Bancolombia S.A. (NYSE:CIB) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Bancolombia S.A. (NYSE:CIB – Get Rating) have received an average recommendation of “Moderate Buy” from the ten analysts that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $41.17.

A number of brokerages recently commented on CIB. TheStreet raised shares of Bancolombia from a “c+” rating to a “b-” rating in a research note on Tuesday. HSBC raised shares of Bancolombia from a “hold” rating to a “buy” rating in a research note on Friday, December 16th. Finally, UBS Group raised shares of Bancolombia from a “sell” rating to a “neutral” rating and reduced their price objective for the stock from $29.00 to $27.00 in a research note on Wednesday, October 19th.

Hedge Funds Weigh In On Bancolombia

A number of large investors have recently made changes to their positions in CIB. BlackRock Inc. increased its position in shares of Bancolombia by 25.1% during the first quarter. BlackRock Inc. now owns 2,227,183 shares of the bank’s stock worth $95,011,000 after purchasing an additional 446,778 shares in the last quarter. Moneda S.A. Administradora General de Fondos increased its position in shares of Bancolombia by 99.3% in the 3rd quarter. Moneda S.A. Administradora General de Fondos now owns 580,531 shares of the bank’s stock valued at $14,148,000 after acquiring an additional 289,288 shares during the period. Moneda USA Inc. acquired a new position in shares of Bancolombia in the 2nd quarter valued at $7,020,000. Philadelphia Financial Management of San Francisco LLC increased its position in shares of Bancolombia by 86.8% in the 2nd quarter. Philadelphia Financial Management of San Francisco LLC now owns 479,944 shares of the bank’s stock valued at $14,797,000 after acquiring an additional 223,072 shares during the period. Finally, Sagil Capital LLP acquired a new position in shares of Bancolombia in the 2nd quarter valued at $5,727,000. 1.89% of the stock is owned by institutional investors and hedge funds.

Bancolombia Stock Up 1.8 %

Shares of NYSE CIB opened at $30.03 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market capitalization of $7.22 billion, a price-to-earnings ratio of 4.49, a PEG ratio of 0.26 and a beta of 1.16. The stock has a 50 day moving average price of $27.12 and a 200 day moving average price of $27.48. Bancolombia has a 52-week low of $23.86 and a 52-week high of $45.98.

Bancolombia (NYSE:CIB – Get Rating) last announced its quarterly earnings results on Thursday, November 10th. The bank reported $1.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.11). The firm had revenue of $1.45 billion during the quarter. Bancolombia had a net margin of 23.23% and a return on equity of 17.14%. Sell-side analysts expect that Bancolombia will post 6.18 earnings per share for the current year.

Bancolombia Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 19th. Stockholders of record on Friday, December 30th were given a dividend of $0.6545 per share. This represents a $2.62 dividend on an annualized basis and a dividend yield of 8.72%. The ex-dividend date was Thursday, December 29th. Bancolombia’s payout ratio is presently 30.49%.

About Bancolombia

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Bancolombia SA provides various banking products and services to individual, corporate, and government customers in Colombia, Latin America, and the Caribbean region. It operates through following operating segments: Banking Colombia, Banking Panama, Banking El Salvador, Banking Guatemala, Trust, Investment banking, Brokerage, Off Shore and Others.