Analysts Set Bancolombia S.A. (NYSE:CIB) PT at $31.90

Shares of Bancolombia S.A. (NYSE:CIB) have received a consensus rating of “Reduce” from the six ratings firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $31.90.

CIB has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their price target on Bancolombia from $30.00 to $35.00 and gave the company an “underweight” rating in a research report on Tuesday, April 16th. HSBC lowered Bancolombia from a “buy” rating to a “hold” rating in a research report on Monday, January 8th.

Institutional Investors Weigh In On Bancolombia

Several large investors have recently made changes to their positions in CIB. BlackRock Inc. increased its position in shares of Bancolombia by 25.1% during the 1st quarter. BlackRock Inc. now owns 2,227,183 shares of the bank’s stock valued at $95,011,000 after purchasing an additional 446,778 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Bancolombia by 3,230.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 354,579 shares of the bank’s stock valued at $9,460,000 after purchasing an additional 343,933 shares during the last quarter. Earnest Partners LLC increased its position in shares of Bancolombia by 14.2% during the 3rd quarter. Earnest Partners LLC now owns 2,515,052 shares of the bank’s stock valued at $67,102,000 after purchasing an additional 312,502 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its position in shares of Bancolombia by 447.3% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 222,222 shares of the bank’s stock valued at $5,929,000 after purchasing an additional 181,615 shares during the last quarter. Finally, Boston Common Asset Management LLC increased its position in shares of Bancolombia by 260.8% during the 1st quarter. Boston Common Asset Management LLC now owns 235,283 shares of the bank’s stock valued at $5,913,000 after purchasing an additional 170,074 shares during the last quarter.

Bancolombia Stock Up 1.2 %

Shares of CIB opened at $32.65 on Wednesday. Bancolombia has a 12-month low of $23.12 and a 12-month high of $37.15. The business’s fifty day moving average is $33.49 and its 200 day moving average is $30.44. 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 (NYSE:CIB) last issued its 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 for the quarter, compared to analysts’ expectations of $1.68 billion. On average, research analysts predict that Bancolombia will post 5.69 EPS for the current fiscal year.

Bancolombia Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Monday, April 1st were given 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 currently 59.34%.

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.