Analysts Set Bancolombia S.A. (NYSE:CIB) PT at $31.90

Shares of Bancolombia S.A. (NYSE:CIB) have received a consensus recommendation of “Reduce” from the six analysts that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $31.90.

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Bancolombia from $30.00 to $35.00 and gave the stock an “underweight” rating in a research report on Tuesday. HSBC cut shares of Bancolombia from a “buy” rating to a “hold” rating in a report on Monday, January 8th.

Bancolombia Trading Up 1.2 %

Shares of NYSE:CIB opened at $32.65 on Wednesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a 50 day moving average price of $33.49 and a 200-day moving average price of $30.37. Bancolombia has a 52-week low of $23.12 and a 52-week high of $37.15.

Bancolombia (NYSE:CIB) last issued its quarterly earnings results on Tuesday, February 20th. The bank reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.26. The company had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.68 billion. Bancolombia had a return on equity of 18.46% and a net margin of 13.51%. On average, equities research analysts forecast that Bancolombia will post 5.69 EPS for the current year.

Bancolombia Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Monday, April 1st were paid a $0.8118 dividend. This represents a $3.25 dividend on an annualized basis and a yield of 9.95%. The ex-dividend date of this dividend was Thursday, March 28th. Bancolombia’s payout ratio is 59.34%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Advisor Group Holdings Inc. lifted its holdings in shares of Bancolombia by 12.0% during the first quarter. Advisor Group Holdings Inc. now owns 5,173 shares of the bank’s stock valued at $221,000 after purchasing an additional 553 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Bancolombia by 14.2% during the 1st quarter. American Century Companies Inc. now owns 16,862 shares of the bank’s stock valued at $719,000 after acquiring an additional 2,099 shares during the last quarter. US Bancorp DE grew its stake in shares of Bancolombia by 7.7% in the first quarter. US Bancorp DE now owns 8,982 shares of the bank’s stock worth $383,000 after acquiring an additional 643 shares during the period. PNC Financial Services Group Inc. raised 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. Finally, BlackRock Inc. raised its holdings in shares of Bancolombia by 25.1% during the first quarter. BlackRock Inc. now owns 2,227,183 shares of the bank’s stock valued at $95,011,000 after purchasing an additional 446,778 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.