Bancolombia S.A. (NYSE:CIB) Receives Average Rating of “Reduce” from Analysts

Bancolombia S.A. (NYSE:CIB) has received an average recommendation of “Reduce” from the six ratings firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $31.90.

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

Bancolombia Stock Performance

CIB opened at $33.52 on Wednesday. Bancolombia has a fifty-two week low of $23.12 and a fifty-two week high of $37.15. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a fifty day moving average of $33.42 and a 200-day moving average of $30.29.

Bancolombia (NYSE:CIB) last posted 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. The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.68 billion. Bancolombia had a return on equity of 18.46% and a net margin of 13.51%. On average, research analysts forecast that Bancolombia will post 5.69 EPS for the current year.

Bancolombia Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Monday, April 1st were paid a $0.8118 dividend. This represents a $3.25 annualized dividend and a yield of 9.69%. The ex-dividend date of this dividend was Thursday, March 28th. Bancolombia’s dividend payout ratio (DPR) is presently 59.84%.

Hedge Funds Weigh In On Bancolombia

Institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. grew its holdings in 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 in the last quarter. Greenleaf Trust grew its stake in shares of Bancolombia by 3.1% during the 3rd quarter. Greenleaf Trust now owns 12,743 shares of the bank’s stock worth $340,000 after acquiring an additional 379 shares during the period. Advisor Group Holdings Inc. lifted its holdings in Bancolombia by 12.0% during the 1st quarter. Advisor Group Holdings Inc. now owns 5,173 shares of the bank’s stock worth $221,000 after purchasing an additional 553 shares in the last quarter. UBS Group AG lifted its holdings in Bancolombia by 2.8% during 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 lifted its holdings in Bancolombia by 7.4% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 8,521 shares of the bank’s stock worth $227,000 after purchasing an additional 585 shares in the last quarter.

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.