Bancolombia S.A. (NYSE:CIB) Given Average Recommendation of “Reduce” by Brokerages

Bancolombia S.A. (NYSE:CIB) has received an average rating of “Reduce” from the six research firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $33.12.

CIB has been the topic of several research analyst reports. Bank of America initiated coverage on Bancolombia in a research note on Thursday, May 2nd. They set a “neutral” rating and a $38.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on Bancolombia from $30.00 to $35.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 16th.

Hedge Funds Weigh In On Bancolombia

Several institutional investors and hedge funds have recently modified their holdings of CIB. Nordea Investment Management AB raised its holdings in Bancolombia by 52.4% in the 4th quarter. Nordea Investment Management AB now owns 214,223 shares of the bank’s stock worth $6,613,000 after purchasing an additional 73,656 shares during the period. Gladstone Institutional Advisory LLC purchased a new stake in Bancolombia during the 4th quarter worth approximately $218,000. Ballentine Partners LLC purchased a new stake in Bancolombia during the 1st quarter worth approximately $448,000. Banco BTG Pactual S.A. purchased a new stake in Bancolombia during the 4th quarter worth approximately $3,017,000. Finally, Baader Bank Aktiengesellschaft purchased a new stake in Bancolombia during the 4th quarter worth approximately $222,000.

Bancolombia Stock Up 1.5 %

CIB opened at $32.65 on Monday. Bancolombia has a 52 week low of $24.15 and a 52 week high of $37.85. The stock’s fifty day moving average is $34.16 and its two-hundred day moving average is $33.08. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.04 and a current ratio of 1.04.

Bancolombia (NYSE:CIB) last announced its quarterly earnings results on Thursday, May 9th. The bank reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.33. Bancolombia had a return on equity of 17.33% and a net margin of 13.64%. The business had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same period last year, the business posted $1.54 EPS. As a group, analysts predict that Bancolombia will post 5.98 earnings per share for the current fiscal year.

Bancolombia Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Thursday, June 27th will be issued a $0.898 dividend. This represents a $3.59 annualized dividend and a dividend yield of 11.00%. The ex-dividend date of this dividend is Thursday, June 27th. This is a boost from Bancolombia’s previous quarterly dividend of $0.81. Bancolombia’s payout ratio is 56.45%.

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.