Bancolombia (NYSE:CIB) Shares Gap Down to $33.02

Bancolombia S.A. (NYSE:CIB) gapped down prior to trading on Friday . The stock had previously closed at $33.02, but opened at $32.33. Bancolombia shares last traded at $32.17, with a volume of 96,224 shares traded.

Wall Street Analysts Forecast Growth

CIB has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price objective on Bancolombia from $36.00 to $35.00 and set an “underweight” rating for the company in a research note on Monday, August 12th. Bank of America lowered Bancolombia from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $38.00 to $34.00 in a research note on Thursday, August 29th. Finally, The Goldman Sachs Group downgraded Bancolombia from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $34.00 to $32.00 in a research report on Tuesday, August 20th. Three analysts have rated the stock with a sell rating and two have given a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $32.40.

Bancolombia Price Performance

The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.40. The firm has a market cap of $7.70 billion, a P/E ratio of 5.19, a PEG ratio of 3.25 and a beta of 1.23. The firm has a 50-day simple moving average of $32.63 and a 200-day simple moving average of $33.59.

Bancolombia (NYSE:CIB) last issued its quarterly earnings data on Thursday, August 8th. The bank reported $1.44 EPS for the quarter, beating the consensus estimate of $1.43 by $0.01. Bancolombia had a return on equity of 15.68% and a net margin of 13.73%. The firm had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.82 billion. As a group, analysts forecast that Bancolombia S.A. will post 5.99 EPS for the current year.

Bancolombia Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be paid a $0.8456 dividend. The ex-dividend date is Friday, September 27th. This represents a $3.38 dividend on an annualized basis and a yield of 10.56%. Bancolombia’s dividend payout ratio (DPR) is 53.14%.

Hedge Funds Weigh In On Bancolombia

Institutional investors have recently modified their holdings of the stock. Parallel Advisors LLC raised its stake in shares of Bancolombia by 164.9% during 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 last quarter. Virtus Investment Advisers Inc. acquired a new stake in shares of Bancolombia during the 1st quarter valued at about $89,000. V Square Quantitative Management LLC acquired a new stake in shares of Bancolombia during the 4th quarter valued at about $117,000. Barometer Capital Management Inc. acquired a new stake in shares of Bancolombia during the 4th quarter valued at about $123,000. Finally, Signaturefd LLC grew its position in shares of Bancolombia by 10.6% during the 2nd quarter. Signaturefd LLC now owns 5,053 shares of the bank’s stock valued at $165,000 after acquiring an additional 484 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.