Bancolombia (NYSE:CIB) Price Target Raised to $38.00

Bancolombia (NYSE:CIB) had its target price hoisted by UBS Group from $35.00 to $38.00 in a research report report published on Monday morning,Benzinga reports. They currently have a neutral rating on the bank’s stock.

Separately, The Goldman Sachs Group upped their price objective on Bancolombia from $31.00 to $35.00 and gave the company a “sell” rating in a report on Monday, February 24th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $39.00.

Bancolombia Stock Performance

CIB stock opened at $43.59 on Monday. The business’s fifty day moving average is $40.68 and its 200-day moving average is $38.14. 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 company has a market cap of $10.48 billion, a P/E ratio of 6.92, a price-to-earnings-growth ratio of 2.47 and a beta of 0.91. Bancolombia has a twelve month low of $30.25 and a twelve month high of $44.93.

Bancolombia Increases Dividend

The company also recently announced a dividend, which was paid on Friday, May 9th. Shareholders of record on Tuesday, April 29th were paid a $0.5745 dividend. This represents a yield of 17.13%. The ex-dividend date was Monday, April 28th. This is an increase from Bancolombia’s previous dividend of $0.30. Bancolombia’s dividend payout ratio is presently 104.81%.

Institutional Investors Weigh In On Bancolombia

Hedge funds have recently bought and sold shares of the company. Lindbrook Capital LLC grew its holdings in shares of Bancolombia by 74.7% in the 4th quarter. Lindbrook Capital LLC now owns 968 shares of the bank’s stock valued at $31,000 after buying an additional 414 shares during the period. SVB Wealth LLC bought a new position in Bancolombia during the first quarter worth about $45,000. Mirae Asset Global Investments Co. Ltd. grew its stake in Bancolombia by 41.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,246 shares of the bank’s stock valued at $72,000 after acquiring an additional 657 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Bancolombia in the fourth quarter worth about $89,000. Finally, Aberdeen Group plc acquired a new stake in shares of Bancolombia during the first quarter worth about $201,000.

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.