The Goldman Sachs Group Raises Bancolombia (NYSE:CIB) Price Target to $35.00

Bancolombia (NYSE:CIB) had its target price upped by investment analysts at The Goldman Sachs Group from $31.00 to $35.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “sell” rating on the bank’s stock. The Goldman Sachs Group’s price target would suggest a potential downside of 18.58% from the stock’s previous close.

Separately, Morgan Stanley upgraded shares of Bancolombia from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $40.00 to $53.00 in a research note on Tuesday, January 28th.

Bancolombia Stock Up 0.5 %

Shares of CIB stock traded up $0.20 on Monday, hitting $42.99. The stock had a trading volume of 68,614 shares, compared to its average volume of 423,344. Bancolombia has a one year low of $30.25 and a one year high of $44.25. The business has a 50 day moving average price of $35.50 and a 200 day moving average price of $33.49. The company has a market cap of $10.34 billion, a PE ratio of 6.82, a P/E/G ratio of 2.47 and a beta of 1.22. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 0.60.

Bancolombia (NYSE:CIB) last announced its quarterly earnings results on Thursday, February 20th. The bank reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.22. The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Bancolombia had a net margin of 14.14% and a return on equity of 14.61%. Research analysts anticipate that Bancolombia will post 6 earnings per share for the current fiscal year.

Institutional Trading of Bancolombia

A number of hedge funds have recently modified their holdings of CIB. Blue Trust Inc. boosted its position in Bancolombia by 96.5% in the 3rd quarter. Blue Trust Inc. now owns 1,305 shares of the bank’s stock worth $43,000 after purchasing an additional 641 shares in the last quarter. Measured Wealth Private Client Group LLC boosted its holdings in Bancolombia by 6.4% during the third quarter. Measured Wealth Private Client Group LLC now owns 7,800 shares of the bank’s stock worth $245,000 after buying an additional 471 shares in the last quarter. US Bancorp DE grew its position in Bancolombia by 18.9% during the third quarter. US Bancorp DE now owns 5,282 shares of the bank’s stock valued at $166,000 after buying an additional 839 shares during the period. BSW Wealth Partners raised its position in shares of Bancolombia by 15.7% in the third quarter. BSW Wealth Partners now owns 16,626 shares of the bank’s stock worth $522,000 after acquiring an additional 2,251 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its stake in shares of Bancolombia by 12.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,323,482 shares of the bank’s stock worth $41,531,000 after acquiring an additional 150,022 shares in the last quarter.

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.