Brokerages Set Bancolombia S.A. (NYSE:CIB) Target Price at $30.65

Shares of Bancolombia S.A. (NYSE:CIB) have been assigned a consensus rating of “Reduce” from the six ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $30.65.

Separately, HSBC lowered shares of Bancolombia from a “buy” rating to a “hold” rating in a report on Monday, January 8th.

Institutional Investors Weigh In On Bancolombia

Several institutional investors and hedge funds have recently bought and sold shares of CIB. PNC Financial Services Group Inc. grew its holdings in shares of Bancolombia by 13.7% during the first quarter. PNC Financial Services Group Inc. now owns 2,719 shares of the bank’s stock valued at $117,000 after purchasing an additional 327 shares during the last quarter. Greenleaf Trust boosted its position in Bancolombia by 3.1% during the 3rd quarter. Greenleaf Trust now owns 12,743 shares of the bank’s stock valued at $340,000 after purchasing an additional 379 shares during the period. US Bancorp DE grew its stake in Bancolombia by 25.0% during the 2nd quarter. US Bancorp DE now owns 2,262 shares of the bank’s stock worth $60,000 after buying an additional 453 shares during the last quarter. Advisor Group Holdings Inc. increased its position in Bancolombia by 12.0% in the first quarter. Advisor Group Holdings Inc. now owns 5,173 shares of the bank’s stock worth $221,000 after buying an additional 553 shares during the period. Finally, UBS Group AG lifted its stake in Bancolombia by 2.8% in the fourth quarter. UBS Group AG now owns 20,509 shares of the bank’s stock valued at $585,000 after buying an additional 558 shares during the last quarter.

Bancolombia Stock Down 0.3 %

Shares of NYSE CIB opened at $34.98 on Friday. Bancolombia has a 1 year low of $23.12 and a 1 year high of $35.31. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.38. The stock’s 50-day simple moving average is $32.44 and its 200-day simple moving average is $29.48.

Bancolombia (NYSE:CIB) last posted its quarterly earnings data on Tuesday, February 20th. The bank reported $1.58 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $1.68 billion. As a group, 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 will be paid on Thursday, April 11th. Stockholders of record on Monday, April 1st will be given a $0.8118 dividend. The ex-dividend date is Thursday, March 28th. This represents a $3.25 dividend on an annualized basis and a dividend yield of 9.28%. Bancolombia’s payout ratio is currently 53.28%.

Bancolombia Company Profile

Bancolombia SA provides banking products and services in Colombia, Panama, Puerto Rico, El Salvador, Bermuda, and Guatemala. The company operates through nine segments: Banking Colombia, Banking Panama, Banking El Salvador, Banking Guatemala, Trust, Investment Banking, Brokerage, International Banking, and All Other.