JPMorgan Chase & Co. Boosts Bancolombia (NYSE:CIB) Price Target to $35.00

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

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

Bancolombia Price Performance

NYSE:CIB opened at $33.29 on Tuesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a 50-day moving average price of $33.45 and a two-hundred day moving average price of $30.31. Bancolombia has a twelve month low of $23.12 and a twelve month high of $37.15.

Bancolombia (NYSE:CIB) last posted its earnings results on Tuesday, February 20th. The bank reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.26. Bancolombia had a net margin of 13.51% and a return on equity of 18.46%. The firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.68 billion. Analysts expect that Bancolombia will post 5.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bancolombia

Hedge funds have recently modified their holdings of the stock. Nordea Investment Management AB boosted its position in shares of Bancolombia by 52.4% in the fourth quarter. Nordea Investment Management AB now owns 214,223 shares of the bank’s stock worth $6,613,000 after acquiring an additional 73,656 shares during the last quarter. Caprock Group LLC boosted its position in shares of Bancolombia by 8.6% in the fourth quarter. Caprock Group LLC now owns 18,059 shares of the bank’s stock worth $570,000 after acquiring an additional 1,423 shares during the last quarter. Sei Investments Co. boosted its position in shares of Bancolombia by 16.3% in the third quarter. Sei Investments Co. now owns 686,161 shares of the bank’s stock worth $18,307,000 after acquiring an additional 96,247 shares during the last quarter. Citigroup Inc. boosted its position in shares of Bancolombia by 4.9% in the third quarter. Citigroup Inc. now owns 14,297 shares of the bank’s stock worth $381,000 after acquiring an additional 668 shares during the last quarter. Finally, Lesa Sroufe & Co acquired a new stake in shares of Bancolombia in the third quarter worth approximately $1,713,000.

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.