Bancolombia (NYSE:CIB) PT Raised to $35.00

Bancolombia (NYSE:CIB) had its price target boosted by research analysts at JPMorgan Chase & Co. from $30.00 to $35.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has an “underweight” rating on the bank’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 5.14% from the stock’s current price.

Separately, HSBC cut shares of Bancolombia from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat, Bancolombia has a consensus rating of “Hold” and a consensus target price of $31.90.

Bancolombia Stock Down 0.5 %

Shares of NYSE:CIB opened at $33.29 on Tuesday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.38. Bancolombia has a 12 month low of $23.12 and a 12 month high of $37.15. The firm’s 50-day moving average is $33.45 and its 200 day moving average is $30.31.

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. The company had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.68 billion. Bancolombia had a net margin of 13.51% and a return on equity of 18.46%. As a group, sell-side analysts expect that Bancolombia will post 5.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bancolombia

Several hedge funds have recently modified their holdings of CIB. Atlas Capital Advisors LLC lifted its position in Bancolombia by 578.1% during the first quarter. Atlas Capital Advisors LLC now owns 12,368 shares of the bank’s stock valued at $423,000 after acquiring an additional 10,544 shares during the last quarter. Ballentine Partners LLC purchased a new stake in Bancolombia during the first quarter valued at approximately $448,000. Perpetual Ltd lifted its position in Bancolombia by 122.5% during the first quarter. Perpetual Ltd now owns 121,850 shares of the bank’s stock valued at $4,170,000 after acquiring an additional 67,092 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in Bancolombia during the fourth quarter valued at approximately $619,000. Finally, PNC Financial Services Group Inc. lifted its position in Bancolombia by 6.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 9,644 shares of the bank’s stock valued at $297,000 after acquiring an additional 599 shares during 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.