Brokerages Set Bancolombia S.A. (NYSE:CIB) Target Price at $33.12

Bancolombia S.A. (NYSE:CIB) has received an average rating of “Reduce” from the six analysts that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $33.12.

A number of analysts recently commented on the company. JPMorgan Chase & Co. increased their price objective on Bancolombia from $30.00 to $35.00 and gave the company an “underweight” rating in a research note on Tuesday, April 16th. Bank of America began coverage on Bancolombia in a research note on Thursday, May 2nd. They issued a “neutral” rating and a $38.00 price target on the stock.

Bancolombia Stock Down 1.0 %

Bancolombia stock opened at $33.04 on Monday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.04 and a quick ratio of 1.04. Bancolombia has a 1-year low of $24.15 and a 1-year high of $37.85. The company has a market cap of $7.94 billion, a PE ratio of 5.19 and a beta of 1.22. The stock’s 50 day moving average price is $34.19 and its 200 day moving average price is $33.13.

Bancolombia (NYSE:CIB) last issued its quarterly earnings data on Thursday, May 9th. The bank reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.33. The firm had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $1.81 billion. Bancolombia had a return on equity of 17.33% and a net margin of 13.64%. During the same period in the previous year, the firm posted $1.54 earnings per share. On average, sell-side analysts predict that Bancolombia will post 5.98 EPS for the current fiscal year.

Bancolombia Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Thursday, June 27th will be given a $0.898 dividend. This represents a $3.59 annualized dividend and a dividend yield of 10.87%. The ex-dividend date is Thursday, June 27th. This is an increase from Bancolombia’s previous quarterly dividend of $0.81. Bancolombia’s dividend payout ratio is 56.45%.

Institutional Investors Weigh In On Bancolombia

Several hedge funds have recently made changes to their positions in CIB. Parallel Advisors LLC increased its stake in Bancolombia by 164.9% in the 4th quarter. Parallel Advisors LLC now owns 2,069 shares of the bank’s stock valued at $64,000 after buying an additional 1,288 shares during the period. Virtus Investment Advisers Inc. acquired a new position in Bancolombia in the 1st quarter valued at approximately $89,000. V Square Quantitative Management LLC acquired a new position in Bancolombia in the 4th quarter valued at approximately $117,000. Barometer Capital Management Inc. acquired a new position in Bancolombia in the 4th quarter valued at approximately $123,000. Finally, Signaturefd LLC increased its stake in Bancolombia by 26.1% in the 4th quarter. Signaturefd LLC now owns 4,425 shares of the bank’s stock valued at $136,000 after buying an additional 916 shares during the period.

About Bancolombia

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.