Bancolombia (NYSE:CIB – Free Report) had its target price decreased by JPMorgan Chase & Co. from $36.00 to $35.00 in a research note released on Monday morning, Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the bank’s stock.
Separately, Bank of America initiated coverage on shares of Bancolombia in a research note on Thursday, May 2nd. They issued a neutral rating and a $38.00 price target on the stock. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat.com, Bancolombia presently has an average rating of Hold and an average target price of $33.12.
Bancolombia Stock Performance
Bancolombia Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Thursday, June 27th were paid a $0.898 dividend. This represents a $3.59 dividend on an annualized basis and a dividend yield of 10.47%. This is an increase from Bancolombia’s previous quarterly dividend of $0.81. The ex-dividend date of this dividend was Thursday, June 27th. Bancolombia’s payout ratio is 53.62%.
Institutional Investors Weigh In On Bancolombia
Institutional investors and hedge funds have recently made changes to their positions in the stock. Leith Wheeler Investment Counsel Ltd. purchased a new stake in shares of Bancolombia in the 1st quarter valued at approximately $1,519,000. Capital Wealth Planning LLC purchased a new stake in shares of Bancolombia in the 1st quarter valued at approximately $2,080,000. Gladstone Institutional Advisory LLC purchased a new stake in shares of Bancolombia in the 4th quarter valued at approximately $218,000. Ballentine Partners LLC purchased a new stake in shares of Bancolombia in the 1st quarter valued at approximately $448,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of Bancolombia by 6.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 9,644 shares of the bank’s stock valued at $297,000 after acquiring an additional 599 shares during the period.
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.
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