerage, International Banking, and All Other.