Bancolombia S.A. (NYSE:CIB) Receives Consensus Rating of “Reduce” from Brokerages

Bancolombia S.A. (NYSE:CIB) has received a consensus recommendation of “Reduce” from the six ratings firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and five have issued a hold rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $30.65.

Separately, HSBC downgraded shares of Bancolombia from a “buy” rating to a “hold” rating in a research report on Monday, January 8th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Bancolombia by 2.2% during the third quarter. Vanguard Group Inc. now owns 3,993,245 shares of the bank’s stock worth $97,315,000 after buying an additional 84,456 shares during the last quarter. Earnest Partners LLC raised its holdings in Bancolombia by 14.2% during the third quarter. Earnest Partners LLC now owns 2,515,052 shares of the bank’s stock worth $67,102,000 after buying an additional 312,502 shares during the last quarter. BlackRock Inc. raised its holdings in Bancolombia by 25.1% during the first quarter. BlackRock Inc. now owns 2,227,183 shares of the bank’s stock worth $95,011,000 after buying an additional 446,778 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Bancolombia by 14.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 852,391 shares of the bank’s stock worth $24,327,000 after buying an additional 108,348 shares during the last quarter. Finally, C Partners Holding GmbH raised its holdings in Bancolombia by 7.5% during the fourth quarter. C Partners Holding GmbH now owns 818,496 shares of the bank’s stock worth $25,185,000 after buying an additional 56,977 shares during the last quarter.

Bancolombia Stock Up 0.4 %

Shares of NYSE CIB opened at $34.22 on Friday. The company has a market capitalization of $8.23 billion, a P/E ratio of 5.61 and a beta of 1.22. Bancolombia has a 52-week low of $23.12 and a 52-week high of $35.31. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.02 and a current ratio of 1.05. The company’s 50 day moving average price is $32.53 and its 200-day moving average price is $29.57.

Bancolombia (NYSE:CIB) last issued its quarterly earnings results on Tuesday, February 20th. The bank reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.26. The firm had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.68 billion. Bancolombia had a net margin of 13.51% and a return on equity of 18.46%. Equities analysts forecast that Bancolombia will post 5.69 earnings per share for the current year.

Bancolombia Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 11th. Investors of record on Monday, April 1st will be given a dividend of $0.8118 per share. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $3.25 dividend on an annualized basis and a dividend yield of 9.49%. Bancolombia’s payout ratio is presently 59.84%.

About Bancolombia

Bancolombia SA provides banking products and services in Colombia, Panama, Puerto Rico, El Salvador, Bermuda, and Guatemala. The company operates through nine segments: Banking Colombia, Banking Panama, Banking El Salvador, Banking Guatemala, Trust, Investment Banking, Brokerage, International Banking, and All Other.