BanColombia (NYSE:CIB) Hits New 12-Month High - Here's Why

Key Points

• BanColombia's stock reached a new 52-week high of $49.06, closing at $48.86 with strong trading volume of 366,031 shares.
• Equities analysts have recently adjusted their ratings, with Bank of America upgrading its rating to "neutral" and raising its target price from $41.00 to $49.00.
• The bank reported quarterly earnings of $1.79 EPS, exceeding analysts' expectations of $1.66 EPS, with revenue also surpassing estimates at $1.80 billion.

BanColombia S.A. (NYSE:CIB - Get Free Report)'s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $49.06 and last traded at $48.86, with a volume of 366031 shares traded. The stock had previously closed at $48.06.

Analyst Ratings Changes

A number of equities analysts recently commented on CIB shares. UBS Group reiterated a "neutral" rating and issued a $38.00 target price (up previously from $35.00) on shares of BanColombia in a research report on Monday, June 2nd. Bank of America upgraded shares of BanColombia from an "underperform" rating to a "neutral" rating and lifted their target price for the stock from $41.00 to $49.00 in a research report on Thursday, August 7th.

BanColombia Stock Performance

The firm has a market cap of $11.75 billion, a P/E ratio of 7.41, a price-to-earnings-growth ratio of 0.96 and a beta of 0.92. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.26. The business's fifty day simple moving average is $44.57 and its 200-day simple moving average is $42.25.

BanColombia (NYSE:CIB - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The bank reported $1.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.66 by $0.13. The business had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.75 billion. BanColombia had a net margin of 15.30% and a return on equity of 17.84%. As a group, sell-side analysts expect that BanColombia S.A. will post 6 earnings per share for the current year.

Institutional Investors Weigh In On BanColombia

Large investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd grew its holdings in BanColombia by 253.2% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 657 shares of the bank's stock worth $30,000 after acquiring an additional 471 shares during the last quarter. SVB Wealth LLC bought a new stake in BanColombia in the 1st quarter worth $45,000. Aberdeen Group plc bought a new stake in shares of BanColombia during the 1st quarter valued at about $201,000. Whipplewood Advisors LLC boosted its stake in shares of BanColombia by 4,800.9% during the 1st quarter. Whipplewood Advisors LLC now owns 5,195 shares of the bank's stock valued at $209,000 after purchasing an additional 5,089 shares in the last quarter. Finally, Malaga Cove Capital LLC bought a new stake in shares of BanColombia during the 1st quarter valued at about $209,000.

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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