Bancolombia (NYSE:CIB) Downgraded by ValuEngine

ValuEngine lowered shares of Bancolombia (NYSE:CIB) from a hold rating to a sell rating in a research report report published on Thursday, ValuEngine reports.

Other analysts have also recently issued reports about the stock. Citigroup raised shares of Bancolombia from a neutral rating to a buy rating in a research note on Wednesday, April 17th. Credit Suisse Group lowered shares of Bancolombia from a neutral rating to an underperform rating in a research report on Tuesday, April 30th. Finally, Zacks Investment Research upgraded shares of Bancolombia from a hold rating to a strong-buy rating and set a $57.00 target price on the stock in a research report on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of Hold and an average price target of $57.00.

Bancolombia stock traded down $1.48 during trading hours on Thursday, hitting $47.17. 1,961 shares of the stock were exchanged, compared to its average volume of 175,510. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $11.70 billion, a PE ratio of 13.47 and a beta of 0.76. Bancolombia has a 12 month low of $35.52 and a 12 month high of $55.40. The stock has a 50-day moving average of $50.84.

Bancolombia (NYSE:CIB) last issued its quarterly earnings data on Thursday, May 9th. The bank reported $1.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.11. The firm had revenue of $1.09 billion for the quarter. Bancolombia had a net margin of 15.03% and a return on equity of 11.81%. As a group, sell-side analysts expect that Bancolombia will post 4.08 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Thursday, June 27th were issued a $0.3339 dividend. The ex-dividend date of this dividend was Wednesday, June 26th. This represents a $1.34 annualized dividend and a yield of 2.83%. Bancolombia’s dividend payout ratio is currently 35.92%.

A number of hedge funds and other institutional investors have recently made changes to their positions in CIB. Advisory Services Network LLC acquired a new stake in Bancolombia in the second quarter worth $30,000. BNP Paribas Arbitrage SA lifted its stake in shares of Bancolombia by 167.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 621 shares of the bank’s stock worth $32,000 after buying an additional 389 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of Bancolombia by 45.7% during the 1st quarter. Parallel Advisors LLC now owns 845 shares of the bank’s stock worth $43,000 after buying an additional 265 shares during the last quarter. Bartlett & Co. LLC acquired a new stake in shares of Bancolombia during the 1st quarter worth about $64,000. Finally, Quadrant Capital Group LLC lifted its stake in shares of Bancolombia by 68.5% during the 1st quarter. Quadrant Capital Group LLC now owns 3,673 shares of the bank’s stock worth $185,000 after buying an additional 1,493 shares during the last quarter. Institutional investors and hedge funds own 7.45% of the company’s stock.

Bancolombia Company Profile

Bancolombia SA provides various banking products and services to individual, corporate, and government customers in Colombia, Latin America, and the Caribbean region. The company operates in nine segments: Banking Colombia, Banking Panama, Banking El Salvador, Banking Guatemala, Trust, Investment Banking, Brokerage, Off Shore, and All Other.

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Analyst Recommendations for Bancolombia (NYSE:CIB)

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