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

Bancolombia (NYSE:CIB) had its target price increased by JPMorgan Chase & Co. from $30.00 to $35.00 in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have an underweight rating on the bank’s stock.

Separately, HSBC downgraded Bancolombia from a buy rating to a hold rating in a research note on Monday, January 8th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $31.90.

Bancolombia Trading Down 0.6 %

Bancolombia stock opened at $33.52 on Tuesday. The business has a 50 day moving average of $33.42 and a 200-day moving average of $30.29. Bancolombia has a 1 year low of $23.12 and a 1 year high of $37.15. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.38.

Bancolombia (NYSE:CIB) last released its quarterly earnings data on Tuesday, February 20th. The bank reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.68 billion. On average, analysts anticipate that Bancolombia will post 5.69 earnings per share for the current fiscal year.

Bancolombia Cuts Dividend

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

Institutional Trading of Bancolombia

Several institutional investors have recently added to or reduced their stakes in CIB. BlackRock Inc. boosted its holdings in Bancolombia by 25.1% in the first quarter. BlackRock Inc. now owns 2,227,183 shares of the bank’s stock valued at $95,011,000 after acquiring an additional 446,778 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings 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 worth $9,460,000 after buying an additional 343,933 shares in the last quarter. Earnest Partners LLC boosted its holdings 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 worth $67,102,000 after buying an additional 312,502 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC boosted its holdings 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 worth $5,929,000 after buying an additional 181,615 shares in the last quarter. Finally, Boston Common Asset Management LLC boosted its holdings 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 worth $5,913,000 after buying an additional 170,074 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.