Bancolombia (NYSE:CIB) Hits New 52-Week High – What’s Next?

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

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Morgan Stanley upgraded shares of Bancolombia from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $40.00 to $53.00 in a research note on Tuesday, January 28th. The Goldman Sachs Group lifted their price target on Bancolombia from $31.00 to $35.00 and gave the stock a “sell” rating in a report on Monday, February 24th.

Bancolombia Stock Performance

The company’s fifty day simple moving average is $39.96 and its 200 day simple moving average is $34.93. 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 $10.78 billion, a price-to-earnings ratio of 7.12, a P/E/G ratio of 2.47 and a beta of 1.22.

Bancolombia (NYSE:CIB) last released its quarterly earnings results on Thursday, February 20th. The bank reported $1.57 earnings per share 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 firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.41 billion. On average, equities research analysts expect that Bancolombia S.A. will post 6 earnings per share for the current year.

Bancolombia Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders 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 dividend yield of 34.01%. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from Bancolombia’s previous quarterly dividend of $0.80. Bancolombia’s payout ratio is presently 241.90%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CIB. Itau Unibanco Holding S.A. acquired a new position in Bancolombia in the 4th quarter valued at $24,801,000. Truffle Hound Capital LLC bought a new position in shares of Bancolombia in the fourth quarter worth $11,028,000. GQG Partners LLC acquired a new position in Bancolombia in the fourth quarter valued at about $9,724,000. Ranmore Fund Management Ltd bought a new stake in Bancolombia during the fourth quarter worth about $8,284,000. Finally, Wellington Management Group LLP acquired a new stake in Bancolombia during the third quarter worth about $8,208,000.

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.