Bancolombia (NYSE:CIB) Reaches New 1-Year High on Strong Earnings

Bancolombia S.A. (NYSE:CIB)’s share price reached a new 52-week high on Thursday following a stronger than expected earnings report. The stock traded as high as $41.55 and last traded at $41.49, with a volume of 344373 shares changing hands. The stock had previously closed at $41.09.

The bank reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 14.75% and a net margin of 13.46%.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Bancolombia

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Venturi Wealth Management LLC acquired a new stake in shares of Bancolombia in the third quarter valued at about $27,000. Lindbrook Capital LLC increased its position in shares of Bancolombia by 74.7% during the 4th quarter. Lindbrook Capital LLC now owns 968 shares of the bank’s stock worth $31,000 after purchasing an additional 414 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Bancolombia by 96.5% during 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. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Bancolombia by 41.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,246 shares of the bank’s stock valued at $72,000 after buying an additional 657 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in shares of Bancolombia in the fourth quarter valued at $89,000.

Bancolombia Stock Performance

The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.34. The stock’s fifty day moving average is $35.50 and its two-hundred day moving average is $33.46. The firm has a market capitalization of $10.29 billion, a price-to-earnings ratio of 6.78, a P/E/G ratio of 2.36 and a beta of 1.22.

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.