Bancolombia (NYSE:CIB) Coverage Initiated by Analysts at Bank of America

Bank of America assumed coverage on shares of Bancolombia (NYSE:CIB) in a research note published on Thursday, MarketBeat.com reports. The brokerage issued a neutral rating and a $38.00 price target on the bank’s stock.

A number of other equities research analysts also recently commented on CIB. HSBC downgraded Bancolombia from a buy rating to a hold rating in a research report on Monday, January 8th. JPMorgan Chase & Co. boosted their price objective on Bancolombia from $30.00 to $35.00 and gave the company an underweight rating in a report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $33.12.

Bancolombia Trading Up 1.6 %

NYSE:CIB opened at $33.93 on Thursday. Bancolombia has a 52 week low of $23.12 and a 52 week high of $37.15. 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 stock’s fifty day moving average is $33.68 and its two-hundred day moving average is $30.98.

Bancolombia (NYSE:CIB) last posted its earnings results on Tuesday, February 20th. The bank reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.26. Bancolombia had a return on equity of 18.46% and a net margin of 13.51%. The company had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.68 billion. On average, equities research analysts predict that Bancolombia will post 5.93 EPS for the current year.

Bancolombia Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Monday, April 1st were issued a $0.8118 dividend. The ex-dividend date was Thursday, March 28th. This represents a $3.25 annualized dividend and a dividend yield of 9.57%. Bancolombia’s dividend payout ratio is presently 59.34%.

Institutional Investors Weigh In On Bancolombia

Several institutional investors and hedge funds have recently modified their holdings of CIB. Advisor Partners II LLC grew its stake in Bancolombia by 13.3% during the 3rd quarter. Advisor Partners II LLC now owns 9,573 shares of the bank’s stock worth $255,000 after purchasing an additional 1,126 shares in the last quarter. Jump Financial LLC grew its stake in Bancolombia by 111.0% during the 3rd quarter. Jump Financial LLC now owns 43,748 shares of the bank’s stock worth $1,167,000 after purchasing an additional 23,012 shares in the last quarter. Quantbot Technologies LP acquired a new position in Bancolombia during the 3rd quarter worth $294,000. Vanguard Personalized Indexing Management LLC grew its stake in Bancolombia by 7.4% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 8,521 shares of the bank’s stock worth $227,000 after purchasing an additional 585 shares in the last quarter. Finally, Pathstone Family Office LLC grew its stake in Bancolombia by 11.9% during the 3rd quarter. Pathstone Family Office LLC now owns 27,628 shares of the bank’s stock worth $749,000 after purchasing an additional 2,935 shares in 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.