Bancolombia (NYSE:CIB) Price Target Increased to $35.00 by Analysts at JPMorgan Chase & Co.

Bancolombia (NYSE:CIB) had its price target lifted by JPMorgan Chase & Co. from $30.00 to $35.00 in a report released on Tuesday, Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the bank’s stock.

Separately, HSBC lowered Bancolombia from a buy rating to a hold rating in a research report on Monday, January 8th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat, Bancolombia presently has a consensus rating of Hold and a consensus price target of $31.90.

Bancolombia Stock Up 1.2 %

Shares of CIB stock opened at $32.65 on Tuesday. The business’s 50 day simple moving average is $33.49 and its 200 day simple moving average is $30.37. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.38. Bancolombia has a one year low of $23.12 and a one year high of $37.15.

Bancolombia (NYSE:CIB) last issued its quarterly earnings results on Tuesday, February 20th. The bank reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.26. Bancolombia had a net margin of 13.51% and a return on equity of 18.46%. The business had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.68 billion. As a group, equities analysts anticipate that Bancolombia will post 5.69 earnings per share for the current fiscal year.

Bancolombia Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Monday, April 1st were issued a $0.8118 dividend. This represents a $3.25 dividend on an annualized basis and a yield of 9.95%. The ex-dividend date was Thursday, March 28th. Bancolombia’s payout ratio is 59.34%.

Hedge Funds Weigh In On Bancolombia

Institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. grew its stake in shares of Bancolombia by 13.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,719 shares of the bank’s stock valued at $117,000 after buying an additional 327 shares during the period. Greenleaf Trust increased its holdings in shares of Bancolombia by 3.1% during the third quarter. Greenleaf Trust now owns 12,743 shares of the bank’s stock valued at $340,000 after acquiring an additional 379 shares in the last quarter. Advisor Group Holdings Inc. raised its position 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. UBS Group AG lifted its holdings in shares of Bancolombia by 2.8% in the 4th quarter. UBS Group AG now owns 20,509 shares of the bank’s stock worth $585,000 after purchasing an additional 558 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its position in Bancolombia by 7.4% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 8,521 shares of the bank’s stock valued at $227,000 after purchasing an additional 585 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.