Bancolombia (NYSE:CIB) Reaches New 1-Year High – Should You Buy?

Bancolombia S.A. (NYSE:CIB) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $44.31 and last traded at $44.31, with a volume of 25502 shares trading hands. The stock had previously closed at $43.88.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CIB shares. Morgan Stanley raised Bancolombia from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $40.00 to $53.00 in a research note on Tuesday, January 28th. The Goldman Sachs Group increased their price target on shares of Bancolombia from $31.00 to $35.00 and gave the stock a “sell” rating in a research note on Monday, February 24th.

Bancolombia Stock Performance

The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $10.53 billion, a P/E ratio of 6.95, a P/E/G ratio of 2.47 and a beta of 1.22. The business has a fifty day moving average price of $40.43 and a 200-day moving average price of $35.05.

Bancolombia (NYSE:CIB) last posted its earnings results on Thursday, February 20th. The bank reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.22. Bancolombia had a net margin of 14.14% and a return on equity of 14.61%. The business had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.41 billion. On average, sell-side analysts expect that Bancolombia S.A. will post 6 EPS for the current year.

Bancolombia Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Monday, March 31st will be given a $3.8119 dividend. This represents a $15.25 dividend on an annualized basis and a yield of 34.83%. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from Bancolombia’s previous quarterly dividend of $0.80. Bancolombia’s payout ratio is 241.90%.

Hedge Funds Weigh In On Bancolombia

Hedge funds and other institutional investors have recently modified their holdings of the company. 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 valued at $31,000 after purchasing an additional 414 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Bancolombia by 41.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,246 shares of the bank’s stock valued at $72,000 after acquiring an additional 657 shares during the period. SBI Securities Co. Ltd. purchased a new stake in Bancolombia in the 4th quarter worth approximately $89,000. R Squared Ltd bought a new stake in Bancolombia during the 4th quarter worth approximately $121,000. Finally, V Square Quantitative Management LLC lifted its stake in shares of Bancolombia by 126.1% during the 4th quarter. V Square Quantitative Management LLC now owns 5,288 shares of the bank’s stock valued at $169,000 after buying an additional 2,949 shares in the last quarter.

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.